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Now, let's have a look at the socks on the mood today here in Europe. I'm Caroline Hepkin. I'm joined bub Boomberg reported Tiva out of Bio. Good morning, Tia. Let's think about the energy price impact on market and in particularly those energy stocks. How is BP faring today?
Well, one thing is for sure, Caroline, in terms of energy markets, we're seeing a bit of a reversal of what we saw yesterday. So yesterday oil price is tempering slightly. That's all changed after President Trump made a rare primetime appearance yesterday and he gave an update on the Iran war.
What he did do is dash the optimism that we saw swirling amongst investors that the war could be perhaps on course for a resolution in the next few weeks, and also that disruption to crude and gas flows would ease. As a result, there are some escalation feares now mounting and we're beginning to see that in the market as well. So in short stocks are down and oil are surging. Brent crude jumping as much as six point seven percent today.
That's having an impact on names like BP. It's near the top of the stock six hundred gainers list today, also accompanied by others like Shell and Total Energy. So BP up just over four percent. But Caroline, you do have to wonder how long this is going to last. We've seen some real sort of whips or moves, and that inverse relationship between stocks and energy really come to
the fore in recent weeks during this conflict. It's really headline driven too, so there's nothing that's certain for very long. So as ever, an area to watch as the Middle East unrest continues.
Yeah, Indeed, another sector that we're thinking about in terms of travel and tourism, the airlines, worries around fuel costs really beginning to set in, and Lifter is quite interesting.
Today exactly, so another gear shift for this stock today. Yesterday we saw shares climbing for Lift hands that today's down as much as five point four percent. And you're right, this job is centered around fears about fuel prices. We've mentioned how oil is surging this morning. That's also the case for jet fuel and diesel. European diesel futures hit two hundred dollars a barrel earlier this hour. So analysts
and Morgan Stanley are taking note of this. They've cut price targets for a number of airlines and they have downgraded Left hands are specifically to equal weight.
That's on the.
Risk that fuel costs could prove materially higher for longer due to this conflict. That's what Morgan Stanley is saying. There's an interesting point from another analyst too, that this disruption is felt more severely in refined products than crude oil. So deficits in jet fuel are structurally harder and slower to resolve, which does mean, of course, if we even see a resolution soon, it will take a while for
jet fuel supplies to return to normal. And that's why you're seeing the likes of Morgan Stanley downgrading Left Hands and they're stop falling this morning.
Yeah, and we also have more moves in metals and mining.
Yeah, we are seeing losses across the board in precious mining and metals. That's as the US is preparing to outline this new tiered system for its broader tariffs on steel and aluminium products. The headline here is that we understand currently they're going to maintain fifty percent tariffs on a large number of derivative products and the duty will be calculated by the value of the actual imported good.
So that announcement is expected as early as today. According to the latest reports, miners falling, so the likes of Fresnio Pan African resources to all down Fresnos down as much as six point four percent, could be likely to move again when that announcement is confirmed, but definitely one to keep an eye on heading into the Eastern weekend.
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