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Now, let's take a look at some of the stocks on the move here in Europe. I'm Caroline Hepga and I'm joined by Bluebeg's Markets Today editor Sam Onsted. Sam, let's start with oil, a key part of the Middle East story today. How is shelf faring and other stocks attached to the oil market?
Yeah, so, I think you know, this is probably you know, the main mechanism through which all of this concern and the geopolitical concern is feeding into markets. But you know, so oil prights is up at the moment, you know, on my screens at about nine percent. For break crud, oil stops aren't quite rising that much, so they're all up. The stock six hundred Energy index is at a new
record high. It has been heading in that direction pretty consistently over the course of the last year or so, and certainly since they're kind of tariff chaos last year. But yeah, you know, the key question not only for all stocks, but I suppose for broader markets as well, is how long this goes on for how sustained it is. But right now you're seeing a kind of knee jerk pricing in a much higher oil price in the short term.
Yeah, absolutely, USR price is also surging eight percent for WCI crewed and natural gas prices in Europe and the UK really seeing a big jump in natural gas prices in the UK up almost thirty percent. Defense stocks, though more broadly, have gained of course, on the concerns about ongoing conflict. Tell me which stocks have gained on that.
Yeah, again, pretty much all of them and another you know, fairly predictable move BA systems for example, as much as I think eight percent earlier on today, some of those games are pared a little bit, but again very strong performance there, and effectively by defense companies becoming kind of
defensive stocks. When things like this happen, you know, there's a very clear runway for out of the outlook for them for spending from governments around the world, and this only kind of strengthens that case.
Lastly, travel stocks, there have been flight cancelations, very widespread broad flight cancelations in the Middle East. Obviously, what does that mean for the likes of IAG and the other travel and tourism stocks.
So this is the flip side really of the story we were just talked about, particularly when it comes to oil. So you've got the combination of oil going up, so there's again a kind of knee jerk reaction to the potential that fuel costs are going to go up quite
significantly for airlies. But probably more significant is what you just mentioned Caroline, not just you know, flight shutdowns and operations being shut down, but in an extremely important part of the global airline industry, you know, particularly from Dubai and the UAE, extremely important for you sort of super connector hub for the airline industry. So it's crippling for
the whole industry. And again the question will be how long does this go on for how sustained is this before you can really start to understand how much of a financial hit these companies are going to take.
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