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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some of the stocks on the move today in Europe. I'm Lizzie Berden in London with Stephen Carroll in Brussels, and we're joined by.
Bloomberg's Teama at a Bio Tea. A good morning.
I want to start with Easyjets surging this morning after what it called a highly opportunistic takeover.
Bit tell us more.
Yeah, easy jat really the story of the morning, at least as far as Europe is concerned. It's still the biggest gainer on the stock six hundred up as much as thirteen percent.
That is the highest in three months.
And as you mentioned, that's after the Pe firm Castle Lake said late on Friday that it's considering an offer for the carrier.
So, in terms of what we know so far.
Easyjets board hasn't yet engaged in discussions with the firm directly, but it does say that it remains confident in its own strategy, underpinned by cash protection and a profit outlook.
But analysts do like this potential move.
JP Morgan says Castle Lake is credible with a history in the European airline sector and also a specialism in asset backed investing. Barclay's also noting that the airline industry
as a whole is navigating a tricky time. We know this due to the Iran War, those higher fuel costs, and it highlights that their analysis shows that easy Jet is trading at the largest discount to net asset value of any European airlines, So potentially there is a bigger opportunity here for the broader sector in terms of undervaluation across European airlines. Perhaps it's a sector to watch more
closely in the coming weeks. But easy Jet definitely the biggest mover on the stocks six hundred this morning, Yeah, nearly ten percent.
Currently.
Let's go to technology and a perhaps a slightly retro name for some Nokia making gains this morning.
Yeah, the mover up just over three point six percent. It's definitely a name today that's getting swept up in the AI rally that we're seeing. We can see that nineties fashion is back in style at the moment. It seems that nineties stocks are as well, at least the tech ones. We've seen great reporting on the terminal about the likes of Dell and Lenovo also back thanks to this unbridled spending that we're seeing in the AI space.
There's this rush to build out AI infrastructure and it's really led to this soaring demand for everything from computer servers to storage components, and it means that any stock that has any sort of exposure to this area seeing a real frenetic rally. So shares in Nokia have surged more than one hundred and twenty four percent this year.
It's the fourth best performer in the stock's six hundred and AI spending certainly looks like it's here to stay, at least for the time being, so perhaps we'll see some more gains for these vintage tech stocks to come.
Just finally, tore some moves for Pan African Resources as well.
Yeah, losses across the board from miners. The biggest loser here. Pan African Resources down as much as twelve percent.
That's the most in ten weeks. It is the worst.
Performer amongst peers, and that's after an operational update which came out over the weekend. Projecting that full year production would be at the lower range of its guidance. So a difficult day for Minus today as we've seen gold drop slightly, but Pan African Resources and leading the losses there.
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