1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,600 --> 00:00:19,920 Speaker 3: Let's have a look now at some of the stocks though, 5 00:00:19,960 --> 00:00:22,239 Speaker 3: that are on the move today here in Europe. I'm 6 00:00:22,280 --> 00:00:27,720 Speaker 3: Callen Hepga alongside Bimberg's equities reporter Chloe Malay. Chloe, nice 7 00:00:27,760 --> 00:00:32,960 Speaker 3: to see you. So food manufacturer green Core have seen 8 00:00:33,000 --> 00:00:34,440 Speaker 3: their share sowing today. 9 00:00:34,520 --> 00:00:38,640 Speaker 4: Why yeah, So we had a couple of companies within 10 00:00:38,680 --> 00:00:40,680 Speaker 4: the UK food sector on the move this morning. 11 00:00:40,720 --> 00:00:42,080 Speaker 1: So let's start with rin Corps. 12 00:00:42,080 --> 00:00:45,839 Speaker 4: So green Corps makes ready meal sandwiches for UK supermarkets 13 00:00:46,120 --> 00:00:49,120 Speaker 4: and this morning it boosted its profit outlook, so it 14 00:00:49,240 --> 00:00:51,479 Speaker 4: noted kind of really good volume growth and that was 15 00:00:51,560 --> 00:00:54,880 Speaker 4: kind of ahead of the wider market thanks to very 16 00:00:54,880 --> 00:00:58,840 Speaker 4: favorable summer weather, So that was one of the factors there. 17 00:00:59,360 --> 00:01:01,520 Speaker 4: It was also to kind of say a higher cost 18 00:01:01,520 --> 00:01:04,520 Speaker 4: thanks to efficiency improvements, and all of that fed into 19 00:01:04,720 --> 00:01:07,120 Speaker 4: an improved outlook that also lifted back of. 20 00:01:07,120 --> 00:01:09,440 Speaker 1: All which Green Cores in the process of buying. 21 00:01:09,760 --> 00:01:12,520 Speaker 4: And then in the same kind of sector, we also 22 00:01:12,520 --> 00:01:15,440 Speaker 4: had Compass, which is a catering company It also lifted 23 00:01:15,480 --> 00:01:18,360 Speaker 4: its organic revenue forecast this morning and made quite an 24 00:01:18,360 --> 00:01:22,400 Speaker 4: important acquisition, so it's buying Dutch cater Avermount from Bridgepoint 25 00:01:22,800 --> 00:01:25,280 Speaker 4: in a one point five billion euro deal. So that 26 00:01:25,360 --> 00:01:27,479 Speaker 4: kind of duo of good news lifted the chares as 27 00:01:27,480 --> 00:01:28,240 Speaker 4: well for Compass. 28 00:01:28,240 --> 00:01:31,360 Speaker 3: This morning interesting because we were speaking to world Panel 29 00:01:31,480 --> 00:01:35,600 Speaker 3: formerly canter Just on Bloomberg Radio today and they were 30 00:01:35,600 --> 00:01:38,680 Speaker 3: talking about grocery price inflation accelerating again in the UK. 31 00:01:38,760 --> 00:01:41,920 Speaker 3: I was quite surprised by how high it's gone, up 32 00:01:42,000 --> 00:01:44,160 Speaker 3: to five point two percent this month. So that's the 33 00:01:44,200 --> 00:01:47,840 Speaker 3: highest level since January twenty twenty four. So food price 34 00:01:47,880 --> 00:01:51,639 Speaker 3: inflation really really hot. Okay, so that's in the food 35 00:01:51,680 --> 00:01:56,240 Speaker 3: manufacturing sector. What about Axo Nobel, the Dutch chemical firm 36 00:01:56,480 --> 00:01:58,040 Speaker 3: not having a good morning to yes. 37 00:01:58,200 --> 00:02:01,360 Speaker 4: So Exo is a paint main and this morning it 38 00:02:01,480 --> 00:02:03,520 Speaker 4: cut its profit forecast for the year. 39 00:02:03,520 --> 00:02:05,520 Speaker 1: That was due to curren see headwinds. 40 00:02:05,560 --> 00:02:07,760 Speaker 4: So that's something that we've heard a lot of companies 41 00:02:08,000 --> 00:02:10,040 Speaker 4: talk about recently. They've talked about the strength of the 42 00:02:10,080 --> 00:02:12,480 Speaker 4: Swedish chronile, the strength of the euro. In this case 43 00:02:12,480 --> 00:02:14,200 Speaker 4: for Exo is the strength of the euro. So it's 44 00:02:14,280 --> 00:02:17,079 Speaker 4: up almost thirteen percent this year and that is having 45 00:02:17,160 --> 00:02:21,440 Speaker 4: an impact on the forecast. It also mentioned tariff uncertainty, 46 00:02:21,520 --> 00:02:24,120 Speaker 4: so it said that customers were hedging their bets at 47 00:02:24,120 --> 00:02:26,480 Speaker 4: the moment, and the CEO said that unless there was 48 00:02:26,520 --> 00:02:29,960 Speaker 4: clarity on tariff, Stille will continue to be cautioned in 49 00:02:30,000 --> 00:02:33,480 Speaker 4: that area. So Tariffon's serturty and currency headwinds really weighing 50 00:02:33,800 --> 00:02:37,239 Speaker 4: on Axonobile. It's also dealing with higher costs of the 51 00:02:37,320 --> 00:02:39,840 Speaker 4: chemicals that it needs to make the pains that it sells. 52 00:02:40,160 --> 00:02:43,080 Speaker 4: And then it's continued to see some weakness in some 53 00:02:43,200 --> 00:02:46,239 Speaker 4: key markets, so North America, but then also China is 54 00:02:46,280 --> 00:02:50,560 Speaker 4: still very weak, so that's really weighing on Accent this morning, 55 00:02:50,560 --> 00:02:52,680 Speaker 4: and the sheds were down by quite a bit. 56 00:02:53,360 --> 00:02:54,760 Speaker 1: So that's on that Acco no Bell. 57 00:02:55,520 --> 00:03:00,919 Speaker 3: Also European chip makers, what is weighing on them today. 58 00:03:00,760 --> 00:03:03,640 Speaker 4: Yeah, some weakness that we've seen in Infinian and st 59 00:03:03,800 --> 00:03:07,040 Speaker 4: Micro in particular. That's of the back of some disappointing 60 00:03:07,240 --> 00:03:11,800 Speaker 4: news from NXP Semiconductors, which is a Dutch semiconductor firm 61 00:03:11,800 --> 00:03:15,280 Speaker 4: but trades in the US, and it offered a third 62 00:03:15,400 --> 00:03:17,960 Speaker 4: quarter forecast that was a little bit less bullish than 63 00:03:18,080 --> 00:03:23,040 Speaker 4: investors had anticipated, and it really those results kind of 64 00:03:23,080 --> 00:03:25,480 Speaker 4: showed how tough it is for the chip makers that 65 00:03:25,520 --> 00:03:28,960 Speaker 4: in particular are exposed to the automotive sector. Obviously, in 66 00:03:29,000 --> 00:03:33,359 Speaker 4: the recent days we have had yesterday the news from 67 00:03:33,360 --> 00:03:37,560 Speaker 4: Stelantis with the two point three billion euro loss. Rena 68 00:03:37,720 --> 00:03:40,960 Speaker 4: also had its forecasts a little bit earlier in the season, 69 00:03:41,040 --> 00:03:43,720 Speaker 4: so we can see how weak the automotive industry is 70 00:03:43,760 --> 00:03:47,400 Speaker 4: and that is weighing on the stocks in the semiconductor 71 00:03:47,440 --> 00:03:51,720 Speaker 4: industry are that are exposed to that industry. The end 72 00:03:51,760 --> 00:03:54,720 Speaker 4: market of the automotive end market accounts for fifty percent 73 00:03:54,760 --> 00:03:58,120 Speaker 4: of NXP's revenue, also really sizeable part of st Micro 74 00:03:58,440 --> 00:03:59,119 Speaker 4: and Infinian. 75 00:03:59,680 --> 00:04:01,680 Speaker 1: Those you are reporting a little bit later in. 76 00:04:01,640 --> 00:04:04,160 Speaker 4: The season, so we'll see how much of that weakness 77 00:04:04,200 --> 00:04:05,640 Speaker 4: they mentioned in their own reports. 78 00:04:06,560 --> 00:04:10,720 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 79 00:04:10,800 --> 00:04:13,520 Speaker 2: us throughout the day for the latest roundup of companies 80 00:04:13,600 --> 00:04:16,640 Speaker 2: making news on Wall Street and for the latest market 81 00:04:16,680 --> 00:04:21,000 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 82 00:04:21,080 --> 00:04:24,320 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 83 00:04:24,400 --> 00:04:25,839 Speaker 2: the Bloomberg Business app.