Bloomberg Audio Studios, Podcasts, radio News.
The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data for.
That second look now at some stocks on the move today in Europe. I'm Stephen Carroll and I'm joined by Bloomberg reporter Chloe Melee. Chloe, good morning. So a new year boost for the minor Fresnello assign perhaps of things to come for the forty one hundred, finally making it over briefly that ten thousand handle.
Yeah, absolutely, So the fifty one hundred, as you mentioned, reached that bill big kind of milestone in Fresno was at the center of that. So the fifty one hundred trading above one thousand points for the first time ever and having its best here since two thousand and nine, A lot of that was thanks to the mining sector.
The fifty one hundred is very kind of heavily weighted towards that industry, and it was a really good industry to be in in twenty twenty five, and it will be a good industry to be in in twenty twenty six. Because the prices of precious metals are jumping quite importantly, quite massively. A lot of that ad has to do with investors in central banks kind of rushing to save havens during times of a little bit more geopolitical turbulence, and then also falling interest rates in the US making
those commodities quite attractive. And so we've seen silver and gold reaching several record highs over the year twenty twenty five, and of course that's great for companies like Presnio, which operates as gold and silver mines, and the company was the standout in the fifty one hundred last year with gains of four hundred and forty nine percent, so that's really really impressive, and that is the best performed by
a really wide margin. The second best was actually another minor Pan African Resources, with gains of just two hundred and fifty nine percent, So that really shows how crucial that mining sector has been to the performance of the fifty one hundred this year, well no last year. And then there's also that no sign of that is really stopping.
In twenty twenty six. We have seen gold and silver starting the year really strongly, and the factors that are leading to that boost are still there, so we'll have to see how much further FRESD of you can go.
Yeah, indeed shows up two point six percent this morning. But as you say, pretty hard perhaps to beat the games they saw last year. Let's turn to Orsted next filing a legal complaint against US President Donald Trump's wind farm suspension.
Yeah, there was. It's up this morning, All said on the back of that, and perhaps indicating that investors are happy that also is kind of pushing back against the Trump administration. The company said that the decision to suspend the lease of a wind project that was very close to being completed a violates applicable law, and so also it is calling for the suspension to be lifted until
there's a final verdict from the court. At the project, which is called Revolution Wind, has been targeted a couple of times by the trub administration. Recently over the summer, we had a stop work order and then a judge ruled that construction could actually resume. And now that there's this least suspension. So that's kind of another setback there.
But it means that All Said will probably be dealing with a lot more challenges from the US after all the attacks from last year from the Trump administration, which really weighed on those shares. But there are some games today. Perhaps, as they said on the fact that all said is a pushing back against those decisions by the Trump administration.
Okay, I know, I said shares. Yeah, as you were saying four percent this morning, that's turned to British American tobacco next shares are in the red there. What's driving that, Well, the.
Ideas is taking a hit because of its stake in ITC, which is the largest make of cigarettes in India, and that company is taking a big hit because of a new excise duty to try and limit the smoking rate in India. We've got two hundred and fifty million people smoking in India.
That's the second highest population globally. So for the health of that population, of those taxes will probably be good, but for ITC not to not too exciting because we're talking about our tax hike of over thirty percent if we include other charges on cigarettes that are about to be imposed as well. So that's a tax burden that's much higher than anticipated. And ITC gets over forty percent of its revenue from cigarette so this is a new text that could mean a big hit on volumes of
big hit on earnings. This is something that has triggered the fifty fifteen percent cut in earning special estimates for twenty twenty seven and twenty twenty eight, so that's really not negligible, and we're seeing investors and analysts start to think about the impact for that company. And BAT has a stake of about about twenty three percent in ITC is the largest shareholder, so it's very vulnerable to whatever happens to that company, and we're seeing that weakness today.
The Stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app. Mm hmm