1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:16,200 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,400 --> 00:00:17,920 Speaker 1: Let's take a look at some stocks on the move 5 00:00:17,960 --> 00:00:20,440 Speaker 1: today in Europe. I'm Stephen Carroll and we're joined by 6 00:00:20,560 --> 00:00:24,040 Speaker 1: Bloomberg's earnings specialist, Chloe Mela. Chloe, good morning to you. 7 00:00:24,800 --> 00:00:29,160 Speaker 1: Starting with IWG Flexible Workplaces. What's going on with them? 8 00:00:29,400 --> 00:00:32,479 Speaker 3: Yes, So IWG shares fell by quite a bit this morning. So, 9 00:00:32,560 --> 00:00:36,440 Speaker 3: as you said, it provides coworking spaces, and the revenue fell, 10 00:00:36,640 --> 00:00:39,159 Speaker 3: and it also narrowed its guidance for the four year 11 00:00:39,360 --> 00:00:41,880 Speaker 3: towards the lower end of the range, and it said 12 00:00:41,920 --> 00:00:45,200 Speaker 3: that was because of further investment in the business rather 13 00:00:45,240 --> 00:00:48,519 Speaker 3: than than weakness in demand. Really, but the market did 14 00:00:48,560 --> 00:00:53,479 Speaker 3: respond to the lower guidance quite negatively. But there were 15 00:00:53,520 --> 00:00:56,360 Speaker 3: some positive things in that statement that there may be 16 00:00:56,520 --> 00:01:00,240 Speaker 3: kind of worth mentioning. IWG did increase it's by back 17 00:01:00,560 --> 00:01:03,160 Speaker 3: and it also said that the shift towards hybrid working 18 00:01:03,520 --> 00:01:06,399 Speaker 3: is propelling it to the fastest growth that it has 19 00:01:06,480 --> 00:01:10,520 Speaker 3: ever seen in its history. In marchin that had already 20 00:01:10,560 --> 00:01:14,760 Speaker 3: posted record revenue in earnings four twenty twenty four because 21 00:01:14,800 --> 00:01:18,119 Speaker 3: companies were really embracing flexible office policies and it seems 22 00:01:18,160 --> 00:01:21,240 Speaker 3: like it is doing really really well in that area 23 00:01:21,319 --> 00:01:25,919 Speaker 3: and really benefiting from it. But the short term investment 24 00:01:26,400 --> 00:01:29,960 Speaker 3: into the business and the impact on the ebit is 25 00:01:30,080 --> 00:01:32,200 Speaker 3: a little bit disappointing to the market. Maybe. 26 00:01:32,440 --> 00:01:35,400 Speaker 1: Yeah, indeed, those shares fifteen percent lower this morning. International 27 00:01:35,440 --> 00:01:37,880 Speaker 1: Workplace Group is that I couldn't remember which word was 28 00:01:37,920 --> 00:01:41,240 Speaker 1: the last one? Which group? Yeah, group, thank you as 29 00:01:41,280 --> 00:01:42,920 Speaker 1: I was trying to figure out what IWG was as 30 00:01:42,920 --> 00:01:45,039 Speaker 1: I was reading it. That lead. Let's turn to Defense next. 31 00:01:45,120 --> 00:01:47,240 Speaker 1: Ryan Mattal's shares a bit lower this morning. What's going on. 32 00:01:47,400 --> 00:01:50,240 Speaker 3: Yeah, we've seen some weakness in Defense shares kind of 33 00:01:50,240 --> 00:01:52,920 Speaker 3: across the board, so Ryan Mattal obviously being the biggest one, 34 00:01:52,960 --> 00:01:55,600 Speaker 3: but we've always seen, always also seen some weakness in 35 00:01:55,920 --> 00:01:59,840 Speaker 3: BA systems, in Leonardo and Hensold. The Defense stocks have 36 00:01:59,880 --> 00:02:03,160 Speaker 3: been really responding to the ongoing talks over Piece in 37 00:02:03,280 --> 00:02:05,840 Speaker 3: Ukraine over the last few days, so kind of going 38 00:02:05,920 --> 00:02:09,120 Speaker 3: up or down depending on how likely the market is 39 00:02:09,120 --> 00:02:11,519 Speaker 3: is envisioning a Piece deal. Really, what they seem to 40 00:02:11,600 --> 00:02:14,920 Speaker 3: be responding to today is Trump urging a meeting between 41 00:02:15,200 --> 00:02:18,000 Speaker 3: Putin and Zelenski, which would then be followed by a 42 00:02:18,040 --> 00:02:21,240 Speaker 3: meeting between all three leaders. So Trump Putin and Zelenski, 43 00:02:22,000 --> 00:02:24,560 Speaker 3: and so that's kind of weighing on the sheares. They're 44 00:02:24,760 --> 00:02:28,000 Speaker 3: another thing weighing that potentially is also that Ukraine proposed 45 00:02:28,000 --> 00:02:31,960 Speaker 3: buying one hundred and billion dollars in American weapons. So 46 00:02:32,400 --> 00:02:34,880 Speaker 3: as Trump is kind of continuing to push to kind 47 00:02:34,919 --> 00:02:37,680 Speaker 3: of broker and enter this conflict, we might see continued 48 00:02:37,720 --> 00:02:41,000 Speaker 3: movements up or down in that defense sector. But right 49 00:02:41,040 --> 00:02:43,800 Speaker 3: now it's definitely not a done deal at all. Trump 50 00:02:43,880 --> 00:02:46,359 Speaker 3: did acknowledge that the time and location for a meeting 51 00:02:46,840 --> 00:02:49,160 Speaker 3: have not been set yet and it's really unclear if 52 00:02:49,160 --> 00:02:50,760 Speaker 3: Putin would be open to it anyway. 53 00:02:50,960 --> 00:02:53,399 Speaker 1: Yeah, Indeed, s rhy Matah shares down just over four 54 00:02:53,440 --> 00:02:57,000 Speaker 1: percent this morning in Germany and to glen Core next 55 00:02:57,360 --> 00:02:59,399 Speaker 1: in the mining space shares up. 56 00:03:00,080 --> 00:03:02,440 Speaker 3: Yeah, so glen Core and then other mining them. So 57 00:03:02,680 --> 00:03:05,480 Speaker 3: if we look at Anglo American or Aslo Metal, for example, 58 00:03:05,520 --> 00:03:07,960 Speaker 3: we're in that kind of steel making sector, they're also 59 00:03:08,080 --> 00:03:10,520 Speaker 3: up this morning, and that's because there's been a positive 60 00:03:10,560 --> 00:03:14,959 Speaker 3: read across from the results from PHP in Australia, so BHP, 61 00:03:15,040 --> 00:03:18,239 Speaker 3: which is the world's largest minor. It actually reported a 62 00:03:18,360 --> 00:03:22,160 Speaker 3: significant fall in profits to the lowest level since the pandemic, 63 00:03:22,160 --> 00:03:24,480 Speaker 3: and that's because the price of iron ore has been 64 00:03:24,560 --> 00:03:27,680 Speaker 3: under a lot of pressure because of weak demand in China, 65 00:03:27,760 --> 00:03:31,200 Speaker 3: especially from the struggling property sector there, and then also 66 00:03:31,240 --> 00:03:34,680 Speaker 3: a lot of global supply. So that led PHP to 67 00:03:34,720 --> 00:03:37,920 Speaker 3: sell iron ore ad prices nineteen percent lower than a 68 00:03:38,080 --> 00:03:40,440 Speaker 3: year ago, So that could have been seen as a negative, 69 00:03:40,440 --> 00:03:44,280 Speaker 3: but BHP did provide quite quite a positive outlook. It 70 00:03:44,320 --> 00:03:48,080 Speaker 3: said that future commodity demand could recover thanks to policy 71 00:03:48,120 --> 00:03:51,720 Speaker 3: support in China and then also strong export at least 72 00:03:51,760 --> 00:03:56,400 Speaker 3: resilient exports from China despite slower economic growth. And also 73 00:03:56,480 --> 00:03:58,840 Speaker 3: it said that growth in India, where we know we've 74 00:03:58,880 --> 00:04:03,640 Speaker 3: seen a lot of growth, infrastructure spending, manufacturing expansion, a 75 00:04:03,680 --> 00:04:07,000 Speaker 3: lot of that should drive rises in demand for metals, 76 00:04:07,000 --> 00:04:09,240 Speaker 3: so that should be quite positive and so we've seen 77 00:04:09,280 --> 00:04:13,440 Speaker 3: that positive read across for the rest of the European miners. 78 00:04:15,040 --> 00:04:19,080 Speaker 2: The Stock Movers Report from Bloomberg Radio. 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