1 00:00:02,560 --> 00:00:08,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, the. 2 00:00:09,000 --> 00:00:14,120 Speaker 2: Stock Movers podcast. This is your roundup of companies Mickey 3 00:00:14,120 --> 00:00:17,640 Speaker 2: News on Wall Street and beyond harnessing the power of 4 00:00:17,680 --> 00:00:18,600 Speaker 2: Bloomberg Data. 5 00:00:19,400 --> 00:00:20,960 Speaker 1: Now, let's take a look at some stocks on the 6 00:00:21,000 --> 00:00:23,680 Speaker 1: move today in Europe. We're joined by Bloomberg's equity supporter 7 00:00:23,880 --> 00:00:26,599 Speaker 1: Joe Eastern. Joe, good morning, and we're starting with the 8 00:00:26,640 --> 00:00:31,000 Speaker 1: French food services giants Sadeksu, dropping the motions twenty eighteen 9 00:00:31,080 --> 00:00:32,559 Speaker 1: after cutting revenue guidance. 10 00:00:33,200 --> 00:00:37,280 Speaker 3: Yeah. Absolutely so. It is the catering sector in focus. 11 00:00:37,400 --> 00:00:40,560 Speaker 3: Today's Sadexo, as you say, sliding that stock currently down 12 00:00:40,680 --> 00:00:44,720 Speaker 3: fifteen percent over in Paris. The company warning of a 13 00:00:44,800 --> 00:00:49,559 Speaker 3: drop off in some contracts across North America. Specifically, they 14 00:00:49,600 --> 00:00:54,360 Speaker 3: say the education and healthcare sectors are where they're seeing weakness. Now, 15 00:00:54,600 --> 00:00:58,200 Speaker 3: it's interesting to me because yesterday we did see an 16 00:00:58,200 --> 00:01:02,200 Speaker 3: analyst over at XAMP Powerabus sighting their own data saying 17 00:01:02,240 --> 00:01:04,600 Speaker 3: that they've seen exactly that, and they downgraded one of 18 00:01:04,640 --> 00:01:07,480 Speaker 3: the other big firms, Compass, and this sector hit for 19 00:01:07,560 --> 00:01:11,240 Speaker 3: a second day now. It has been pretty rough couple 20 00:01:11,240 --> 00:01:14,399 Speaker 3: of days for those stocks. Compasses down another two percent 21 00:01:14,440 --> 00:01:18,600 Speaker 3: after a five percent decline yesterday SSP, which is the 22 00:01:18,680 --> 00:01:21,840 Speaker 3: company that makes the upper crusts that we all love 23 00:01:21,880 --> 00:01:24,080 Speaker 3: to grab when we're at the train station, that one 24 00:01:24,120 --> 00:01:27,280 Speaker 3: is down two percent. That's really a wide reaching impact 25 00:01:27,400 --> 00:01:28,880 Speaker 3: on the catering sector this morning. 26 00:01:29,319 --> 00:01:31,959 Speaker 1: And look, European defense stocks continue to make headlines. 27 00:01:31,959 --> 00:01:34,520 Speaker 2: We have one about to join the Footy one hundred. 28 00:01:34,520 --> 00:01:35,360 Speaker 2: What's going on there? 29 00:01:35,959 --> 00:01:38,760 Speaker 3: Yes, this was really interesting because it's in line with 30 00:01:38,920 --> 00:01:41,640 Speaker 3: the theme of the of the year today. Really of course, 31 00:01:41,680 --> 00:01:44,319 Speaker 3: as you mentioned, their valerie with the defence stocks all 32 00:01:44,319 --> 00:01:47,560 Speaker 3: doing really well. So Babcock, it's the UK at firm. 33 00:01:47,880 --> 00:01:51,880 Speaker 3: It has risen fifty percent this year. It makes warships, 34 00:01:51,920 --> 00:01:54,640 Speaker 3: so it's got a big contract with the UK Navy 35 00:01:54,680 --> 00:01:57,960 Speaker 3: to make five warships, contract worth around one point five 36 00:01:58,040 --> 00:02:01,000 Speaker 3: billion pounds and since the outbreak of the war in 37 00:02:01,120 --> 00:02:04,760 Speaker 3: Ukraine they've been paid by the UK to maintain vehicles 38 00:02:04,760 --> 00:02:06,880 Speaker 3: that Britain has sent to Ukraine to help in the 39 00:02:06,880 --> 00:02:09,399 Speaker 3: fight against Russia. So that stock has done really well 40 00:02:09,400 --> 00:02:12,200 Speaker 3: and it will join the Foots one hundred on Monday 41 00:02:12,560 --> 00:02:16,040 Speaker 3: after Hargreed's Landsdown comes out. Because they've been taken over 42 00:02:16,400 --> 00:02:18,639 Speaker 3: by a group of private equity companies, but really it's 43 00:02:18,720 --> 00:02:22,480 Speaker 3: kind of a really good indicator of how well defense 44 00:02:22,639 --> 00:02:25,680 Speaker 3: in general has done this year. And the foots one hundred, 45 00:02:25,680 --> 00:02:29,600 Speaker 3: therefore getting another defense stock called Babcock. 46 00:02:29,840 --> 00:02:34,320 Speaker 1: And time for one more Joe news on Swiss watch exports, 47 00:02:34,400 --> 00:02:36,080 Speaker 1: driving sector lower as well. 48 00:02:36,160 --> 00:02:39,680 Speaker 3: Ticking the sector lower, I might go if we're going 49 00:02:39,680 --> 00:02:44,240 Speaker 3: to continue the puns there, So look watch stocks down, 50 00:02:44,360 --> 00:02:48,680 Speaker 3: so Rechmont, which is the maker of Cartier watches, Swatched 51 00:02:48,720 --> 00:02:51,040 Speaker 3: down as well. Those stocks both down around four percent 52 00:02:51,360 --> 00:02:55,760 Speaker 3: this morning. Elvimh which owns tag who that one's down 53 00:02:55,800 --> 00:02:58,040 Speaker 3: two percent, and Watch the Switzerland, the big retail down 54 00:02:58,080 --> 00:03:03,160 Speaker 3: three percent. Swiss data showing that Switzerland supported are exported 55 00:03:03,280 --> 00:03:07,520 Speaker 3: excuse me, eight percent fewer watches in February than it 56 00:03:07,560 --> 00:03:11,600 Speaker 3: did a year ago. That is actually Switzerland's third largest 57 00:03:11,720 --> 00:03:14,480 Speaker 3: export watches, really showing how big they are, and that 58 00:03:14,520 --> 00:03:17,560 Speaker 3: apparently the only ones doing well are the cheaper watches, 59 00:03:17,600 --> 00:03:19,640 Speaker 3: the ones that are worth less than about two hundred quid, 60 00:03:19,680 --> 00:03:22,919 Speaker 3: so much more my kind of area than the roll exits. 61 00:03:23,040 --> 00:03:25,160 Speaker 3: Those are the only ones we're seeing growth, So high 62 00:03:25,280 --> 00:03:28,760 Speaker 3: end watches not doing it all well according to this data. 63 00:03:28,919 --> 00:03:31,680 Speaker 3: Continuing a long run trend or at least over the 64 00:03:31,680 --> 00:03:34,160 Speaker 3: past year or so, we've seen with these watch export 65 00:03:34,240 --> 00:03:37,600 Speaker 3: numbers coming down and therefore weakness across that sector this 66 00:03:37,760 --> 00:03:38,960 Speaker 3: morning in European trading. 67 00:03:39,040 --> 00:03:41,160 Speaker 1: Yeah, I mean, it's interesting that because of the three 68 00:03:41,200 --> 00:03:44,520 Speaker 1: price brackets that we've been given by these export numbers. 69 00:03:44,520 --> 00:03:46,920 Speaker 1: So as you say, the ones below two hundred Swiss 70 00:03:46,920 --> 00:03:50,320 Speaker 1: francs showing a positive result, those mid market ones are 71 00:03:50,320 --> 00:03:53,000 Speaker 1: between five hundred and three thousand Swis franks fell by 72 00:03:53,080 --> 00:03:56,360 Speaker 1: fifteen percent, and there was above three thousand francs felled 73 00:03:56,360 --> 00:03:58,200 Speaker 1: by seven point three percent. I feel that there's an economic 74 00:03:58,240 --> 00:04:03,000 Speaker 1: theory re illustrating here through one prices DL income gross. Indeed, 75 00:04:03,600 --> 00:04:07,080 Speaker 1: somebody put that in the Joe Eastern oraculd supporter. Thank 76 00:04:07,120 --> 00:04:08,760 Speaker 1: you very much for joining. 77 00:04:08,520 --> 00:04:14,200 Speaker 2: Us the Stock Movers podcast from Bloomberg Radio. Check back 78 00:04:14,240 --> 00:04:16,640 Speaker 2: with us throughout the day for the latest roundup of 79 00:04:16,680 --> 00:04:19,880 Speaker 2: companies making news on Wall Street and for the latest 80 00:04:19,920 --> 00:04:24,080 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 81 00:04:24,120 --> 00:04:27,480 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 82 00:04:27,480 --> 00:04:29,520 Speaker 2: Auto with the Bloomberg Business app.