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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 Melee for more. Chloic, good morning, Good morning. Let's start then with the basic resources sector. Copper's heading for its longest winning streak since twenty seventeen, and glen Core is among the companies benefiting from that.
Yeah. Absolutely, So we were talking yesterday about how good it is to be a kind of a gold and silver minor because of those pressures metals rallying. But it's also great to be a copper mina like glen Cork because, as you said, copper is seeing that major rally and it is headed for its longest winning run since twenty seventeen, and that is because there are growing concerns around the
supply chain for copper. There's been quite a lot of disruptions and some big copper minds at this year, and this really tight supply comes at a time when copper is in really high demand because it's a crucial material for a bunch of different things. We're talking about smartphones, fridges, electric vehicles, power grids, et cetera. But it's also really essential for data centers and of course that is going to be very important at heading into next year as well.
And then we also have traders shipping really big volumes into American ports to try and get ahead of any potential tariff. So we have this supply and demand dynamic that is fueling that rally and glen Core is a big beneficiary of that. And we have seen shares rising this morning as that rally continues.
So I want to watch throughout the trading session today as well. Turning them to homebuilders in the UK. Been watching shares and Vestry Group Why yeah.
So Vistu housebuilder that it's seeing a bit of weakness and usually we uh that weakness in housebuilders happens when we get data about the troubled housing market in the UK, and today we got some data from Lloyd's about the commuter towns around London seeing the biggest drop in house prices in twenty twenty five. So we're talking about thirty five thousand pounds being wiped off the valuation of the average home in a community commuter town like Crawley for example.
So this really exemplifies that big gap that we are seeing, that widening gap between the housing market in and around London, which is the most expensive in the country of course, and the rest of the UK, so house prices and the growth in house prices is actually doing quite well
in places like Scotland and Yorkshire. In Plymouth Plymouth was actually the one where the house price growth was the strongest, but not in London and not in the areas around London either and that is a problem for housebuilders because it really shows kind of the magnitude of the challenges that they're facing despite all the planning reform and the efforts from the government to try and get that housing market back on track.
Quite like the idea of Plymouth being an answer to a quiz question at the end of the year. As well as how surprises grew the most this year. Let's turn then to the defense sector of course, one we've been watching through the whole of the year as well, and Ryan mattallan focus again powering gains for the DAKS index in Germany.
Yes, des By kind of ups and downs in recent weeks for defense stalks. Ryan Mattau remains the best performer on the Dax index this year, and it is a big part of the reason why that index is set for its biggest annual gain in six years. So there is continued enthusiasm for that company, which kind of, regardless of what happens with the Ukraine peace process, is set to continue to really benefit from Germany's plans to spend billions on defense and infrastructure to kind of zone back
in on. Today we are seeing how those Ukraine peace talks are feeding into that stock performance for Ryan Mattau. Yesterday we saw that stock down because Trump was saying that a lot of progress had been made on peace talks.
Within today it's because those talks are facing fresh fresh challenges, with Putin saying that Ukraine and droons had targeted his residents and saying that he would revise a negotiating position as a result, and so that is leading to some of those defense stocks being highed this morning, including a Ramada.
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