1 00:00:00,080 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,760 --> 00:00:19,360 Speaker 1: Let's take a look at some stocks on the move 5 00:00:19,400 --> 00:00:21,880 Speaker 1: today in Europe. I'm Stephen Kahra with Tom McKenzie, and 6 00:00:21,880 --> 00:00:25,200 Speaker 1: we're joined by Bloomberg's equities reporter Joe Easton. Joe, good morning. 7 00:00:25,280 --> 00:00:27,400 Speaker 1: Let's start with the latest in the saga, that is 8 00:00:27,440 --> 00:00:30,720 Speaker 1: the back and forth Steen Energy giants, Shell and BP 9 00:00:31,400 --> 00:00:33,440 Speaker 1: talk us through what's happening on markets this morning. 10 00:00:34,080 --> 00:00:34,839 Speaker 2: Yeah, so it's just. 11 00:00:34,800 --> 00:00:36,800 Speaker 3: A complete back and forward, as you say this. So 12 00:00:37,159 --> 00:00:39,159 Speaker 3: last night we had loads of excitement because there was 13 00:00:39,159 --> 00:00:42,120 Speaker 3: a report in the Wall Street Journal saying that Shell 14 00:00:42,640 --> 00:00:46,320 Speaker 3: was potentially looking at doing a bid for BP. Something's 15 00:00:46,320 --> 00:00:49,360 Speaker 3: been speculated on over the past few months. So there's 16 00:00:49,400 --> 00:00:53,040 Speaker 3: big movements in the ads the US stocks for those companies. 17 00:00:53,400 --> 00:00:56,640 Speaker 3: But then today, and actually shortly after that statement, Shell 18 00:00:57,040 --> 00:01:00,960 Speaker 3: coming out and saying that they are not actively considering 19 00:01:01,000 --> 00:01:03,920 Speaker 3: making office. This is an RNs today. They also did 20 00:01:03,920 --> 00:01:06,560 Speaker 3: a short update last night as well, but very much 21 00:01:06,600 --> 00:01:08,920 Speaker 3: stronger in their wording today, saying this is not going 22 00:01:08,959 --> 00:01:11,920 Speaker 3: to go ahead. So at the moment, BP shares are 23 00:01:11,959 --> 00:01:14,880 Speaker 3: pretty much bang on where they closed yesterday and Shell 24 00:01:15,319 --> 00:01:18,319 Speaker 3: only up zero point two percent, so basically we haven't 25 00:01:18,360 --> 00:01:20,679 Speaker 3: seen any action. It was all in the ADR, so 26 00:01:20,760 --> 00:01:23,800 Speaker 3: lots of movement, lots of incitement. The general take from 27 00:01:23,800 --> 00:01:26,000 Speaker 3: analysts is that this would be too much for a 28 00:01:26,120 --> 00:01:29,800 Speaker 3: risk for Shell, given they've had a big strategy change recently, 29 00:01:29,880 --> 00:01:33,000 Speaker 3: refocusing on a lot of their fossil fuel business, and 30 00:01:33,040 --> 00:01:35,000 Speaker 3: it wouldn't be the good time to do a massive 31 00:01:35,040 --> 00:01:37,720 Speaker 3: deal for BP. Those stocks unchanged today. 32 00:01:37,840 --> 00:01:41,560 Speaker 4: OK. From energy to retailers H and M an update 33 00:01:41,600 --> 00:01:44,360 Speaker 4: from that clothing company that retailer today, So H and 34 00:01:44,520 --> 00:01:45,400 Speaker 4: M looking really strong. 35 00:01:45,400 --> 00:01:47,600 Speaker 3: That was one of the best performers on the market 36 00:01:47,640 --> 00:01:50,160 Speaker 3: this morning. H and M up eight percent. That's the 37 00:01:50,200 --> 00:01:54,560 Speaker 3: most since April. The Swedish fast fashion retailer reporting better 38 00:01:54,560 --> 00:01:58,600 Speaker 3: and expected second cours at earnings, analyst saying that it 39 00:01:58,720 --> 00:02:02,080 Speaker 3: was against very downbeat expectations. So H and M is 40 00:02:02,160 --> 00:02:05,680 Speaker 3: kind of seen as a stock market rival to indo Text, 41 00:02:06,040 --> 00:02:08,880 Speaker 3: the owner of Zara. Indotext has doubled in value over 42 00:02:08,880 --> 00:02:10,680 Speaker 3: the past year or so, whereas H and M has 43 00:02:10,720 --> 00:02:13,680 Speaker 3: really struggled, hasn't really gained it tool actually declined a 44 00:02:13,680 --> 00:02:17,640 Speaker 3: little bit. Now the company says they're mostly doing better 45 00:02:17,840 --> 00:02:21,000 Speaker 3: in the women's wear sales, so that's really strong in 46 00:02:21,080 --> 00:02:24,200 Speaker 3: terms of that part of the business, and also doing 47 00:02:24,240 --> 00:02:26,200 Speaker 3: a little better and a little bit better in some 48 00:02:26,280 --> 00:02:29,359 Speaker 3: of the costs, so shipping costs not as high as 49 00:02:29,360 --> 00:02:31,560 Speaker 3: they had thought they would be, so that's helping the margins. 50 00:02:32,120 --> 00:02:34,040 Speaker 3: H and M up six percent after a bit of 51 00:02:34,080 --> 00:02:35,240 Speaker 3: a bad run for that stock. 52 00:02:35,840 --> 00:02:38,120 Speaker 1: We're going to France with the next story, Joe. This 53 00:02:38,240 --> 00:02:41,960 Speaker 1: is to do with meal vouchers, which most French employers 54 00:02:42,160 --> 00:02:45,080 Speaker 1: provide to their employees as part of their employment. Essential 55 00:02:45,120 --> 00:02:47,080 Speaker 1: if you don't have a canteen, you get meal vouchers 56 00:02:47,080 --> 00:02:49,320 Speaker 1: every day. The government's shaking up this sector. What does 57 00:02:49,320 --> 00:02:50,240 Speaker 1: it mean for the provider? 58 00:02:50,400 --> 00:02:53,240 Speaker 3: Eden read Yes, it's kind of It seems to be 59 00:02:53,360 --> 00:02:56,040 Speaker 3: kind of a niche market in terms of it is 60 00:02:56,080 --> 00:02:58,320 Speaker 3: only really over in France in Europe where we have 61 00:02:58,440 --> 00:03:01,320 Speaker 3: this this market for these companies. Now, it's been a 62 00:03:01,400 --> 00:03:03,320 Speaker 3: sector that there has been a lot of talk about 63 00:03:03,440 --> 00:03:07,840 Speaker 3: regulatory change and potentially capping the fees that these voucher 64 00:03:07,880 --> 00:03:10,720 Speaker 3: merchants and people that make the merchant make the vouchers 65 00:03:10,960 --> 00:03:14,080 Speaker 3: are able to charge. Now there's a big reform just 66 00:03:14,120 --> 00:03:18,000 Speaker 3: been published. News updates on the reform from the French government, 67 00:03:18,080 --> 00:03:21,720 Speaker 3: so publication on that and it has not announced a 68 00:03:21,800 --> 00:03:23,720 Speaker 3: cap on the fees, so that is seen as a 69 00:03:23,720 --> 00:03:26,400 Speaker 3: big relief. Also, the French government's saying that they want 70 00:03:26,480 --> 00:03:29,880 Speaker 3: to make these meal vouchers more widespread and digitalize the 71 00:03:29,919 --> 00:03:32,680 Speaker 3: whole system, which is seen as a positive on the 72 00:03:32,720 --> 00:03:35,040 Speaker 3: demand signed as well. So Eden Bread one of the 73 00:03:35,040 --> 00:03:39,400 Speaker 3: best performers today up five percent. Another company, Pluxi, is 74 00:03:39,480 --> 00:03:43,040 Speaker 3: gaining as well. Those two stocks rising pretty strong over 75 00:03:43,080 --> 00:03:45,360 Speaker 3: in Paris, gaining on the market this morning. 76 00:03:45,480 --> 00:03:48,600 Speaker 4: Okay Our Markets Equities reports at Joe Easton with some 77 00:03:48,680 --> 00:03:50,960 Speaker 4: of the stocks on the move in today's session. 78 00:03:52,280 --> 00:03:56,440 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 79 00:03:56,520 --> 00:03:59,280 Speaker 2: us throughout the day for the latest roundup of companies 80 00:03:59,320 --> 00:04:02,360 Speaker 2: making news on Wall Street and for the latest market 81 00:04:02,400 --> 00:04:06,720 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 82 00:04:06,800 --> 00:04:10,040 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 83 00:04:10,120 --> 00:04:11,560 Speaker 2: the Bloomberg Business app.