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Let's take a look at some of the stocks on the move today in Europe. I'm Tiama Adabai with Caroline Habka, and we're joined by Bloomberg's Breaking News editor Louise Moon. Analysts are fueling moves in airline stocks this morning, taus, Why Louise.
Yes, indeed. So there's been note from Morgan Stanley on airline stocks, which is, as you say, impacting stock movements this morning. So the main thing, the crucial thing is it's saying complacency after sharp earnings cuts is offering opportunities in the market. So it's downgraded Lufthansa and luft Hander's
stock is kind of tracking that falling this morning. Upgraded air France, but its top pick is IAG, obviously the owner of British Airways, so they're saying that things like cost display and strong free cash flow sholder returns are all reasons for IAG to be a top pick, and
this kind of echoes what unless have been saying. Anyway, saying, so the kind of wider consensus is that IG's given everything that's going on the Middle East, rising fuel costs and everything that's come out of that conflict, the IEG has been it is being seen as being in a relatively strong position. They've got higher profitability and balance sheet
better positioned essentially to withstand all of these headwinds. So if you look at the analyst ratings for IG, they've got twenty seven buys, zero holds and just two cells and their shares are higher, so also moving in line with the others. On the back of that. Morgan Stanley note, so one of the top prizes morning on the Foots one hundred. So an interesting note there for Morgan Stanley having quite impact on airline stocks today.
Okay interesting.
Meanwhile, Kingfisher, the DIY retailer seems to be reassuring investors.
Have they done that? Yes, So, shares up as much as eight point three percent this morning, the top prizer on the foot Sea hundred here in London, that's and they briefly hit two month high within that, as you say, reassuring update. They had their first quarter sales. Now interestingly, sales actually fell and they blame a later spring coming and which resulted in a in a weaker football essentially, But the commentary is quite reassuring, is what Alice is saying.
So they're saying that they're resilient in the face of kind of wider headwinds and they're on track to meet their full year guidance, so holding up against a whole host of challenges that we're seeing across the retail sector.
So you've got a weaker consumer, higher costs later spring, as Kingfisher noted themselves, But Alice is saying that, yeah, holding up reassuring after recent pressure on the stock screw Fix one of their brands in particular performing very well, so shares really rising this morning.
Okay, so perhaps a resurgence coming for Kingfisher. But finally, Louis, everyone's talking about Ferrari this morning. It seems like the business wants to go green, but it's stock price seems to be going into the red.
It's going on there.
Yeah, So they've unveiled their first fully electric car. This is the kind of the final step. They had a three part reveal and Saunday evening presentation revealing the full extent of it. So it's a five seater it costs five hundred and fifty thousand euros. It's being seen as a big test for Ferrari. It's a breakaway from their heritage.
You know, there's questions over how much demand they'll be, the challenges of extending into battery when they're very much used to combustion engines, So it's a tough challenge for them. And it's a tough market. You've seen you know, rivals like Lamborghini and port they've slowed their electrification plans citing a lack of buying interest. So it's a tough market to go into. And shares falling very heavily this morning,
so they fell over eight percent. Reviews essentially for this are disappointing and saying they don't like the design, it's too close to Tesla, and one saying, which I thought is quite good quote, we are lost in translation with Ferrari's new strategy. So a lot of questions over what's going on, how how you know how successful this will and so far the reception is not good.
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