1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:18,200 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:18,200 --> 00:00:20,959 Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:20,960 --> 00:00:24,520 Speaker 3: by Bloomberg reporter Chloe Mela Chloate. Good morning. Let's start 7 00:00:24,520 --> 00:00:27,840 Speaker 3: with SSE, the energy company in the UK. Shares are storing. 8 00:00:27,880 --> 00:00:28,440 Speaker 3: What's going on? 9 00:00:28,960 --> 00:00:31,120 Speaker 1: Yeah, SHARRE has jumped quite a lot this morning, actually 10 00:00:31,160 --> 00:00:34,320 Speaker 1: hit a record. That is after SC announced that it 11 00:00:34,360 --> 00:00:37,800 Speaker 1: will raise two billion pounds from investors. So this equity 12 00:00:37,880 --> 00:00:40,840 Speaker 1: raise will be used to fund major projects in grid 13 00:00:40,880 --> 00:00:45,159 Speaker 1: infrastructure and renewable energy projects like wind farms for example. 14 00:00:45,240 --> 00:00:49,239 Speaker 1: So SC will spend thirty three billion pounds overall on 15 00:00:49,280 --> 00:00:53,200 Speaker 1: those projects, with eighty percent of that going towards upgrading 16 00:00:53,280 --> 00:00:56,600 Speaker 1: the UK power grids. Journ the list said that investors 17 00:00:56,640 --> 00:00:59,760 Speaker 1: are welcoming the clarity that this provides over the next 18 00:00:59,800 --> 00:01:03,280 Speaker 1: few years for SSE. It gives visibility on the balance sheet, 19 00:01:03,320 --> 00:01:06,560 Speaker 1: gives visibility on the growth outlook as well for the company. 20 00:01:06,760 --> 00:01:09,319 Speaker 1: So this is seen as very positive and also a 21 00:01:09,360 --> 00:01:11,880 Speaker 1: way for that company to be part of the push 22 00:01:11,959 --> 00:01:16,039 Speaker 1: rwars electrification and the expansion of AIA data centers. So 23 00:01:16,640 --> 00:01:20,160 Speaker 1: now the question becomes of what is holding the shares 24 00:01:20,319 --> 00:01:24,720 Speaker 1: back from here, given that SEC has actually underperformed that 25 00:01:24,800 --> 00:01:27,720 Speaker 1: broader sector. But that might change on the back of 26 00:01:27,760 --> 00:01:28,920 Speaker 1: this equity raise. 27 00:01:29,680 --> 00:01:32,240 Speaker 3: Yeah, indeed the shares up nine point two percent and 28 00:01:32,360 --> 00:01:35,120 Speaker 3: NOND at the moment. Let's stay with energy companies. RWE 29 00:01:35,480 --> 00:01:37,040 Speaker 3: also on the rise. What's going on there? 30 00:01:37,319 --> 00:01:40,480 Speaker 1: Yeah, good morning for energy companies overall, it seems so 31 00:01:40,560 --> 00:01:43,000 Speaker 1: for r W the boost there is actually coming from 32 00:01:43,000 --> 00:01:46,120 Speaker 1: better than expected earning. So part of that was because 33 00:01:46,160 --> 00:01:48,480 Speaker 1: of a one off gain from the cell of a 34 00:01:48,560 --> 00:01:52,400 Speaker 1: data center development project in the UK, but then more interestingly, 35 00:01:52,400 --> 00:01:56,600 Speaker 1: the other factor there was a better performance in its 36 00:01:56,680 --> 00:02:00,320 Speaker 1: trading divisions. That's a division that's really struggled this year 37 00:02:00,360 --> 00:02:03,840 Speaker 1: because of geopolitical uncertainty, or at least the flavor of 38 00:02:03,840 --> 00:02:06,720 Speaker 1: geopolitical uncertainty that we have got at the moment, because 39 00:02:07,160 --> 00:02:10,840 Speaker 1: traders actually did really well after Russia's invasion of Ukraine. 40 00:02:10,919 --> 00:02:13,760 Speaker 1: But the kind of uncertainty that we have got now 41 00:02:13,800 --> 00:02:16,720 Speaker 1: with with Terrists and everything, that has actually proven much 42 00:02:16,760 --> 00:02:20,560 Speaker 1: harder to trade on for those traders, and so that 43 00:02:20,639 --> 00:02:24,440 Speaker 1: has really that has really hurt that division. The nine 44 00:02:24,440 --> 00:02:27,320 Speaker 1: month trading figure is still the worst in nearly a decade, 45 00:02:27,360 --> 00:02:30,160 Speaker 1: but it is taken quite well this morning because there 46 00:02:30,240 --> 00:02:33,000 Speaker 1: was improvement over the third quarter. So it seems that 47 00:02:33,000 --> 00:02:35,320 Speaker 1: that division is now back on track, back on the 48 00:02:35,360 --> 00:02:39,360 Speaker 1: road to recovery and our we will also benefit from 49 00:02:39,440 --> 00:02:44,000 Speaker 1: other divisions like the commissioning of on new onshore wind farms, 50 00:02:44,360 --> 00:02:47,040 Speaker 1: solar plants as well, and then battery storage system. So 51 00:02:47,200 --> 00:02:48,960 Speaker 1: there's optimism there for that company. 52 00:02:49,800 --> 00:02:52,600 Speaker 3: Okay, so from energy stocks, let's go to France next 53 00:02:52,600 --> 00:02:56,480 Speaker 3: and eden Rad shares down nine percent, an unpleasant surprise 54 00:02:56,639 --> 00:02:59,119 Speaker 3: coming for the company. Yeah, absolutely. 55 00:02:59,200 --> 00:03:01,680 Speaker 1: So that is a that is a provider of employee 56 00:03:01,680 --> 00:03:04,640 Speaker 1: benefits like meal vouchers, and it has been dealing with 57 00:03:04,680 --> 00:03:08,040 Speaker 1: some regulatory hurdles in the past a few years. So 58 00:03:08,639 --> 00:03:10,960 Speaker 1: the reason why it's down this morning is because Brazil 59 00:03:11,400 --> 00:03:14,799 Speaker 1: is planning a major regulatory changes to the country's mill 60 00:03:14,919 --> 00:03:18,119 Speaker 1: vouchers system. So in ninety days a cap of three 61 00:03:18,160 --> 00:03:21,760 Speaker 1: point six percent will be applying to the merchant discount way, 62 00:03:21,800 --> 00:03:24,720 Speaker 1: which is the fee that is charged to merchants per transaction, 63 00:03:25,520 --> 00:03:29,120 Speaker 1: and eden Redd said that it is really surprised by 64 00:03:29,160 --> 00:03:32,200 Speaker 1: this by this decree by Brazil and that it was 65 00:03:32,240 --> 00:03:35,120 Speaker 1: significantly different from the discussions that it had had with 66 00:03:35,360 --> 00:03:39,840 Speaker 1: the country. Bloomberg Intelligence analysts are calculating that that means 67 00:03:39,880 --> 00:03:42,680 Speaker 1: the eber dark could drop as much as sixteen percent 68 00:03:42,880 --> 00:03:45,400 Speaker 1: for eden Red on the back of those regulatory changes 69 00:03:45,400 --> 00:03:48,440 Speaker 1: in Brazil, which is quite an important market for the company, 70 00:03:48,600 --> 00:03:51,320 Speaker 1: and that really explains that major weakness that we've seen 71 00:03:51,640 --> 00:03:53,560 Speaker 1: in the stock. At least one good thing is that 72 00:03:53,600 --> 00:03:56,680 Speaker 1: there is now a bit more regulatory clarity, but obviously 73 00:03:56,760 --> 00:03:57,880 Speaker 1: it's not good news. 74 00:03:58,760 --> 00:04:02,800 Speaker 2: The stock Mover's report from Bloomberg Radio. Check back with 75 00:04:02,880 --> 00:04:05,440 Speaker 2: us throughout the day for the latest roundup of companies 76 00:04:05,520 --> 00:04:08,640 Speaker 2: making news on Wall Street and for the latest market 77 00:04:08,640 --> 00:04:13,120 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 78 00:04:13,200 --> 00:04:16,719 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 79 00:04:16,800 --> 00:04:18,240 Speaker 2: the Bloomberg Business app.