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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carol and I'm joined by Bloomberg's Chloe Melee for more. Chloe, let's start with energy in focus this morning. Of course, again, what's happening with the oil producer reps ale.
Yeah, well, we've seen quite a lot of weakness across the board for some of those energy names this morning, Repsol being one of them. And so a lot of that has to do with Trump saying that if necessary, the US will work to ensure and escort oil tankers moving through the Persian Gulf, which he said would avoid an energy crisis. And so that has caused some pullback in oil prices and therefore a pullback in oil companies
share prices. So that's a bit of a reversal from what we've seen over the last couple of days with oil prices and oil company's share price is moving much higher. But the industry, the shipping industry is saying that the plan from Trump is only really a partial fix, and that it lacks a lot of clarity on how it would actually be implemented. It's a much more complex plan with a much larger scale than similar plans that have come before, and you know, given the number of producers
and consumers involved, the complexity is really quite staggering. And some ship owners have also said that they're wary of relying a little bit too much on a volatile US administration. So the execution of it, the cost of it, a lot of there's a lot of question marks that remain. But in the meantime, we have seen that impacting some of those share prices across that energy sector.
This morning. Okay, so that's the energy sector. Turning to defense, then what's happening with Ryan Mattal Shares, Yeah.
Ryan Mettal, Leonardos, all of those names moving higher today. This is the same story really as it has been over the last couple of days, which is that the tensions in the Middle East will likely mean higher defense spending and that will then benefit the likes of Ryan
Mattawan all of those peers within that defense sector. This is really even more relevant now that Europe has been pulled into the conflict with the threats on Cyprus or the British airbase on Cyprus being struck by a drone strike on Sunday, which is marked the first and so far the only attacked on European territory. But that means that now a Greece, which is one of the close allies Cypress, and then the UK and France are involved
in boosting those defense capabilities for Cyprus. And then of course let's not forget that the war in Ukraine is still very much happening. It shows no sign of ending, and so all of that points to high defense spending higher for LONGO as well, which then now translates into all of those defense names in the green this.
Morning, okay, and then turning to move outside of geopolitics, history tell us more about what's happening with them.
Yeah, very very bad day for history. Shares really plunged this morning. There's two things that are happening. The first is that the CEO is retiring after almost ten years leading the company. And then secondly, the company also warned of quite slow growth this year and saying that the market conditions would remain really challenging and that might be
worsened by what is happening geopolitically as well. It's expecting profit delivery to be very similar to that of last year, and last year revenue and profit declined, so obviously investors are a little bit disappointed by this. It doesn't bode well for the rest of the house building sector either. It's been, of course, dealing with a very few, very
difficult few years. It's been a period marked by high interest rates, of course, the end of government stimulus to help buyers, and then of course a couple of budgets as well under labor. They have created some uncertainty and therefore quite a muted market. Vistory did say it was quite optimistic about the spring selling season. Soldiers have to see if that's enough to boost it again.
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