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Now let's have a look at some of the stocks on the move today here in Europe. I'm Caroline Hepkitt and I'm joined by Bloomberg reporter of Chloe Malay. Good to see you. Chloe. On defense stocks up after President Trump has talked about NATO members should shoot down Russian planes that breach their airspace, so you know, quite combative stance when it comes to any incursions. Which names are moving in particular.
Well all of them really, so rain Mettalivisi is the biggest name, the most recognizable one, and it was up this morning, but we have really got the entirety of their European defense sector moving higher. Leonardo and Italy for example, sub in the Nordic's Talis in France, by in the UK, and then also other names that are related to that defense sector without being a directly defense company, like companies like Empty Area for example, that makes actually engines for
that sector. And that is, as you say, because of those remarks from Trump saying that NATO nations should shoot down those Russian jets that violate their airspace. There has been a series of incidents recently in which Russian aircraft have crossed into the airspace of NATO allies and that has been worrying the leaders of some of the smaller Eastern European nations, like Latvia for example. So Latvia's president called yesterday for a show of force from NATO in
response to those Russian incursions. Another thing that Trump said is that Ukraine should be able to fight back and win back all of its territory in its original form, which is a much more sympathetic and optimistic statement on Ukraine's chances of winning than Trump has said before. So that is also a shift in narrative. So those two
remarks really driven those defense names higher this morning. And you know, this is a sector that does well when tensions are high, and this is shown again today.
Yeah, Saba is the top performer currently on the European market. You've also got Leonardo and Kinetic in their defense names top ten best performers. Turning to semiconductors next, There's been lots of news on this in terms of semiconductors erasing earlier losses. Why is that.
Yeah, So we have some semiconductor companies this morning doing quite well, so not major moves on the kind of moves that we've seen in those defense names, but still still moving higher. So BE Semiconductor, for example in ASML were in positive territory today and that is because they were reacting to a very positive outlook for Micron Technology over in the US. So Micron makes computer memory chips
and it provided a very upbeat outlook last night. It said that the AI rush, that AI boom was really amaze benefit for them, and so that is translating into a boost for some of those semiconductor equipment makers that are supplies to Micron. So that includes, for example, as I mentioned, BE Semi and ASML. This is quite good news because just yesterday we had actually a negative news flow for that sector, where we had ASM International cutting its outlook for the second half of the year due
to weaker than expected demand. So it seems to have to be some contradictory sort of trends happening in that semiconductor market that is sending the shares kind of up and down depending on the day. So we'll have a look at what the third quarter ending season says about that outlook for all of those companies.
Okay, so that's Semiconductors and to Travel on the Beach, How did there summer look? What are they expecting?
Yeah, so on the Beach is a provider of package holidays for those who've not used it before, I haven't, but it is having a quite tough time this morning. The show is really plumited, and that is because their profit guidance, missed estimates are disappointed investors. So it said that I actually had a solid summer this summer, with bookings ahead of last year and then also ahead of
that wider package holiday market. It also said that winter bookings were tracking ahead, so everything is fine there, but where things start to get a little bit tougher for them is actually for next summer. So it noted a trend towards later bookings, which was already mentioned by Jed two.
They mentioned that people just go and buy their tickets more and more last minute, and that is obviously having an impact on that visibility for those companies, and it really seems to reflect that kind of lack of consumer confidence that doesn't seem to be getting any better.
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