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Let's take a look at some stocks on the move today in Europe. I'm Rachel Levins with Stephen Carroll. We're joined by Bloomberg reporter Tiua at a bio. So too, some moves for EasyJet this morning amid rising jet fuel costs, which had been obviously driven by the war in the Middle East.
Tell us more about that, yeah, Rachel, So just give you some context around these moans for EasyJet. A lot of airlines are really struggling at the moment. We're three weeks into this conflict in the Middle East and it's really upended the entire energy supply chain, and vitally the straight of horr moves is all but closed, meaning gasoline and jet fuel prices are surging, and we're already seeing
some elevated airline prices as a result. But actually looking at EasyJet today, it's suffer as much as three point three percent despite those pressures, and that's because it's amongst this sort of group of airlines, including its peer whizz Air, which have hedged around sixty to eighty percent of fuel costs, and now that leaves them in quite a comparatively good position,
which is why we're seeing some gains this morning. There's an analyst that spoke to Bloomberg that said, even though they will be significantly impacted by this jet fuel price bike crisis, their risk is materially lower than others, including Air Baltic. So these moves are really coming from that comparison there. Easy Jet is still affected, but perhaps just not as badly as some of its competitors.
No, okay, really interesting to see how they diverging fortunes for different airlines. What about energy market investors too, how are they reading the latest moves on the energy prices?
Yeah, well, we're actually seeing both Shell and BP falling this morning. BP is down the most in just about ten days, and that's as the price of oil has dropped this morning, though we should say it's dropped from its highest closing position in more than three and a
half years, so it's still elevated price is there. But we've also heard from the Israeli Prime Minister, benjaminett Nahu, who said that his country would no longer target energy infrastructure, and that's after its attack on Iranian gas fields has sparked retaliation. So perhaps this brief lull for some of the all in gas majors is a sign that investors are maybe beginning to price in this restraint. Definitely something to watch there.
And away from the Middle East, we're seeing some m and A move for News. It's driving movement for Spire Health Group. Can tell us a bit more about what's going on there.
Yeah, so this is the UK private healthcare provider, Spire. It's absolutely soaring this morning, it was up as much as eleven percent and that's on the back of some m and A news. So Sky News is reporting that the buyout firm Bridge Point is drawing up proposals for
an offer worth one billion. That's without specifying where it learned the information, but according to Sky we're unlikely to see a formal offer ahead of the deadline which has been set by the UK Mergers Regulator that's five pm tomorrow, So that means there's likely to be a further extension to this process. But this is the latest development in
the story. We heard Spy confirm in January that it was in preliminary talks with firms including Bridgepoint and Tritus, so it seems we're further along in those discussions now, but certainly so far, the market is reacting positively to this potential bio.
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