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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll and I'm joined by Bloomberg's Breaking News editor Louise Moon.
Louise, good morning.
You've come with a theme today, warnings easy Jet telling shareholders to fasten their seatouts.
Indeed, yeah, and that's causing their shares to fall the most since twenty twenty two this morning, So almost nine percent down into the red this morning. So easy Jet warning of a first half loss all because of the Iran War and these disruptions that's caused, as well as higher fuel costs. So they're expecting a headline lost fotax of up to five hundred and sixty million pounds in the first half. They also said that the war has added twenty five million in fuel costs in March alone.
And then on top of that, they've said that forward bookings so for the third quarter of the fourth quarter.
For summer are down compared to a year ago.
So a whole host of warnings and higher costs for Easier, and that's weighing on their share price. They're not the only airline to fall this morning. Jet two among the others, fell as much as five point five percent. That's after they were downgraded by Good Body from a buy to a hold, also on the back of this higher pricing for fuel. So investors there are saying they see lots of value on offer, but they want to clear a picture on how the summer trading is going to go
before shares for Jet two can trade higher. So obviously this is all in the back of the arm war. There's been disruption to roots, disruptions to future bookings, higher costs, and this is all ahead of the peak summer seasons. There's growing concern about how this is going to impact airlines. Obviously we've had that EasyJet guidance this morning and growing concern about fuel supply shortages as well, so we'll be
keeping an eye on how that goes. Easy Jet, Ryan Air and Virgin of all said that they've got about six weeks of secure supplies, so then pass that will be the thing that's in focus in terms of fuel there.
Okay, so that's in terms of easy jet. Please, I'm going to take you on a journey because the next company that you've brought to us is a chocolate maker that has a very confusing name, which I was trying to decide whether I pronounce the French way, which will be Barry Calbo, or the Flemish way, which is Barry Calabout, because it is originally the name comes from Flanders in Belgium, and I've sort of led somewhere in between the two.
But please tell us about Barry Calbo and what the news from them is this morning.
That was a great history and pronunciation lesson. I love that. Yes, this is the Swiss chocolate maker.
Shares dropped the most in a year, fell as much as fifteen percent this morning, so first half sales volume fell but did better than expected. So that was kind of a bit of positivity there. But what's really being focused on is that they've cut their outlook, so they said that profits will fall this year. They had previously said that they expected an increase in earnings, so a switch in tone there. Essentially, they're struggling to deal with
the volatility and the sharp drop in cocol prices. So the CEO this morning, he cited that. He also cited supply disruption, a lot of competition and overcapacity in the market, as well as a potential impact from the Middle East
as well. So they say that they're taking in their words, short term action to protect market share and prioritize growth, which they haven't exactly specified what that entails, but cutting their outlook shares dropping on the back of that, are raising all gains actually that they've made this year in terms of share price, so back to levels seen last November, all of the back of COCAW prices.
Okay, so that for a barry car about as I put a full belt in on that and do it both ways to confuse everyone. Let's turn to Tesco then, interesting to get an update from them about inflation fears.
Yeah, so shares are actually out for Tesco this morning and vests focusing on the core numbers. So four year profits rose, and it also committed to keeping prices low, which it has been doing for a while well, so shares rising on the back of that. They did, however, kind of add to this chorus of corporate warnings that the Iram war is clouding the outlook going forward. So in terms of forward guidance, it was very conservative for this fiscal year.
It had quite a wide range.
Essentially, there's a lot of uncertainty about costs, input costs for Tesco going forward, as well as the impact on the war on households, so on customer spending. So they said at the moment they're not seeing much meaningful inflation come through aside from to do with fuel, but the impact, the potential impact, will depend on how long the war goes on and the impact on households and spending. So
a lot of uncertainty there going forward. We saw similar comments from Dunelm, the furniture retailer this morning, saying that they expect for your profits to be at the lower end because of that uncertainty, and their shares fell six percent. So as I say, adding to this chorus that we're seeing across corporates that this uncertainty and full listen.
The Stockmovers 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,