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Maersk Gains, Beiersdorf Drops, Lufthsnsa Falls
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Maersk is upgraded to neutral from underperform at Bank of America. The escalation in the Middle East crisis has pushed back a re-opening of the Red Sea, meaning shipping rates will remain elevated. The shares gain as much as 5.9%, the most since Jan. 12, amid a sector-wide advance.
- Beiersdorf shares fall as much as 13%, the most since August, after the German owner of the Nivea brand posted disappointing guidance for the year that is likely to lead to consensus cuts, according to Citi.
- European airline stocks slump as conflict in the Middle East causes major disruptions at some of the world’s busiest airports. Analysts warn that higher fuel costs and airspace closures will weigh on the sector.
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