WEBVTT - Shell Up, H&M Gains, Edenred Rises

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<v Speaker 1>Bloomberg Audio Studios podcasts, radio news.

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<v Speaker 2>The Stock Movers podcast, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's take a look at some stocks on the move

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<v Speaker 1>today in Europe. I'm Stephen Kahra with Tom McKenzie, and

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<v Speaker 1>we're joined by Bloomberg's equities reporter Joe Easton. Joe, good morning.

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<v Speaker 1>Let's start with the latest in the saga, that is

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<v Speaker 1>the back and forth Steen Energy giants, Shell and BP

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<v Speaker 1>talk us through what's happening on markets this morning.

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<v Speaker 2>Yeah, so it's just.

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<v Speaker 3>A complete back and forward, as you say this. So

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<v Speaker 3>last night we had loads of excitement because there was

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<v Speaker 3>a report in the Wall Street Journal saying that Shell

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<v Speaker 3>was potentially looking at doing a bid for BP. Something's

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<v Speaker 3>been speculated on over the past few months. So there's

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<v Speaker 3>big movements in the ads the US stocks for those companies.

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<v Speaker 3>But then today, and actually shortly after that statement, Shell

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<v Speaker 3>coming out and saying that they are not actively considering

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<v Speaker 3>making office. This is an RNs today. They also did

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<v Speaker 3>a short update last night as well, but very much

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<v Speaker 3>stronger in their wording today, saying this is not going

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<v Speaker 3>to go ahead. So at the moment, BP shares are

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<v Speaker 3>pretty much bang on where they closed yesterday and Shell

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<v Speaker 3>only up zero point two percent, so basically we haven't

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<v Speaker 3>seen any action. It was all in the ADR, so

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<v Speaker 3>lots of movement, lots of incitement. The general take from

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<v Speaker 3>analysts is that this would be too much for a

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<v Speaker 3>risk for Shell, given they've had a big strategy change recently,

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<v Speaker 3>refocusing on a lot of their fossil fuel business, and

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<v Speaker 3>it wouldn't be the good time to do a massive

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<v Speaker 3>deal for BP. Those stocks unchanged today.

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<v Speaker 4>OK. From energy to retailers H and M an update

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<v Speaker 4>from that clothing company that retailer today, So H and

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<v Speaker 4>M looking really strong.

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<v Speaker 3>That was one of the best performers on the market

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<v Speaker 3>this morning. H and M up eight percent. That's the

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<v Speaker 3>most since April. The Swedish fast fashion retailer reporting better

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<v Speaker 3>and expected second cours at earnings, analyst saying that it

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<v Speaker 3>was against very downbeat expectations. So H and M is

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<v Speaker 3>kind of seen as a stock market rival to indo Text,

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<v Speaker 3>the owner of Zara. Indotext has doubled in value over

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<v Speaker 3>the past year or so, whereas H and M has

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<v Speaker 3>really struggled, hasn't really gained it tool actually declined a

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<v Speaker 3>little bit. Now the company says they're mostly doing better

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<v Speaker 3>in the women's wear sales, so that's really strong in

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<v Speaker 3>terms of that part of the business, and also doing

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<v Speaker 3>a little better and a little bit better in some

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<v Speaker 3>of the costs, so shipping costs not as high as

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<v Speaker 3>they had thought they would be, so that's helping the margins.

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<v Speaker 3>H and M up six percent after a bit of

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<v Speaker 3>a bad run for that stock.

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<v Speaker 1>We're going to France with the next story, Joe. This

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<v Speaker 1>is to do with meal vouchers, which most French employers

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<v Speaker 1>provide to their employees as part of their employment. Essential

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<v Speaker 1>if you don't have a canteen, you get meal vouchers

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<v Speaker 1>every day. The government's shaking up this sector. What does

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<v Speaker 1>it mean for the provider?

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<v Speaker 3>Eden read Yes, it's kind of It seems to be

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<v Speaker 3>kind of a niche market in terms of it is

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<v Speaker 3>only really over in France in Europe where we have

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<v Speaker 3>this this market for these companies. Now, it's been a

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<v Speaker 3>sector that there has been a lot of talk about

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<v Speaker 3>regulatory change and potentially capping the fees that these voucher

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<v Speaker 3>merchants and people that make the merchant make the vouchers

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<v Speaker 3>are able to charge. Now there's a big reform just

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<v Speaker 3>been published. News updates on the reform from the French government,

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<v Speaker 3>so publication on that and it has not announced a

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<v Speaker 3>cap on the fees, so that is seen as a

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<v Speaker 3>big relief. Also, the French government's saying that they want

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<v Speaker 3>to make these meal vouchers more widespread and digitalize the

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<v Speaker 3>whole system, which is seen as a positive on the

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<v Speaker 3>demand signed as well. So Eden Bread one of the

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<v Speaker 3>best performers today up five percent. Another company, Pluxi, is

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<v Speaker 3>gaining as well. Those two stocks rising pretty strong over

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<v Speaker 3>in Paris, gaining on the market this morning.

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<v Speaker 4>Okay Our Markets Equities reports at Joe Easton with some

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<v Speaker 4>of the stocks on the move in today's session.

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<v Speaker 2>The Stock Movers podcast from Bloomberg Radio. Check back with

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