1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,520 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:16,120 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,280 --> 00:00:17,560 Speaker 2: Let's up a look at some of the stocks on 5 00:00:17,560 --> 00:00:19,800 Speaker 2: the move today here in Europe. I'm Caroline Hipkin. I'm 6 00:00:19,880 --> 00:00:24,840 Speaker 2: joined by Bloomberg reporter Tiba Ada Biotia. Good morning. Let's 7 00:00:24,840 --> 00:00:28,400 Speaker 2: think about what is happening in the individual stocks moving 8 00:00:28,400 --> 00:00:30,960 Speaker 2: as a result of the war in Iran. An attack 9 00:00:31,040 --> 00:00:33,199 Speaker 2: over the weekend and that seems to have moved Rio 10 00:00:33,320 --> 00:00:34,360 Speaker 2: Tinto and others. 11 00:00:34,920 --> 00:00:38,800 Speaker 3: Yeah, so we're watching European mining shares more broadly after 12 00:00:38,840 --> 00:00:42,320 Speaker 3: those weekend strikes on aluminium plants that was in the 13 00:00:42,400 --> 00:00:45,639 Speaker 3: UAE and buff Rain. So it's thought that these later 14 00:00:45,800 --> 00:00:49,320 Speaker 3: strikes could send what is actually currently a very fragile 15 00:00:49,479 --> 00:00:53,639 Speaker 3: market into crisis. It raises the chances of record prices 16 00:00:53,840 --> 00:00:59,680 Speaker 3: for aluminium. We've seen aluminium rising this morning. Futures were 17 00:00:59,720 --> 00:01:02,760 Speaker 3: up the most since twenty twenty four, but in terms 18 00:01:02,840 --> 00:01:05,240 Speaker 3: of Rio Tinto, they are up as much as four 19 00:01:05,240 --> 00:01:07,760 Speaker 3: point four percent this morning. Now some of this is 20 00:01:07,840 --> 00:01:11,400 Speaker 3: tied to those strikes, but also they had an announcement 21 00:01:11,480 --> 00:01:14,600 Speaker 3: this morning that their operations at a key port in 22 00:01:14,720 --> 00:01:18,759 Speaker 3: Western Australia are due to resume soon. So this facility 23 00:01:18,840 --> 00:01:22,160 Speaker 3: had been affected by a tropical cyclone, but they're now 24 00:01:22,200 --> 00:01:26,039 Speaker 3: saying that shipping is expected to continue in the coming days. 25 00:01:26,560 --> 00:01:29,800 Speaker 3: It's a wider problem for the sector these weather events. 26 00:01:30,200 --> 00:01:34,479 Speaker 3: They're estimated to have impacted iron are shipments by eight 27 00:01:34,560 --> 00:01:39,640 Speaker 3: million tons. Another previous tropical storm in February which made 28 00:01:39,640 --> 00:01:42,000 Speaker 3: an impact as well. But the positive here for Rio 29 00:01:42,080 --> 00:01:44,399 Speaker 3: Tinto is it does look like full service will be 30 00:01:44,520 --> 00:01:48,320 Speaker 3: resumed soon, so moves there on that and also the 31 00:01:48,320 --> 00:01:52,120 Speaker 3: prospect of higher metals prices after Iran strikes. 32 00:01:52,840 --> 00:01:57,280 Speaker 2: Okay, so that's on miners. What about Sadexo also seeing 33 00:01:57,280 --> 00:01:59,040 Speaker 2: at share price up? What's driving that? 34 00:01:59,280 --> 00:02:03,120 Speaker 3: Yeah, for Sadexo this morning, they're the food services company 35 00:02:03,120 --> 00:02:08,760 Speaker 3: that offers everything from facilities management to employee benefit solutions. 36 00:02:08,880 --> 00:02:11,760 Speaker 3: They're up over four percent this morning. That's after an 37 00:02:11,840 --> 00:02:15,200 Speaker 3: upgrade from analyst at Jeffries. And the thinking here is 38 00:02:15,240 --> 00:02:19,760 Speaker 3: that Sadexo's upcoming results and also their Capital markets day 39 00:02:20,240 --> 00:02:23,880 Speaker 3: could provide a good opportunity for a reset. So that 40 00:02:23,919 --> 00:02:28,919 Speaker 3: would be a reset of investor expectations, specifically giving them 41 00:02:28,919 --> 00:02:32,720 Speaker 3: the chance to build momentum. This note says the firm 42 00:02:32,880 --> 00:02:36,840 Speaker 3: has been setting a realistic framework and also building a 43 00:02:36,919 --> 00:02:39,600 Speaker 3: track record of consistent delivery, and those two things are 44 00:02:39,639 --> 00:02:43,040 Speaker 3: going to be vital if the stock is to rerate. 45 00:02:43,360 --> 00:02:46,840 Speaker 3: Perhaps they are on track for improvement. The note also 46 00:02:46,880 --> 00:02:50,040 Speaker 3: did welcome the appointment of the firm's first ever external 47 00:02:50,160 --> 00:02:53,560 Speaker 3: CEO that happened in October. So certainly for Jeffries, this 48 00:02:53,680 --> 00:02:56,239 Speaker 3: is one to watch over the coming weeks and months, 49 00:02:56,240 --> 00:02:58,239 Speaker 3: and it does seem to be something that's caught the 50 00:02:58,240 --> 00:02:59,840 Speaker 3: attention of investors this morning. 51 00:03:00,080 --> 00:03:06,840 Speaker 2: Well, okay, and lastly the Italian bank BFF some declines 52 00:03:06,880 --> 00:03:08,360 Speaker 2: there took us through what's happening. 53 00:03:08,600 --> 00:03:12,360 Speaker 3: Yes, huge declines for BFF Bank this morning. Their stock 54 00:03:12,400 --> 00:03:15,760 Speaker 3: has some sixty one percent in Milan training that's the 55 00:03:15,840 --> 00:03:19,560 Speaker 3: most on record. After an announcement this morning where the 56 00:03:19,560 --> 00:03:24,000 Speaker 3: bank discloses that a review has identified issues in how 57 00:03:24,000 --> 00:03:27,079 Speaker 3: it classifies loans as performing. So they're saying that a 58 00:03:27,160 --> 00:03:31,240 Speaker 3: regulatory probe has found issues relating to the factoring and 59 00:03:31,360 --> 00:03:35,520 Speaker 3: lending business and to the prudential classification of credit exposure. 60 00:03:35,760 --> 00:03:38,120 Speaker 3: That's according to a statement from the bank, but it's 61 00:03:38,160 --> 00:03:42,000 Speaker 3: coming after a difficult period. This later drop will give 62 00:03:42,040 --> 00:03:44,400 Speaker 3: them a market value of less than two hundred and 63 00:03:44,400 --> 00:03:47,400 Speaker 3: fifty million euros. Now just compare that to two years 64 00:03:47,400 --> 00:03:49,720 Speaker 3: ago it was more than two billion, so a big 65 00:03:49,800 --> 00:03:53,400 Speaker 3: drop there. They suffered a stock plunge just last month 66 00:03:53,520 --> 00:03:58,160 Speaker 3: after announcing fresh provisions, lower targets and the departure of 67 00:03:58,200 --> 00:04:01,160 Speaker 3: their CEO, so they have been ruggling for a while now, 68 00:04:01,160 --> 00:04:04,720 Speaker 3: and that stock drop in February did follow the disclosure 69 00:04:04,720 --> 00:04:08,520 Speaker 3: that Milan prosecutors and other authorities had kicked off an 70 00:04:08,560 --> 00:04:11,400 Speaker 3: investigation into the bank a few years ago, and that 71 00:04:11,600 --> 00:04:18,240 Speaker 3: was over a report of serious accounting and administrative regularities. 72 00:04:18,480 --> 00:04:20,840 Speaker 3: So BFF has now said that the Bank of Italy 73 00:04:21,240 --> 00:04:25,920 Speaker 3: has appointed two commissioners to sort of oversee their operations 74 00:04:25,960 --> 00:04:29,280 Speaker 3: as they navigate this period. But no doubt more hurdles 75 00:04:29,279 --> 00:04:30,680 Speaker 3: ahead for the Italian Bank. 76 00:04:31,720 --> 00:04:35,960 Speaker 1: The Stockmover's report from Bloomberg Radio. Check back with us 77 00:04:35,960 --> 00:04:38,760 Speaker 1: throughout the day for the latest roundup of companies making 78 00:04:38,839 --> 00:04:42,440 Speaker 1: news on Wall Street and for the latest market moving headlines. 79 00:04:42,680 --> 00:04:46,680 Speaker 1: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 80 00:04:46,720 --> 00:04:49,800 Speaker 1: dot com, and on Applecarplay and Android Otto with the 81 00:04:49,839 --> 00:04:51,200 Speaker 1: Bloomberg Business app