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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll with Lizzie Burton, and we're joined by Bloomberg's Tiva at a Bio Tiva. Let's start then with Ryan Mattal. How has the defense firm been affected by the conflict in the Middle East.
Yeah, Steven, when we're really capping off the week of positive gains across the defense sector, Others also like HENSLT moving higher as well, and that's on the expectation of further military spending. Really, every day that this conflict continues, we see that expectation grow and that translates into more orders for these defense names, their names like Ryan Mattel
moving higher today. And this war also is showing no signs of letting up, and so until we have perhaps more clarity on when the war might end, we're likely to see this continue. But with respect to Rhein Mattal specifically, the drone attacks in Iran are sort of underscoring the need for lower cost interceptions. That's according to the latest analysis from Bloomberg Intelligence. So they're seen as a potential beneficiary of this. That's why we're seeing them move a bit higher this morning.
It's interesting. I was speaking to an analyst earlier about why European defense hot stocks haven't moved even higher, and they were saying that the war is good for Russia because of higher oil, and US defense stocks seem to be benefiting even more so, kind of at the expense of European defense names. But we also have to talk to you or about airline. We've had left hands the reporting earnings this morning, just talk to us about their situation.
Well, it has been a kind of a difficult situation for airlines over the last few days. There have been numerous concerns about flights being canceled. We've seen the number of cancel flights to the Middle East hitting a twenty seven thousand to day since the fighting began. That's been tricky for firms like is really struggling. But actually luft Hansa is kind of bucking that trend today for two reasons. So firstly, they did report results today and there were
strong numbers. They're predicting a significant improvement in earnings actually this year, but also left Hansa is kind of looking for the opportunity amidst this wider disruption. They've announced this morning that they are actually considering adding more flights onto routes to Africa and Asia, and that's as demand is really rising. They're trying to scoop up those passenger flows that would otherwise have been served by Middle East carriers.
So investors aren't reacting positively to those bits of views from Lufthansa this morning.
And away from events in the Middle East, you've been looking at some good news for the broadcaster ITV.
Yeah, a bit of a surprise from ITV this morning, one of the biggest winners on the stock six hundred. It's been up nearly eight percent. Has paired slightly now, but that's their biggest move since November. And this is really off the back of an analyst upgrade, which is a sort of dissipating anxiety about weakness in advertising demand. And say, we saw worries around this towards the end of last year, and that was tied to uncertainty around
the UK budget. Those concerns did begin to clear a bit in December, and that's a trend that this analyst is expecting to continue throughout the beginning of this year, and that's paving the way for more growth in the summer. Of course, ties to the start of the World Cup, which is due to be broadcasts in June this year, so investors optimistic about ITV's prospects.
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.