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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 Malee Chloy. Good morning, Good morning. Let's start with a sector that's been booming recently, precious metals and a jump for Fresnillo.
Yeah, Fresnillo is a major beneficiary of the rallying precious metals that we have seen over the last few months. So it's a silver and gold mine and those are those two metals in particular are rallying massively. So there is quite a lot of volatility in silver today, but it's been on a very impressive run recently. It's recently hit an all time peak of eighty four dollars an ounce that is compared to less than thirty dollars an
ounce at the beginning of the year. Is a really incredible jump there for silver and gold has also been rallying massively and Fresnio that's obviously very good news. And the shares actually hit a record this morning. As for whether that will continue, some of the factors that fuel this metal's rally this year will also be present next year, so that might be an indicator of what we can expect. We still see the geopolitical tensions that are pushing investors
towards those safe haven assets. We're also likely to see more rate cuts in twenty twenty six, and those lower boring costs are good for commodities and then for silver in particular. It is also used for some kind of real world applications like solar panels, data centers, electronics, and all of those things of course, will be a front of mind in twenty twenty six, so there is perhaps even further to go for that metals rally, and therefore for Fresnio shares as well.
Okay, so that's an interesting one to watch this morning. You've also been keeping an eye on defense docs, the likes of Ryan Mattal as well further reaction to the weekend talks over creature of Ukraine.
Yeah, so we're seeing today what we have seen repeated over the last few weeks, which is that defense shares go down when we hear that progress has been made on those Ukraine peace talks, and then they go up if it looks like the talks are not going as that well. So the same thing today because Trump said yesterday that he had made a lot of progress in the talks with Zelensky over that potential peace deal, and Zelenski also saying that the peace framework framework is ninety
percent agreed. So investors do really react to that kind of overall sentiment, maybe also surface level a sentiment, because beneath that optimism we know that there has been no major breakthrough. There are still issues that need to be worked out as part of that peace framework, and it's unclear whether Putin would actually be willing to accept that framework as well, so that is still unclear. And then also a peace deal wouldn't mean necessarily that Europe stops
investing in military capabilities. But regardless of what is actually happening or will happen, that optimistic tone is sending those defense stocks down this morning, and we are seeing a lot of weakness in the likes of Ryan Mattau, Leonardo sab Et, cetera.
Okay, and another one interesting one you've been watching as well, A big job for the biotech from bio Gaia. What's going on there?
Yeah, So that's not a company that I'd heard of before actually, but they make probiotic supplements for things like gut health and immunity, things like that. This is of course something that is kind of all the rage at the moment, part of that broader wellness boom, with everyone caring a lot about their protein intake and gut biome and all of that.
You haven't gotten it from Turkey over last.
Week, Yeah, exactly, But bio guys up this morning after DNB Carnegie raised the price target on that stock and said that they could see margins recover quite a lot in twenty twenty six, and they expect really strong sales growth for that and the end of this year for the fourth quarter, and then that momentum for earnings to continue and to be really strong and next year. So all around, is really good news for bio Gaia and this bit of confidence that has boosted those shares this morning.
The Stock Mover's Report from Bloomberg Radio. Check back with us throughout the day for the latest round 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.