WEBVTT - Richemont Rises, ASML Soars, Swedbank Up 

0:00:02.520 --> 0:00:08.720
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

0:00:08.720 --> 0:00:12.560
<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

0:00:12.600 --> 0:00:16.160
<v Speaker 2>the stock market, harnessing the power of Bloomberg data.

0:00:16.280 --> 0:00:17.799
<v Speaker 3>Now, let's look at some of the stocks on the

0:00:17.840 --> 0:00:20.120
<v Speaker 3>move today here in Europe. I'm Caroline Hetget and I'm

0:00:20.160 --> 0:00:23.800
<v Speaker 3>joined by Bloomberg reporter Clone Malay. Good morning. So it

0:00:23.960 --> 0:00:29.240
<v Speaker 3>jump for Rieschmah shares signs of a broader luxury rebound perhaps,

0:00:29.280 --> 0:00:33.360
<v Speaker 3>But Rieschmahl did incredibly well in that festive period.

0:00:33.600 --> 0:00:34.440
<v Speaker 2>Yeah, it really did.

0:00:34.479 --> 0:00:36.159
<v Speaker 1>And I don't want to speak too soon, but it

0:00:36.159 --> 0:00:39.000
<v Speaker 1>could be a really good quarter for their luxury sector.

0:00:39.080 --> 0:00:41.200
<v Speaker 1>But at least, as you said, it's been a really

0:00:41.200 --> 0:00:45.080
<v Speaker 1>good quarter for Eschmore and reported sales. Wearehead of estimates,

0:00:45.159 --> 0:00:48.760
<v Speaker 1>and that was despite expectations being actually already really high

0:00:49.000 --> 0:00:52.159
<v Speaker 1>and the comparatives being also quite tough. And this was

0:00:52.240 --> 0:00:56.160
<v Speaker 1>thanks in particular to the popularity of Cartiage jewelry, which

0:00:56.200 --> 0:00:59.440
<v Speaker 1>is seeing a big boost at the moment from the

0:00:59.560 --> 0:01:03.400
<v Speaker 1>likes of Swift and Timothy shallow May wearing those bracelets

0:01:03.440 --> 0:01:06.880
<v Speaker 1>and watches and really boosting that popularity. And we saw

0:01:07.360 --> 0:01:12.200
<v Speaker 1>sales of Cartier really strong over that Christmas season, and

0:01:12.240 --> 0:01:16.080
<v Speaker 1>those very positive results at Richmond also drove the rest

0:01:16.120 --> 0:01:20.000
<v Speaker 1>of their luxury sector higher. This morning, we saw Burbery

0:01:20.080 --> 0:01:23.360
<v Speaker 1>moving higher LVMH as well, carrying all of those names,

0:01:23.560 --> 0:01:25.480
<v Speaker 1>because this is seen as a sign that there is

0:01:25.520 --> 0:01:29.080
<v Speaker 1>maybe a recovery happening here, and we saw already some

0:01:29.200 --> 0:01:32.000
<v Speaker 1>early signs of that at the previous earning season. If

0:01:32.000 --> 0:01:34.959
<v Speaker 1>we can remember that far back and LVMH and Caring

0:01:35.080 --> 0:01:38.080
<v Speaker 1>was saying at the time that demand was rebounding in

0:01:38.160 --> 0:01:41.120
<v Speaker 1>the US and in China, and a continuation of that

0:01:41.200 --> 0:01:44.119
<v Speaker 1>trend for this season would signore that the sector has

0:01:44.160 --> 0:01:47.720
<v Speaker 1>actually weathered the worst of that downturn. It is worth

0:01:47.760 --> 0:01:51.680
<v Speaker 1>noting that Rishmore is not necessarily representative of the entire sector.

0:01:51.720 --> 0:01:55.160
<v Speaker 1>It sells primarily jewelry, and that is often viewed as

0:01:55.200 --> 0:01:57.480
<v Speaker 1>a better kind of store of valued and leather goods,

0:01:57.480 --> 0:02:01.080
<v Speaker 1>so it has been doing better more generally. It seems

0:02:01.240 --> 0:02:04.360
<v Speaker 1>that this is still quite encouraging for reach More and

0:02:04.720 --> 0:02:05.680
<v Speaker 1>the sector as a whole.

0:02:06.520 --> 0:02:11.160
<v Speaker 3>We have to keep across the fashionistas, don't we. Chalamay

0:02:11.720 --> 0:02:15.560
<v Speaker 3>has been seen wearing a carte part the necklace, so

0:02:15.680 --> 0:02:18.600
<v Speaker 3>that's the kind of hot thing and also of course

0:02:18.600 --> 0:02:20.520
<v Speaker 3>he won at the Golden Globes. So I just want

0:02:20.600 --> 0:02:25.120
<v Speaker 3>to in case you're not across, I'm sure you are.

0:02:25.560 --> 0:02:27.760
<v Speaker 3>I think I was more addressing that maybe to listeners

0:02:27.760 --> 0:02:33.800
<v Speaker 3>out there. Anyway, tech significantly for ASML, and this perhaps

0:02:33.919 --> 0:02:36.600
<v Speaker 3>powered by TSMC. What's behind the gains?

0:02:36.680 --> 0:02:39.160
<v Speaker 1>Yeah, ASML gained a lot this morning, and the market

0:02:39.280 --> 0:02:42.519
<v Speaker 1>value reached more than five hundred billion dollars, and that's

0:02:42.520 --> 0:02:46.359
<v Speaker 1>all thanks to the very upbeat outlook from TSMC. As

0:02:46.360 --> 0:02:49.160
<v Speaker 1>you mentioned, so, TSMC is of course a bell weather

0:02:49.280 --> 0:02:53.480
<v Speaker 1>for the semiconductor industry and therefore this artificial intelligence boom,

0:02:53.560 --> 0:02:57.400
<v Speaker 1>and it reported better than expected profit and earmarked more

0:02:57.440 --> 0:03:00.760
<v Speaker 1>than expected as well in capital spending for twenty six,

0:03:00.800 --> 0:03:04.240
<v Speaker 1>So that signals really strong AI demand going into this

0:03:04.360 --> 0:03:08.120
<v Speaker 1>year and also shows that TSMC is very confident that

0:03:08.160 --> 0:03:11.120
<v Speaker 1>the AI boom will continue in twenty twenty six, and

0:03:11.160 --> 0:03:14.120
<v Speaker 1>that is despite those concerns that are still relevant around

0:03:14.120 --> 0:03:19.120
<v Speaker 1>the sustainability of spending on data centers. And these results

0:03:19.120 --> 0:03:22.600
<v Speaker 1>have led as chip makers and chip making equipment stocks

0:03:22.840 --> 0:03:26.200
<v Speaker 1>much higher this morning in Europe, and in particular, ASML

0:03:26.320 --> 0:03:29.959
<v Speaker 1>is doing well because it is a big supplier to TSMC,

0:03:30.080 --> 0:03:32.120
<v Speaker 1>so it's been a very good day to day for

0:03:32.160 --> 0:03:33.680
<v Speaker 1>that tech sector in Europe for sure.

0:03:33.919 --> 0:03:36.720
<v Speaker 3>Yeah, maybe clean sweep. Then this morning a Sweat Bank

0:03:37.000 --> 0:03:41.680
<v Speaker 3>investors also thinking about this lender and we're seeing gains.

0:03:41.720 --> 0:03:41.960
<v Speaker 2>Why.

0:03:42.160 --> 0:03:44.800
<v Speaker 1>Yeah, So the US Department of Justice closed a money

0:03:44.840 --> 0:03:48.360
<v Speaker 1>laundering investigation into Sweat Bank and they didn't take any

0:03:48.600 --> 0:03:53.280
<v Speaker 1>enforcement action. So this investigation had to do with Sweatbank's

0:03:53.400 --> 0:03:57.560
<v Speaker 1>handling of anti money laundering controls in its Baltic operations.

0:03:57.600 --> 0:04:01.080
<v Speaker 1>And this decision from the DJ brings a seven year

0:04:01.120 --> 0:04:03.840
<v Speaker 1>probe to closer to an end. And it's a really

0:04:03.840 --> 0:04:07.360
<v Speaker 1>positive outcome for Sweatbank, of course, because it's now facing

0:04:07.440 --> 0:04:11.080
<v Speaker 1>no penalties and that might mean more excess capital that

0:04:11.160 --> 0:04:13.360
<v Speaker 1>it can return to shareholders, and of course we know

0:04:13.560 --> 0:04:16.279
<v Speaker 1>how much investors like getting their shareholder returns, and that

0:04:16.360 --> 0:04:19.719
<v Speaker 1>explains why the stock moves so strongly today, all the

0:04:19.720 --> 0:04:23.960
<v Speaker 1>way to record high. Actually, there is another investigation ongoing

0:04:24.000 --> 0:04:27.360
<v Speaker 1>from the New York Department of Financial Services, and so

0:04:27.720 --> 0:04:30.240
<v Speaker 1>Sweat Bank might choose to kind of hold back on

0:04:30.279 --> 0:04:34.200
<v Speaker 1>that capital distribution until that is done. But regardless, this

0:04:34.240 --> 0:04:36.719
<v Speaker 1>is a definite positive for the bank and allows it

0:04:36.760 --> 0:04:38.799
<v Speaker 1>to kind of move on from this long.

0:04:38.680 --> 0:04:44.039
<v Speaker 2>Pro the Stock Movers report from Bloomberg Radio. Check back

0:04:44.040 --> 0:04:46.279
<v Speaker 2>with us throughout the day for the latest roundup of

0:04:46.360 --> 0:04:49.640
<v Speaker 2>companies making news on Wall Street and for the latest

0:04:49.680 --> 0:04:53.880
<v Speaker 2>market moving headlines. Listen to Bloomberg Radio Live, catch us

0:04:53.880 --> 0:04:57.640
<v Speaker 2>on YouTube, Bloomberg dot com, and on Applecarplay and Android

0:04:57.640 --> 0:04:59.680
<v Speaker 2>Auto with the Bloomberg Business app.