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Let's take a look at some of the socks on the mood today here in Europe. I'm Caroline Hepgin with Jack Sitters, and we're joined by Bloomberg reporter Chloie Malay. Chloe amid the tensions in the Middle East, the oil producer REPSOL moving significantly tell us more.
Yeah, Well, oil companies across the board in Europe have gone originally a big boost from the conflict in the Middle East. Of course, the oil prices were moving higher because of concerns around that disruption to the global energy supply, and then that translated into the share prices of oil
majors moving higher. But today there's weakness across the board, Repsol being one of those, and a lot of that has to do with Trump's planter and insure and escort oil tankers moving through the Persian Gulf, which he said would avoid the energy crime that is brewing, and so that has caused some pullback in oil prices and therefore pullback in oil companies a share prices this morning, but the industry says the plan from Trump is only really a partial fix, that it lacks clarity on how it
actually would be implemented. You know, it's of a far larger scale than some previous similar plans and much more complex given the amount of producers and consumers involved. So that is going to be a little bit difficult to execute, the cost of it, the execution of it, all of that remains a big question mark. So we'll have to see. But in the meantime, the impact on the oil sector has been share prices in the red this morning, and Clarie shipping company Musk also in the spotlight.
How are investors reacting there?
Yeah, this is another one of those companies that benefited from the conflict. At first, the reasoning being that tensions in the Middle East, the closing of some key shipping routes means higher container rates and so that means of
course better earnings for companies like Musk. But this is the same thing is with oil companies this morning, where we have this plan from Trump to ensure and escort those energy tankers, and so that is easing the concerns around disruption to the shipping industry, and so we are seeing mask shares seeing some weakness. But you know, the company did have did add an emergency rate increase on shipments to and from countries like the UAE, Saudi Arabia KUWAD.
So there is definitely still a boost to raids, but the concern is that that will maybe not last.
Yeah, I think that it's worth adding the caveat if necessary. The President said the United States Navy will begin escorting tankers through the Strait of Houle Moves as soon as possible in his words, but I think that if necessary, and the kind of timing of it is also important to understand just one stock that we want to talk about, which actually isn't kind of related to geopolitics. Added as reporting today, what's the market reaction and why that story?
Yeah, well there's a lot of week is thirty does today so it expects higher profits this year, but the forecast was still below analyst expectations, so that is the reason why we're seeing a lot of weakness this morning. It also expects a negative impact of about four hundred million euros from US tariffs and also negative impact from
negative currency fluctuations of rather unfavorable currency fluctuations. They are some good news in the statement it expects to get in market share through to twenty twenty eight with both its retro sneakers, which have been a big part of the strategy over the last few years, but also more
product development in running and in football. We've got, of course the football work up coming in the next few months, and it also promised bigger payouts, but all of that was not enough to offset the impact of that very disappointing guidance, addedas does have the tendency to be quite conservative with guidance initially, so it could raise the bar throughout the year, but in the meantime we're seeing a lot of weakness.
This morning the Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup 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.