1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,079 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,280 --> 00:00:17,640 Speaker 1: Let's take a look at some of the stocks on 5 00:00:17,640 --> 00:00:19,800 Speaker 1: the move today here in Europe. I'm Caroline Hepgo with 6 00:00:19,920 --> 00:00:22,960 Speaker 1: Jimina Bisecci, and we're joined by Bloomberg's Equity to Report, 7 00:00:23,120 --> 00:00:26,240 Speaker 1: Sam Onnsted. Sam, good to have you with us this morning. 8 00:00:26,280 --> 00:00:29,200 Speaker 1: With so many earnings and so many companies to think about, 9 00:00:29,400 --> 00:00:32,720 Speaker 1: Let's begin with Buyersdorf their shares with their lowis since 10 00:00:32,760 --> 00:00:35,600 Speaker 1: November twenty twenty two. What's been going on with this 11 00:00:35,680 --> 00:00:37,519 Speaker 1: sort of consumer facing business. 12 00:00:37,680 --> 00:00:39,880 Speaker 3: Yes, so this is the German company that owns Nivea, 13 00:00:40,360 --> 00:00:43,400 Speaker 3: and a lot of the weakness here is volume lead 14 00:00:43,479 --> 00:00:46,080 Speaker 3: and consumer led, so the consumer part of the business. 15 00:00:46,080 --> 00:00:47,800 Speaker 3: There is another part of Baya which is sort of 16 00:00:48,000 --> 00:00:50,040 Speaker 3: more in Bierstorff, which is more in the sort of 17 00:00:50,080 --> 00:00:53,280 Speaker 3: chemicals area, but this is very much led by the 18 00:00:53,280 --> 00:00:57,560 Speaker 3: consumer part and volumes going down. Volumes certainly weaker than expected. 19 00:00:57,960 --> 00:00:59,960 Speaker 3: So that will raise this kind of question that we 20 00:01:00,120 --> 00:01:02,960 Speaker 3: been seeing from a few consumer companies over the course 21 00:01:03,000 --> 00:01:06,200 Speaker 3: of the last earning season of whether they're going to 22 00:01:06,240 --> 00:01:08,440 Speaker 3: have to start raising prices again, how far they can 23 00:01:08,480 --> 00:01:10,960 Speaker 3: do that in order to deliver revenue growth if volumes 24 00:01:10,959 --> 00:01:13,080 Speaker 3: are starting to come under a little bit of pressure. 25 00:01:13,520 --> 00:01:16,640 Speaker 1: And in the insurance space, ensure his Clock's shares have jumped. 26 00:01:16,640 --> 00:01:17,080 Speaker 2: Why is that? 27 00:01:17,920 --> 00:01:19,880 Speaker 3: Yeah, So there's a couple of stories here with Hiscock. 28 00:01:19,920 --> 00:01:23,480 Speaker 3: So for the company itself, they had a surprise buyback 29 00:01:23,760 --> 00:01:26,760 Speaker 3: in there. You know, another season when particularly in London 30 00:01:26,760 --> 00:01:28,360 Speaker 3: where you have a lot of cheap stocks, that a 31 00:01:28,440 --> 00:01:30,440 Speaker 3: lot of companies are buying back a lot of shares. 32 00:01:30,720 --> 00:01:33,080 Speaker 3: This one was not expected, so that's that's driven a 33 00:01:33,080 --> 00:01:35,600 Speaker 3: lot of the share price jump. The other interesting thing 34 00:01:35,640 --> 00:01:39,960 Speaker 3: with these guys and their rival, Lancashire also reported today 35 00:01:40,080 --> 00:01:42,520 Speaker 3: there's a bit of anxiety going into these results because 36 00:01:42,520 --> 00:01:46,600 Speaker 3: of their exposure to the California wildfires, and Lancashire said 37 00:01:46,640 --> 00:01:49,080 Speaker 3: that the industry overall is looking at about forty billion 38 00:01:49,160 --> 00:01:52,680 Speaker 3: pounds worth of losses. But because both Lancashire and his 39 00:01:52,800 --> 00:01:56,480 Speaker 3: Cocks kept their guidance and in Hiscocks's case, issued a 40 00:01:56,520 --> 00:01:58,960 Speaker 3: buy back, that sort of reassured the market a little bit. 41 00:01:59,120 --> 00:02:03,520 Speaker 1: Okay, So that on the insurant his cock. Meanwhile, glen Core, 42 00:02:03,880 --> 00:02:07,560 Speaker 1: there was a big issue about whether this major minor 43 00:02:07,680 --> 00:02:09,280 Speaker 1: was going to move to the US in terms of 44 00:02:09,320 --> 00:02:11,839 Speaker 1: it's listing, but that doesn't seem to be happening now. 45 00:02:12,080 --> 00:02:14,320 Speaker 3: It does not appear to be happening. Hesitated to call 46 00:02:14,400 --> 00:02:16,040 Speaker 3: this a boost for the London market, maybe more of 47 00:02:16,080 --> 00:02:18,440 Speaker 3: a relief you're not going to lose kind of a 48 00:02:18,520 --> 00:02:21,320 Speaker 3: large stock. I think with glen Core, some of this 49 00:02:21,440 --> 00:02:23,440 Speaker 3: was being driven by that they had sized up their 50 00:02:23,440 --> 00:02:25,280 Speaker 3: coal business in the last few years. There is more 51 00:02:25,320 --> 00:02:28,800 Speaker 3: appetite for fossil fuel investment in the US, so that 52 00:02:29,120 --> 00:02:31,320 Speaker 3: had been part of the attraction. They did mention on 53 00:02:31,360 --> 00:02:32,920 Speaker 3: the call today they didn't think they were going to 54 00:02:32,919 --> 00:02:34,440 Speaker 3: be able to get into the S and P five 55 00:02:34,520 --> 00:02:36,440 Speaker 3: hundred if they were to move over there, so that 56 00:02:36,560 --> 00:02:39,240 Speaker 3: really reduces the attraction of doing that. And then beyond that, 57 00:02:39,240 --> 00:02:41,200 Speaker 3: they also had results out which were a bit weaker 58 00:02:41,240 --> 00:02:43,720 Speaker 3: than expected, so earnings fell a bit short. Because it's 59 00:02:43,720 --> 00:02:46,120 Speaker 3: worth remembering, of course, they have a big exposure to 60 00:02:46,160 --> 00:02:49,720 Speaker 3: copper and there's been a lot of tariff related turmoil 61 00:02:49,760 --> 00:02:52,440 Speaker 3: in copper markets over the last few weeks and really 62 00:02:52,840 --> 00:02:55,280 Speaker 3: over the course of as you know since April, really 63 00:02:55,320 --> 00:02:58,799 Speaker 3: there's been a lot of uncertainty and volatility going through 64 00:02:58,800 --> 00:03:02,280 Speaker 3: those markets, combination really of no move to the US 65 00:03:02,680 --> 00:03:05,120 Speaker 3: and also earning s folding a bit short of expectations. 66 00:03:06,840 --> 00:03:11,079 Speaker 2: The Stockmover's Report from Bloomberg Radio. Check back with us 67 00:03:11,080 --> 00:03:13,880 Speaker 2: throughout the day for the latest roundup of companies making 68 00:03:13,960 --> 00:03:17,560 Speaker 2: news on Wall Street and for the latest market moving headlines. 69 00:03:17,800 --> 00:03:21,800 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 70 00:03:21,840 --> 00:03:24,920 Speaker 2: dot com, and on Applecarplay and Android Auto with the 71 00:03:24,960 --> 00:03:26,320 Speaker 2: Bloomberg Business app.