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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 reporter Chloe Melet. Chloe, good morning. So plenty of market reaction to the news of the Iran ceasefire. Let's start with airlines. The likes of easy Jet among those seeing big moves higher.
Yeah, definitely very much in the green. And the rest of that airline sector also doing very well. So that's both on both the budget airline side, so easy Jet, Ryanair, but also more established players like luftanzo Iag all of
those and names moving high. And of course you, as you mentioned, to the news of the ceasefire with the US and around agreeing to this ceasefire in exchange for the reopening of the straight off home moves and this happened less than two hours before the deadline that was imposed by Trump and now by some time for both sides to reach a longer term agreement, and that's really boosted stocks across the board, but airlines in particular because of how vulnerable they had been to the conflict in
the Middle East, so it had impacted them both in terms of the flight cancelations and all of that disruption because the Middle East has of course some key aviation hubs like Dubai for example. But then also in particularly in terms of energy prices, with oil rising meant that jet fuel prices were rising, and we'd already seen the impact of that with a few airports in Italy, for example, restricting access to jet fuel over the last few days
because of that shortage. So this news of the ceasefire comes as a huge relief for airlines, both on that energy price front and then also on the flight cancelation front.
Of course, the news very much in focus too for energy companies as well. They had been benefiting from higher energy prices, and today we're looking at SHALL among others, yeah.
Shall BP, all of those struggling quite a bit today. Of course, the fact that the Strait of Homos is reopening means that the disruption in those global energy supplies is going to ease a little bit, and so oil prices are falling quite dramatically today, and you know, that means that shell BP any all of those names are in the red. It's obviously quite a fragile state of affairs.
Some economists are saying that almost anything going wrong in those ceasepire talks could very quickly put oil back above one hundred dollars a barrel, but that on the other hand, it would take something really major, really tremendous to get back down to below eighty a barrel. So the market reaction has been quite dramatic. But then on the ground, physical traders are still quite cautious. They're waiting for clearer science that the ceasefire is actually going to hold before
are seeking cargoes from the region. And some ship owners are also saying they need to see vessels exiting safely the region before they send in tankers. So we are seeing that maybe that difference between what's happening in the market and what's happening on the ground. But in the meantime, those oil shares definitely love.
And one of the aspects of the market reaction to the war as well that's been somewhat curious has been gold prices haven't been rising in a traditional safe haven trade. Now today gold is up over two percent, trading backup of four thy eight hundred dollars a barrel. How is that affecting mining companies like Fresnil.
Yeah, Fresnio is higher today. So yeah, as you mentioned, since the war started, we've seen gold trading mostly in tandem with equities, which meant that when they were in the red, gold was also struggling, so it had lost some of that traditional safe haven appeal which had really benefited from since at the beginning of the year. And
so that's happening today as well. We're seeing equities and gold moving higher together, really rising quite strongly after the announcement of the ceasefire, and that's really beneficial for all of those miner has been particular those gold miners, so we've seen the likes of Fresnio, Oschal Mining and Devon Mining, all of those London listed gold miners moving definitely higher as alongside those airlines as well.
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