Bloomberg Audio Studios, podcasts, radio News.
The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll with Anna Edwards and we're joined by Bloomberg's Breaking These editor Louise Louise. Good morning. Of course, plenty of market reaction to the ceasefire news between the US and Iran. Let's start with airlines. Plenty of reaction there. How are the likes of Ryan Air doing exactly?
Yeah, So airlines as a whole are soaring on the back of this news. Obviously, they've been severely disrupted since the war began. You know, firstly, major connection hubs have been disrupted, so flight's been canceled, re routed. And then also high energy prices and constrained supplies of fuel. So both of those, all of those factors have been hitting airlines. And so today, on the back of this news, airlines
as a whole are soaring. They're making up ground, but they haven't, you know, fully recouped what they have lost since the war begam But as you say, Ryanair one of the key ones, up eleven as much as eleven percent this morning. Easy yet similar moves. IAG, the owner of British Airways, up about eight percent. And then this has been seen not just in London but across all of Europe. So in Germany you've got tuy which rose about twelve percent, of Hanza about ten per cents, all
sowing on the back of this news. So as I say, it hasn't totally made up their losses. They've had severe losses really since in their stock since the since the warbgam but making some headway there.
And let's just talk to the talk about the other end of that trade. I suppose Louise and that's the energy sector. It's really under pressure today. Oil price is considerably weaker. And we've also heard from Shell.
Yeah, so Shell had their first quarter production update, which is significant in the sense of their the first kind of oil major to report to report official numbers since since the war broke out. So they have said that the oil trading was in their word, significantly higher than the previous quarters of profiting on the back of that volatile market, but doing little to move their shares in
any positive direction. As you say, the focus is on oil's oil companies, you know, tracking that the stock in overall oil prices. So Shell shares down almost about seven percent BP about eight percent, and they're both kind of the key drags on the foot see hundred this morning. And again this is being seen all across Europe and also kind of in a similar way to airlines. It's
that reversal of what's happened before. So oil has been, oil firms have been, you know that their shares have sawed since since the spagan and now they're seeing a bit of a reversal of that, but again not a full reversal, bit a bit of that.
Yeah, and of course want to watch Clothes through the day as well, but away from the news coming out of the Middle East, some moves for Clothes Brothers this morning.
Yes, so non Middle East related Close Brothers shares sawed as much as twenty three percent in early trading and they're still off about sixteen percent. That's after they said that they can cover the what they estimate the cost to be related to the motor finance scandal that's been ongoing in the UK. So this is the amount that Close Brothers will will have to compensate customers that were missold car loans. This is all based on the latest
guidance from the FCA, which came out last week. So Close Brothers expects to face a three hundred and twenty million hit, which they say is broadly similar to the provisions that they kind of laid out in January. So they say no provision changes have been recognized and they think that they can absorb that. It's slightly more than they said in January. They said that can be absorbed by existing resources. They're one of the most exposed lenders to this, so very you know, their stock is very
reactive for news on this. But obviously other banks, you know, a host of other banks also affected, and billions has been set aside to compensate customers. But for Close Brothers in particularly very exposed and also quite a boost after there was a report by short sellar Visory Research relatively recently claiming that Close Brothers' provisions were too small. So this is obviously countering that, so as I say, shares soaring on the back of that.
In London, the Stockmovers 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.