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 --> 00:00:16,160 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:16,280 --> 00:00:17,799 Speaker 3: Now, let's look at some of the stocks on the 5 00:00:17,840 --> 00:00:20,120 Speaker 3: move today here in Europe. I'm Caroline Hetget and I'm 6 00:00:20,160 --> 00:00:23,800 Speaker 3: joined by Bloomberg reporter Clone Malay. Good morning. So it 7 00:00:23,960 --> 00:00:29,240 Speaker 3: jump for Rieschmah shares signs of a broader luxury rebound perhaps, 8 00:00:29,280 --> 00:00:33,360 Speaker 3: But Rieschmahl did incredibly well in that festive period. 9 00:00:33,600 --> 00:00:34,440 Speaker 2: Yeah, it really did. 10 00:00:34,479 --> 00:00:36,159 Speaker 1: And I don't want to speak too soon, but it 11 00:00:36,159 --> 00:00:39,000 Speaker 1: could be a really good quarter for their luxury sector. 12 00:00:39,080 --> 00:00:41,200 Speaker 1: But at least, as you said, it's been a really 13 00:00:41,200 --> 00:00:45,080 Speaker 1: good quarter for Eschmore and reported sales. Wearehead of estimates, 14 00:00:45,159 --> 00:00:48,760 Speaker 1: and that was despite expectations being actually already really high 15 00:00:49,000 --> 00:00:52,159 Speaker 1: and the comparatives being also quite tough. And this was 16 00:00:52,240 --> 00:00:56,160 Speaker 1: thanks in particular to the popularity of Cartiage jewelry, which 17 00:00:56,200 --> 00:00:59,440 Speaker 1: is seeing a big boost at the moment from the 18 00:00:59,560 --> 00:01:03,400 Speaker 1: likes of Swift and Timothy shallow May wearing those bracelets 19 00:01:03,440 --> 00:01:06,880 Speaker 1: and watches and really boosting that popularity. And we saw 20 00:01:07,360 --> 00:01:12,200 Speaker 1: sales of Cartier really strong over that Christmas season, and 21 00:01:12,240 --> 00:01:16,080 Speaker 1: those very positive results at Richmond also drove the rest 22 00:01:16,120 --> 00:01:20,000 Speaker 1: of their luxury sector higher. This morning, we saw Burbery 23 00:01:20,080 --> 00:01:23,360 Speaker 1: moving higher LVMH as well, carrying all of those names, 24 00:01:23,560 --> 00:01:25,480 Speaker 1: because this is seen as a sign that there is 25 00:01:25,520 --> 00:01:29,080 Speaker 1: maybe a recovery happening here, and we saw already some 26 00:01:29,200 --> 00:01:32,000 Speaker 1: early signs of that at the previous earning season. If 27 00:01:32,000 --> 00:01:34,959 Speaker 1: we can remember that far back and LVMH and Caring 28 00:01:35,080 --> 00:01:38,080 Speaker 1: was saying at the time that demand was rebounding in 29 00:01:38,160 --> 00:01:41,120 Speaker 1: the US and in China, and a continuation of that 30 00:01:41,200 --> 00:01:44,119 Speaker 1: trend for this season would signore that the sector has 31 00:01:44,160 --> 00:01:47,720 Speaker 1: actually weathered the worst of that downturn. It is worth 32 00:01:47,760 --> 00:01:51,680 Speaker 1: noting that Rishmore is not necessarily representative of the entire sector. 33 00:01:51,720 --> 00:01:55,160 Speaker 1: It sells primarily jewelry, and that is often viewed as 34 00:01:55,200 --> 00:01:57,480 Speaker 1: a better kind of store of valued and leather goods, 35 00:01:57,480 --> 00:02:01,080 Speaker 1: so it has been doing better more generally. It seems 36 00:02:01,240 --> 00:02:04,360 Speaker 1: that this is still quite encouraging for reach More and 37 00:02:04,720 --> 00:02:05,680 Speaker 1: the sector as a whole. 38 00:02:06,520 --> 00:02:11,160 Speaker 3: We have to keep across the fashionistas, don't we. Chalamay 39 00:02:11,720 --> 00:02:15,560 Speaker 3: has been seen wearing a carte part the necklace, so 40 00:02:15,680 --> 00:02:18,600 Speaker 3: that's the kind of hot thing and also of course 41 00:02:18,600 --> 00:02:20,520 Speaker 3: he won at the Golden Globes. So I just want 42 00:02:20,600 --> 00:02:25,120 Speaker 3: to in case you're not across, I'm sure you are. 43 00:02:25,560 --> 00:02:27,760 Speaker 3: I think I was more addressing that maybe to listeners 44 00:02:27,760 --> 00:02:33,800 Speaker 3: out there. Anyway, tech significantly for ASML, and this perhaps 45 00:02:33,919 --> 00:02:36,600 Speaker 3: powered by TSMC. What's behind the gains? 46 00:02:36,680 --> 00:02:39,160 Speaker 1: Yeah, ASML gained a lot this morning, and the market 47 00:02:39,280 --> 00:02:42,519 Speaker 1: value reached more than five hundred billion dollars, and that's 48 00:02:42,520 --> 00:02:46,359 Speaker 1: all thanks to the very upbeat outlook from TSMC. As 49 00:02:46,360 --> 00:02:49,160 Speaker 1: you mentioned, so, TSMC is of course a bell weather 50 00:02:49,280 --> 00:02:53,480 Speaker 1: for the semiconductor industry and therefore this artificial intelligence boom, 51 00:02:53,560 --> 00:02:57,400 Speaker 1: and it reported better than expected profit and earmarked more 52 00:02:57,440 --> 00:03:00,760 Speaker 1: than expected as well in capital spending for twenty six, 53 00:03:00,800 --> 00:03:04,240 Speaker 1: So that signals really strong AI demand going into this 54 00:03:04,360 --> 00:03:08,120 Speaker 1: year and also shows that TSMC is very confident that 55 00:03:08,160 --> 00:03:11,120 Speaker 1: the AI boom will continue in twenty twenty six, and 56 00:03:11,160 --> 00:03:14,120 Speaker 1: that is despite those concerns that are still relevant around 57 00:03:14,120 --> 00:03:19,120 Speaker 1: the sustainability of spending on data centers. And these results 58 00:03:19,120 --> 00:03:22,600 Speaker 1: have led as chip makers and chip making equipment stocks 59 00:03:22,840 --> 00:03:26,200 Speaker 1: much higher this morning in Europe, and in particular, ASML 60 00:03:26,320 --> 00:03:29,959 Speaker 1: is doing well because it is a big supplier to TSMC, 61 00:03:30,080 --> 00:03:32,120 Speaker 1: so it's been a very good day to day for 62 00:03:32,160 --> 00:03:33,680 Speaker 1: that tech sector in Europe for sure. 63 00:03:33,919 --> 00:03:36,720 Speaker 3: Yeah, maybe clean sweep. Then this morning a Sweat Bank 64 00:03:37,000 --> 00:03:41,680 Speaker 3: investors also thinking about this lender and we're seeing gains. 65 00:03:41,720 --> 00:03:41,960 Speaker 2: Why. 66 00:03:42,160 --> 00:03:44,800 Speaker 1: Yeah, So the US Department of Justice closed a money 67 00:03:44,840 --> 00:03:48,360 Speaker 1: laundering investigation into Sweat Bank and they didn't take any 68 00:03:48,600 --> 00:03:53,280 Speaker 1: enforcement action. So this investigation had to do with Sweatbank's 69 00:03:53,400 --> 00:03:57,560 Speaker 1: handling of anti money laundering controls in its Baltic operations. 70 00:03:57,600 --> 00:04:01,080 Speaker 1: And this decision from the DJ brings a seven year 71 00:04:01,120 --> 00:04:03,840 Speaker 1: probe to closer to an end. And it's a really 72 00:04:03,840 --> 00:04:07,360 Speaker 1: positive outcome for Sweatbank, of course, because it's now facing 73 00:04:07,440 --> 00:04:11,080 Speaker 1: no penalties and that might mean more excess capital that 74 00:04:11,160 --> 00:04:13,360 Speaker 1: it can return to shareholders, and of course we know 75 00:04:13,560 --> 00:04:16,279 Speaker 1: how much investors like getting their shareholder returns, and that 76 00:04:16,360 --> 00:04:19,719 Speaker 1: explains why the stock moves so strongly today, all the 77 00:04:19,720 --> 00:04:23,960 Speaker 1: way to record high. Actually, there is another investigation ongoing 78 00:04:24,000 --> 00:04:27,360 Speaker 1: from the New York Department of Financial Services, and so 79 00:04:27,720 --> 00:04:30,240 Speaker 1: Sweat Bank might choose to kind of hold back on 80 00:04:30,279 --> 00:04:34,200 Speaker 1: that capital distribution until that is done. But regardless, this 81 00:04:34,240 --> 00:04:36,719 Speaker 1: is a definite positive for the bank and allows it 82 00:04:36,760 --> 00:04:38,799 Speaker 1: to kind of move on from this long. 83 00:04:38,680 --> 00:04:44,039 Speaker 2: Pro the Stock Movers report from Bloomberg Radio. Check back 84 00:04:44,040 --> 00:04:46,279 Speaker 2: with us throughout the day for the latest roundup of 85 00:04:46,360 --> 00:04:49,640 Speaker 2: companies making news on Wall Street and for the latest 86 00:04:49,680 --> 00:04:53,880 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 87 00:04:53,880 --> 00:04:57,640 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 88 00:04:57,640 --> 00:04:59,680 Speaker 2: Auto with the Bloomberg Business app.