WEBVTT - BP Gain, Imperial Brands Down, Intertek Up

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

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<v Speaker 2>The Stock Movers Report, 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 3>Now, let's take a look at some stocks on the

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<v Speaker 3>move today in Europe. I'm Stephen Carroll and I'm joined

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<v Speaker 3>by Bloomberg's Breaking News editor Louise Moon. Now, Louise, we're

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<v Speaker 3>going to start with the energy sector and BP.

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<v Speaker 1>Yeah, WELLBB had an update this morning on their first quarter,

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<v Speaker 1>saying the oil trading has been exceptional, in their words, exceptional,

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<v Speaker 1>so they're essentially benefiting from the one Iran war jolting

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<v Speaker 1>the energy markets. Obviously, prices have surged and BP has

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<v Speaker 1>essentially signaled that its traders have profited from that, and

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<v Speaker 1>this kind of echoes a similar sentiment from Shell last

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<v Speaker 1>week they also signaled the same. So it's been a

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<v Speaker 1>strong first quarter four pp in particular for oil trading

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<v Speaker 1>for them. This comes at quite a significant time. So

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<v Speaker 1>this is their first update since their new CEO, Meg

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<v Speaker 1>O'Neill joined. She's on a mission, as BP has been,

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<v Speaker 1>on this long standing mission to return it to its

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<v Speaker 1>core of oil and gas, divest in clean energy assets

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<v Speaker 1>that the kind of low returning assets and make it

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<v Speaker 1>a more lean organization, all under pressure from activists, investor

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<v Speaker 1>Elliott and other shareholders after years of underperformance. So it's

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<v Speaker 1>quite significant timing and a positive first update from her

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<v Speaker 1>on the back of the conflict. Shares however, are down

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<v Speaker 1>this morning. There. Investors are focusing on oil prices. They're

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<v Speaker 1>tracking the fallen oil obviously on the news that US

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<v Speaker 1>and Iran are weighing more talks and Shell is the same.

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<v Speaker 1>So oil prices and energy majors actually falling on that

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<v Speaker 1>news despite that, in BP's words, exceptional first quarter.

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<v Speaker 3>Okay, yeah, interesting to layer some of the individual company

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<v Speaker 3>news against the broader energy market moves as well, Alouise,

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<v Speaker 3>but we're going to try. Next to the tobacco company,

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<v Speaker 3>Imperial Brands, their shares doing sharply in London this morning.

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<v Speaker 1>They are yeah, over six percent, as much as six

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<v Speaker 1>point four percent this morning, saying they're expecting to lose

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<v Speaker 1>market share. Obviously, this kind of comes on the back

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<v Speaker 1>of these wider trends changing consumer habits for tobacco companies

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<v Speaker 1>that they've been grappling with that for a while now.

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<v Speaker 1>But one thing I kind of really want to focus

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<v Speaker 1>on for Imperial is that their mention of the Middle

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<v Speaker 1>East warps. They say that there's been no material impact

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<v Speaker 1>operations so far, but they are flagging that the rest

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<v Speaker 1>of the year is quite uncertain, and this is being

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<v Speaker 1>seen in quite a few company updates. It's kind of

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<v Speaker 1>starting to feed through that uncertainty and the lack of

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<v Speaker 1>predictability for the companies. So we've had Page Group, the

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<v Speaker 1>recruiter in London saying similar this morning as well, very

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<v Speaker 1>similar wording. Shares also down, and then you're also seeing it,

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<v Speaker 1>you know, feeding through across industries. So you've had LVMH

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<v Speaker 1>that they're saying that they're so has been disappointing as

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<v Speaker 1>the conflict is wearing on demand shares also down. So

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<v Speaker 1>it's just interesting to see how this is becoming obviously

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<v Speaker 1>a key topic for companies across a broad range of

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<v Speaker 1>fields and playing out in different ways. As I say,

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<v Speaker 1>you know, oil tracking in other directions, but yeah, playing

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<v Speaker 1>through in company updates the morning. So Imperial Brands, Page Group,

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<v Speaker 1>Elvia make sure some of those examples.

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<v Speaker 3>And next to a company we don't hear from very often, Intertech,

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<v Speaker 3>which are a products safety tester. They're the best performing

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<v Speaker 3>share in the stock six hundred this morning.

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<v Speaker 1>Why they are, Yeah, shares off as much a fourteen percent,

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<v Speaker 1>the most since twenty twenty. Essentially, what they've done this

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<v Speaker 1>morning is they've initiated a strategic review, so they might

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<v Speaker 1>potentially separate their business into so one half being testing

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<v Speaker 1>an assurance and one half being energy and infrastructure. So

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<v Speaker 1>they're going to review this and that will all be concluded,

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<v Speaker 1>wrapped up and implemented if it is by mid twenty

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<v Speaker 1>twenty seven. It's being welcomed by analysts as a potential positive.

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<v Speaker 1>You know, some are saying that they could trade at

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<v Speaker 1>a higher rate as separate businesses could be easier for

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<v Speaker 1>them to for the overall group to allocate capital for growth,

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<v Speaker 1>you know, could unlock value by creating two more simple assets,

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<v Speaker 1>a more attractive on a standalone basis. So is being

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<v Speaker 1>welcomed that that potential move to separate the business. Intertech's

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<v Speaker 1>been lagging way behind peers for the part in terms

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<v Speaker 1>of share price for the past year or so. So Yeah,

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<v Speaker 1>being welcomed by the market and shares shares up as

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<v Speaker 1>much as fourteen percent.

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