1
00:00:02,560 --> 00:00:08,880
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, the.

2
00:00:09,039 --> 00:00:14,120
Speaker 2: Stock Movers podcast. This is your roundup of companies Mickey

3
00:00:14,160 --> 00:00:17,639
Speaker 2: News on Wall Street and beyond harnessing the power of

4
00:00:17,720 --> 00:00:18,640
Speaker 2: Bloomberg Data.

5
00:00:19,480 --> 00:00:21,279
Speaker 1: Well, let's second look at some stocks on the move

6
00:00:21,320 --> 00:00:25,120
Speaker 1: today in Europe. We're joined by Bloomberg's equities reporter Joe Easton. Joe,

7
00:00:25,160 --> 00:00:28,159
Speaker 1: good morning, Kingfisher. We'll start with them, the owner of

8
00:00:28,280 --> 00:00:30,360
Speaker 1: the DIY retailer B and Q.

9
00:00:31,080 --> 00:00:33,760
Speaker 3: Yes, a Kingfish having a really bad day. It's down

10
00:00:33,840 --> 00:00:38,600
Speaker 3: twelve percent at the moment in London, this after training update. Now, interestingly,

11
00:00:38,680 --> 00:00:41,360
Speaker 3: the weakest market for them seems to be France. The

12
00:00:41,360 --> 00:00:44,599
Speaker 3: people in France not doing enough DIY according to the

13
00:00:44,640 --> 00:00:47,760
Speaker 3: owner of being Q, So the new guidance from them

14
00:00:47,840 --> 00:00:51,600
Speaker 3: implies a downgrade to their earnings estimates of around six

15
00:00:51,640 --> 00:00:55,400
Speaker 3: percent for the full year. According to Analysten, this stock

16
00:00:55,480 --> 00:00:59,200
Speaker 3: actually had a really poor run post pandemic because we're

17
00:00:59,200 --> 00:01:00,920
Speaker 3: all stuck at home with not much better to do.

18
00:01:00,960 --> 00:01:02,640
Speaker 3: So we all did all that DIY and then that

19
00:01:02,720 --> 00:01:06,240
Speaker 3: kind of faded and that rally pete it out and

20
00:01:06,280 --> 00:01:08,640
Speaker 3: this does look like to be a continuation of that.

21
00:01:08,680 --> 00:01:11,600
Speaker 3: But now the focus not on the UK but on France,

22
00:01:11,640 --> 00:01:13,959
Speaker 3: and therefore that does seem to be the downgrade in

23
00:01:14,040 --> 00:01:15,960
Speaker 3: terms of their earnings, and that stock, as I say,

24
00:01:16,160 --> 00:01:19,119
Speaker 3: down twelve percent, the worst performer across the entire stock

25
00:01:19,160 --> 00:01:20,160
Speaker 3: six hundred this morning.

26
00:01:20,560 --> 00:01:23,240
Speaker 1: And I always enjoy that the names of the French

27
00:01:23,280 --> 00:01:26,440
Speaker 1: retail brands for Kingfisher as well cast Rama a classic

28
00:01:26,440 --> 00:01:26,959
Speaker 1: one of those as well.

29
00:01:27,200 --> 00:01:29,920
Speaker 3: Make it that much classy, doesn't it just more fun?

30
00:01:30,160 --> 00:01:33,240
Speaker 1: Rastly anyway, let's turn to Shell, next to the oil

31
00:01:33,280 --> 00:01:36,319
Speaker 1: giant looking to pump up its profit pump up, Yes,

32
00:01:36,920 --> 00:01:37,200
Speaker 1: try to.

33
00:01:37,160 --> 00:01:39,199
Speaker 3: Think where we can go that. So maybe drill drill

34
00:01:39,280 --> 00:01:43,120
Speaker 3: down into this one with Sheltz. Thank you so Shell. So,

35
00:01:43,200 --> 00:01:46,640
Speaker 3: Shell has their big trading update in terms of their

36
00:01:46,920 --> 00:01:49,880
Speaker 3: capital markets day today that they're holding in New York.

37
00:01:49,960 --> 00:01:52,720
Speaker 3: So this has been a really big focus. Everyone's been

38
00:01:52,720 --> 00:01:55,200
Speaker 3: talking about this, and Shell today saying that they're going

39
00:01:55,240 --> 00:01:59,200
Speaker 3: to boost investor returns, potentially return around half of their

40
00:01:59,240 --> 00:02:02,880
Speaker 3: free cash to shareholders in the medium term. The interesting

41
00:02:02,960 --> 00:02:06,200
Speaker 3: thing here is that it's all driven by their liquefied

42
00:02:06,320 --> 00:02:08,920
Speaker 3: natural gas business and that's really where they focus. So

43
00:02:08,960 --> 00:02:11,720
Speaker 3: a lot of the other firms have focused on renewables.

44
00:02:12,000 --> 00:02:14,800
Speaker 3: Shell was focused more on gas and actually that's where

45
00:02:15,080 --> 00:02:18,200
Speaker 3: it continues to see the higher returns and therefore they're

46
00:02:18,200 --> 00:02:21,480
Speaker 3: actually able to give more of that cash two shareholders.

47
00:02:21,480 --> 00:02:24,080
Speaker 3: So the stock is up around two percent at the moment.

48
00:02:24,120 --> 00:02:26,840
Speaker 3: There's also speculation whether they will spin off one of

49
00:02:26,880 --> 00:02:29,799
Speaker 3: their chemicals businesses, so really it looks like a pretty

50
00:02:29,840 --> 00:02:33,080
Speaker 3: steady update and continuing the out performance that we've seen

51
00:02:33,120 --> 00:02:35,440
Speaker 3: for that stock versus the old rival BP, which is

52
00:02:35,520 --> 00:02:37,680
Speaker 3: lagged a bit. So Shell up two percent at the

53
00:02:37,680 --> 00:02:38,480
Speaker 3: moment in London.

54
00:02:38,680 --> 00:02:40,760
Speaker 1: Yeah, and of course that's quite a heavyweight on the

55
00:02:40,880 --> 00:02:43,360
Speaker 1: stock index here is the second biggest weighted firm on

56
00:02:43,480 --> 00:02:45,400
Speaker 1: the forty one hundred as well, so it tends to

57
00:02:45,400 --> 00:02:47,560
Speaker 1: lift the whole index when Shell's having a good day.

58
00:02:47,600 --> 00:02:49,760
Speaker 1: So the forty one hundred up by half of one

59
00:02:49,840 --> 00:02:54,840
Speaker 1: percent this morning. Turning next to some underwhelming car sales

60
00:02:54,880 --> 00:02:58,320
Speaker 1: figures in Europe this iss as Barclays has been looking

61
00:02:58,400 --> 00:03:00,160
Speaker 1: at the region's truck maker.

62
00:03:01,120 --> 00:03:04,359
Speaker 3: Yes A new car registration in Europe down around three

63
00:03:04,360 --> 00:03:07,359
Speaker 3: percent in February from a year earlier. So it's another

64
00:03:07,639 --> 00:03:12,360
Speaker 3: week report from the AUSO Association. The overall drop driven

65
00:03:12,400 --> 00:03:16,320
Speaker 3: by twenty four percent slump in gasoline powered vehicles according

66
00:03:16,360 --> 00:03:21,640
Speaker 3: to the Auto's Association, that's European Automakers Manufacturers Association. But

67
00:03:21,720 --> 00:03:24,520
Speaker 3: as you mentioned, there's also this really interesting note from

68
00:03:24,600 --> 00:03:28,320
Speaker 3: barkleays and they are downgrading their recommendations on the makers

69
00:03:28,320 --> 00:03:32,360
Speaker 3: of European trucks. So these are Volvo Diimler truck and

70
00:03:32,560 --> 00:03:36,560
Speaker 3: also Tratton cutting their ratings no longer recommend buying these.

71
00:03:36,760 --> 00:03:40,040
Speaker 3: This is more tied to the regulations in the US

72
00:03:40,080 --> 00:03:42,800
Speaker 3: on emission, So the US is set to roll back

73
00:03:43,080 --> 00:03:46,320
Speaker 3: some of the clean emissions regulations that had on trucks,

74
00:03:46,360 --> 00:03:49,880
Speaker 3: meaning that companies that need trucks, so lorry companies and

75
00:03:49,880 --> 00:03:53,040
Speaker 3: also construction companies, they won't need to upgrade their vehicles

76
00:03:53,080 --> 00:03:56,280
Speaker 3: and therefore their sales and likely to decline according to Barkleys,

77
00:03:56,320 --> 00:03:59,240
Speaker 3: So those ones really underperforming in the market. All those

78
00:03:59,280 --> 00:04:01,920
Speaker 3: stocks down around two to three percent this morning as

79
00:04:01,960 --> 00:04:05,160
Speaker 3: Barkley's downgrade and also the added news of these week

80
00:04:05,200 --> 00:04:07,120
Speaker 3: car sales once again weigh on the sector.

81
00:04:08,560 --> 00:04:12,920
Speaker 2: The Stockmovers podcast from Bloomberg Radio. Check back with us

82
00:04:12,920 --> 00:04:15,840
Speaker 2: throughout the day for the latest roundup of companies making

83
00:04:15,920 --> 00:04:19,520
Speaker 2: news on Wall Street and for the latest market moving headlines.

84
00:04:19,640 --> 00:04:23,600
Speaker 2: Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg

85
00:04:23,640 --> 00:04:26,440
Speaker 2: dot com, and on Applecarplay and Android Auto with the

86
00:04:26,480 --> 00:04:27,839
Speaker 2: Bloomberg Business app.