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Let's look at some of the stocks on the move today here in Europe. I'm Caroline Hepgar with Vonnie Quinn and we'll bring in Bloomberg with porter Tiba Adebayer to take us through what is happening in markets. And let's start with the minor Bolladin shares, moving on news from the firm at a crucial time of course for the sector overall. Been talking about lots of miners this week, so.
We're actually seeing declines across the mining sector this morning. Boliden one of the biggest losers on the stock six hundred, down as much as seventeen percent. This firm has mining
operations in Europe. They sell metals and mineral products primarily but also gold, and this particular drop is due to an update from the firm about a key mine in Sweden which they say will be operating at around thirty percent of capacity until further notice, and this is expected to have a broader effect on their margins, affecting ebert DA negatively at today's prices dropping because analysts say they had modeled in a more benign impact from this disruption,
so as surprised to the downside. There also Morgan Stanley noting that the affected facility is Boliden's largest and most profitable mining assets, so perhaps further losses to come in the next few days.
That's massive lost today at least well in terms of consumers.
Next share is arising, but they also have a warning about the Middle East conflict.
Why should Next be warning about the Middle East?
Yeah, that's right. So Next is climbing this morning after their latest updates, up by the most since October last year, and that is after they announced an expected pretax profit of just over one point two billion pounds. That's slightly
higher than their January forecasts. And that's even despite the potential impact of the Middle East conflict on supply chain resilience and also consumer But I do have to caveat this because they did also have some harsh warnings as you mentioned, about the impact of the Middle East conflict. They're saying that they'll have to raise prices if this war persists, and they expect it to add fifteen million
pounds of costs now. So far these costs have been offset by savings elsewhere, but there is this worry that, depending on how long the war carries on, those costs could end up being passed on to consumers. But it does seem that investors are choosing to focus on the positives, at least for now. One analyst from Jeffreys saying the update is reassuring given next strong trading in the UK. Yeah.
I also notice H and M sort of saying something similar, weakening picture because of what's happening in the Middle East, and maybe they're not exposed specifically to that, but it's about consumer behavior elsewhere. So their share price is also down today. Finally, Aviva, why is their stock dropping?
You know, Aviva's down as much as four point six percent today and this is all based on sort of growing fears around credit. So yes, so we saw the bank Jeffries missed Wall Street estimates. The important bit here is that Jeffries was dragged down by losses on credit bets. There's also an area's private credit fund posted its deepest monthly loss on record, and also we heard from the ex Goldman CEO Lloyd blank Fain saying there's a risk
of fire in private markets. So European companies tied to private credit are in the spotlight in this first hour of trading. We're watching names like Axa, Alion's Legal in general, and the risk in this sector is something that we've been discussing for a while now. There were of those infamous comments from Jamie Diamond about cockroaches in the sector, and just yesterday a Bloomberg exclusive about Barclay's pulling back on its asset back loans, so perhaps this is just
slightly starting to price that in now. Definitely something to watch over the coming days.
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