Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move
Speaker 1: today in Europe. I'm Stephen Carroll and we're joined by
Speaker 1: Bloomberg's earnings specialist, Chloe Mela. Chloe, good morning to you.
Speaker 1: Starting with IWG Flexible Workplaces. What's going on with them?
Speaker 3: Yes, So IWG shares fell by quite a bit this morning. So,
Speaker 3: as you said, it provides coworking spaces, and the revenue fell,
Speaker 3: and it also narrowed its guidance for the four year
Speaker 3: towards the lower end of the range, and it said
Speaker 3: that was because of further investment in the business rather
Speaker 3: than than weakness in demand. Really, but the market did
Speaker 3: respond to the lower guidance quite negatively. But there were
Speaker 3: some positive things in that statement that there may be
Speaker 3: kind of worth mentioning. IWG did increase it's by back
Speaker 3: and it also said that the shift towards hybrid working
Speaker 3: is propelling it to the fastest growth that it has
Speaker 3: ever seen in its history. In marchin that had already
Speaker 3: posted record revenue in earnings four twenty twenty four because
Speaker 3: companies were really embracing flexible office policies and it seems
Speaker 3: like it is doing really really well in that area
Speaker 3: and really benefiting from it. But the short term investment
Speaker 3: into the business and the impact on the ebit is
Speaker 3: a little bit disappointing to the market. Maybe.
Speaker 1: Yeah, indeed, those shares fifteen percent lower this morning. International
Speaker 1: Workplace Group is that I couldn't remember which word was
Speaker 1: the last one? Which group? Yeah, group, thank you as
Speaker 1: I was trying to figure out what IWG was as
Speaker 1: I was reading it. That lead. Let's turn to Defense next.
Speaker 1: Ryan Mattal's shares a bit lower this morning. What's going on.
Speaker 3: Yeah, we've seen some weakness in Defense shares kind of
Speaker 3: across the board, so Ryan Mattal obviously being the biggest one,
Speaker 3: but we've always seen, always also seen some weakness in
Speaker 3: BA systems, in Leonardo and Hensold. The Defense stocks have
Speaker 3: been really responding to the ongoing talks over Piece in
Speaker 3: Ukraine over the last few days, so kind of going
Speaker 3: up or down depending on how likely the market is
Speaker 3: is envisioning a Piece deal. Really, what they seem to
Speaker 3: be responding to today is Trump urging a meeting between
Speaker 3: Putin and Zelenski, which would then be followed by a
Speaker 3: meeting between all three leaders. So Trump Putin and Zelenski,
Speaker 3: and so that's kind of weighing on the sheares. They're
Speaker 3: another thing weighing that potentially is also that Ukraine proposed
Speaker 3: buying one hundred and billion dollars in American weapons. So
Speaker 3: as Trump is kind of continuing to push to kind
Speaker 3: of broker and enter this conflict, we might see continued
Speaker 3: movements up or down in that defense sector. But right
Speaker 3: now it's definitely not a done deal at all. Trump
Speaker 3: did acknowledge that the time and location for a meeting
Speaker 3: have not been set yet and it's really unclear if
Speaker 3: Putin would be open to it anyway.
Speaker 1: Yeah, Indeed, s rhy Matah shares down just over four
Speaker 1: percent this morning in Germany and to glen Core next
Speaker 1: in the mining space shares up.
Speaker 3: Yeah, so glen Core and then other mining them. So
Speaker 3: if we look at Anglo American or Aslo Metal, for example,
Speaker 3: we're in that kind of steel making sector, they're also
Speaker 3: up this morning, and that's because there's been a positive
Speaker 3: read across from the results from PHP in Australia, so BHP,
Speaker 3: which is the world's largest minor. It actually reported a
Speaker 3: significant fall in profits to the lowest level since the pandemic,
Speaker 3: and that's because the price of iron ore has been
Speaker 3: under a lot of pressure because of weak demand in China,
Speaker 3: especially from the struggling property sector there, and then also
Speaker 3: a lot of global supply. So that led PHP to
Speaker 3: sell iron ore ad prices nineteen percent lower than a
Speaker 3: year ago, So that could have been seen as a negative,
Speaker 3: but BHP did provide quite quite a positive outlook. It
Speaker 3: said that future commodity demand could recover thanks to policy
Speaker 3: support in China and then also strong export at least
Speaker 3: resilient exports from China despite slower economic growth. And also
Speaker 3: it said that growth in India, where we know we've
Speaker 3: seen a lot of growth, infrastructure spending, manufacturing expansion, a
Speaker 3: lot of that should drive rises in demand for metals,
Speaker 3: so that should be quite positive and so we've seen
Speaker 3: that positive read across for the rest of the European miners.
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