Stock Movers Shell Advances, BAE Systems Gains, IAG Falls
Mar 2, 2026
Sam Unstead, Markets Today editor at Bloomberg who analyzes market moves. He breaks down how a spike in oil and natural gas reshapes trading. He explains why defence stocks like BAE Systems jumped amid geopolitical tension. He also covers the sharp hit to airlines and travel firms from regional disruptions.
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Oil Surge Prices In Short Term Risk
- Oil prices surged ~9% for Brent as markets priced in short-term supply risks from the effective closure of the Strait of Hormuz.
- Sam Unstead notes the STOXX 600 Energy Index hit a record high, reflecting sustained strength since last year's turmoil.
Duration Determines Market Impact
- Markets are reacting with a knee-jerk pricing of higher short-term oil, while the key question is the duration and sustainability of the shock.
- Sam Unstead stresses that persistence of tensions will determine broader market impact beyond the initial spike.
Defence Stocks Rally On Spending Odds
- Defence stocks rallied broadly as investors treated them as defensive plays amid conflict, boosting expectations of government spending.
- BAE Systems jumped as much as 8% earlier in the day, exemplifying the sector move noted by Sam Unstead.