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Let's have a look at some of the stocks on the move today here in Europe. I'm Caroline Hepkin. I'm joined by Blueberg with Reported Tuba at a Baio Tuba. Good morning, So let's talk about Rio Tinto. Is this the result of the Iran war? What's been happening?
Well, we are watching European writing shares more broadly after the weekend strikes by Iran on aluminium plants in the UAE and buff Rain. The latest activity there is it's thought that it could send what is currently a very fragile market into crisis. That's by raising the chances of record prices for aluminum. We did see aliminium futures on the London Metal Exchange surge this morning by the most
since twenty twenty four. But in terms of Rio Tinto specifically, they are up as much as four point four percent this morning. Some of that is actually tied to their announcement about operations at a key port in Western Australia that facility had been affected by a tropical cyclone, but they're saying this morning that shipping there is expected to resume in the coming days. It is part of a wider problem for the sector. It's that recent weather events
have impacted iron or shipments by eight million tons. There was a previous storm in February which made an impact too. But the positive for Rio Tinto is it looks like full service will be resumed soon, so it moves on that. But also this prospect of higher metals prices after Iran strikes on those facilities over the weekend, So something to watch in the coming days.
Yeah. Absolutely. You're seeing other movers like Norse, Chaiedro and glen Core also up this morning on similar themes. We've seen gains for Sedexo. What is behind that move?
If you're not aware Sdexo is it a food services company offers everything and facilities management to employee benefit solutions. Those of us that have worked on the continent might be familiar with the Sadexo cars. I think they've now rebranded issued by your workplace, which you can use for groceries and other things. Anyway, they're up over four percent this morning and that's actually after an upgrade from analysts
at Jeffries. Now, the thinking here is that Sdexo's upcoming results and also their capital markets day will sort of provide an opportunity for a reset, so to sort of recharge invested expectations before hoping to build momentum. The note from Jeffries says the firm is setting a realistic framework and building a track record of consistent delivery. They say this is going to be vital if the stock is to rerate, so perhaps they are on track for improvement.
The note also does welcome the appointment of the firm's first ever external CEO, which happened in October. So certainly for Jeffries, Sadexo is one to watch over the coming weeks and months, and it's does seem like it's also caught the attention of investors this morning.
Interesting and then lastly we jumped to Boohoo. They have announced results this morning. This is the fashion brand.
Yes, so it's a bit of a change of pace here for boo who we heard a lot about their struggles in recent months, but today they have exceeded their ebit DAR guidance for the year ending February twenty twenty six. It's a thirty six percent increase from last year in terms of that metric. But as I mentioned, we've heard lots about how this business has been struggling. It's experienced record losses and ninety five percent share dropped since twenty twenty.
It was acquired by Debenhams in twenty twenty one, but this latest set of results is perhaps evidence that their turnaround plan might be working. It shares up as much as six point seven percent this morning. One analyst from Panma Librum is saying that much of the hard work to transform this business has now been done as complete and that the green shoots are evident. Oay, We'll keep an eye on Boohoo, but a positive reaction from the market this morning.
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