Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg data.
Speaker 3: Now, let's look at some of the stocks on the
Speaker 3: move today here in Europe. I'm Caroline Hetget and I'm
Speaker 3: joined by Bloomberg reporter Clone Malay. Good morning. So it
Speaker 3: jump for Rieschmah shares signs of a broader luxury rebound perhaps,
Speaker 3: But Rieschmahl did incredibly well in that festive period.
Speaker 2: Yeah, it really did.
Speaker 1: And I don't want to speak too soon, but it
Speaker 1: could be a really good quarter for their luxury sector.
Speaker 1: But at least, as you said, it's been a really
Speaker 1: good quarter for Eschmore and reported sales. Wearehead of estimates,
Speaker 1: and that was despite expectations being actually already really high
Speaker 1: and the comparatives being also quite tough. And this was
Speaker 1: thanks in particular to the popularity of Cartiage jewelry, which
Speaker 1: is seeing a big boost at the moment from the
Speaker 1: likes of Swift and Timothy shallow May wearing those bracelets
Speaker 1: and watches and really boosting that popularity. And we saw
Speaker 1: sales of Cartier really strong over that Christmas season, and
Speaker 1: those very positive results at Richmond also drove the rest
Speaker 1: of their luxury sector higher. This morning, we saw Burbery
Speaker 1: moving higher LVMH as well, carrying all of those names,
Speaker 1: because this is seen as a sign that there is
Speaker 1: maybe a recovery happening here, and we saw already some
Speaker 1: early signs of that at the previous earning season. If
Speaker 1: we can remember that far back and LVMH and Caring
Speaker 1: was saying at the time that demand was rebounding in
Speaker 1: the US and in China, and a continuation of that
Speaker 1: trend for this season would signore that the sector has
Speaker 1: actually weathered the worst of that downturn. It is worth
Speaker 1: noting that Rishmore is not necessarily representative of the entire sector.
Speaker 1: It sells primarily jewelry, and that is often viewed as
Speaker 1: a better kind of store of valued and leather goods,
Speaker 1: so it has been doing better more generally. It seems
Speaker 1: that this is still quite encouraging for reach More and
Speaker 1: the sector as a whole.
Speaker 3: We have to keep across the fashionistas, don't we. Chalamay
Speaker 3: has been seen wearing a carte part the necklace, so
Speaker 3: that's the kind of hot thing and also of course
Speaker 3: he won at the Golden Globes. So I just want
Speaker 3: to in case you're not across, I'm sure you are.
Speaker 3: I think I was more addressing that maybe to listeners
Speaker 3: out there. Anyway, tech significantly for ASML, and this perhaps
Speaker 3: powered by TSMC. What's behind the gains?
Speaker 1: Yeah, ASML gained a lot this morning, and the market
Speaker 1: value reached more than five hundred billion dollars, and that's
Speaker 1: all thanks to the very upbeat outlook from TSMC. As
Speaker 1: you mentioned, so, TSMC is of course a bell weather
Speaker 1: for the semiconductor industry and therefore this artificial intelligence boom,
Speaker 1: and it reported better than expected profit and earmarked more
Speaker 1: than expected as well in capital spending for twenty six,
Speaker 1: So that signals really strong AI demand going into this
Speaker 1: year and also shows that TSMC is very confident that
Speaker 1: the AI boom will continue in twenty twenty six, and
Speaker 1: that is despite those concerns that are still relevant around
Speaker 1: the sustainability of spending on data centers. And these results
Speaker 1: have led as chip makers and chip making equipment stocks
Speaker 1: much higher this morning in Europe, and in particular, ASML
Speaker 1: is doing well because it is a big supplier to TSMC,
Speaker 1: so it's been a very good day to day for
Speaker 1: that tech sector in Europe for sure.
Speaker 3: Yeah, maybe clean sweep. Then this morning a Sweat Bank
Speaker 3: investors also thinking about this lender and we're seeing gains.
Speaker 2: Why.
Speaker 1: Yeah, So the US Department of Justice closed a money
Speaker 1: laundering investigation into Sweat Bank and they didn't take any
Speaker 1: enforcement action. So this investigation had to do with Sweatbank's
Speaker 1: handling of anti money laundering controls in its Baltic operations.
Speaker 1: And this decision from the DJ brings a seven year
Speaker 1: probe to closer to an end. And it's a really
Speaker 1: positive outcome for Sweatbank, of course, because it's now facing
Speaker 1: no penalties and that might mean more excess capital that
Speaker 1: it can return to shareholders, and of course we know
Speaker 1: how much investors like getting their shareholder returns, and that
Speaker 1: explains why the stock moves so strongly today, all the
Speaker 1: way to record high. Actually, there is another investigation ongoing
Speaker 1: from the New York Department of Financial Services, and so
Speaker 1: Sweat Bank might choose to kind of hold back on
Speaker 1: that capital distribution until that is done. But regardless, this
Speaker 1: is a definite positive for the bank and allows it
Speaker 1: to kind of move on from this long.
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