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 00:00:17,800 --> 00:00:19,520 Speaker 3: Let's have a look at the stocks on the move 5 00:00:19,560 --> 00:00:22,360 Speaker 3: today here in Europe. I'm Caroline Hepgar with Tom McKenzie 6 00:00:22,360 --> 00:00:25,160 Speaker 3: and we're joined by Bloomberg's Equities with Ported Joe Eastern 7 00:00:25,239 --> 00:00:30,880 Speaker 3: Morning Joe. Let's start with the hospitality group Whitbread Everything Premiere. 8 00:00:31,000 --> 00:00:32,720 Speaker 3: But the share price it's seen. 9 00:00:32,600 --> 00:00:35,239 Speaker 1: Yes, full credit to Lenny Henry for that on I 10 00:00:35,240 --> 00:00:39,239 Speaker 1: think so he gets a shout out to Whipbreade So 11 00:00:39,280 --> 00:00:42,680 Speaker 1: Whipbread shares they're down two point seven percent this morning, 12 00:00:42,760 --> 00:00:45,640 Speaker 1: this after an update from the Premier in owner. 13 00:00:45,840 --> 00:00:46,200 Speaker 3: Now. 14 00:00:46,760 --> 00:00:50,080 Speaker 1: Interestingly, it is the UK that's seeing the weak markets. 15 00:00:50,080 --> 00:00:52,560 Speaker 1: The UK sales down around two percent in the latest 16 00:00:52,560 --> 00:00:55,320 Speaker 1: court to some of their other regions actually doing pretty well. 17 00:00:55,360 --> 00:00:59,360 Speaker 1: Germany had a big jump in their market revenue, so 18 00:00:59,480 --> 00:01:02,760 Speaker 1: German up around thirteen percent, but kind of the UK 19 00:01:03,680 --> 00:01:07,399 Speaker 1: woes continuing. It has been weak before, we sort of 20 00:01:07,440 --> 00:01:09,880 Speaker 1: drop down in some of their summer volumes last year 21 00:01:09,880 --> 00:01:12,880 Speaker 1: and it looks like that continues. But I think, you know, 22 00:01:12,920 --> 00:01:16,280 Speaker 1: given the weather at the moment, surely those UK staycations 23 00:01:16,280 --> 00:01:19,200 Speaker 1: are going to be popular over the next month or so, 24 00:01:19,200 --> 00:01:20,119 Speaker 1: so maybe they'll get a. 25 00:01:20,040 --> 00:01:22,000 Speaker 3: Boost coming out in London today. 26 00:01:22,200 --> 00:01:23,280 Speaker 4: Who needs Malaga? 27 00:01:23,319 --> 00:01:26,840 Speaker 1: No exactly, it's just me me. You can swapt Malaga 28 00:01:26,920 --> 00:01:30,200 Speaker 1: for Margate, you know, perfect, that works. 29 00:01:30,840 --> 00:01:34,120 Speaker 4: Joe Joe's heading to the beach this weekend. Clearly that 30 00:01:34,160 --> 00:01:36,080 Speaker 4: the pubs will be will be busy as well, won't 31 00:01:36,080 --> 00:01:37,760 Speaker 4: they a bit of a bit of a bit of 32 00:01:37,760 --> 00:01:40,679 Speaker 4: a boost there to uh to the to the whining 33 00:01:40,680 --> 00:01:42,840 Speaker 4: and dining sector. But there is a bit of a 34 00:01:42,880 --> 00:01:45,080 Speaker 4: theme because in terms of in terms of the UK 35 00:01:45,160 --> 00:01:48,720 Speaker 4: and some challenges, recruiters has always a kind of really 36 00:01:48,720 --> 00:01:51,320 Speaker 4: good gauge in terms of what's happening in the labor market. 37 00:01:51,320 --> 00:01:54,280 Speaker 4: We know that on a macro level the jobs market 38 00:01:54,320 --> 00:01:57,160 Speaker 4: here unfortunately, is starting to soften a bit. Is this 39 00:01:57,280 --> 00:01:59,520 Speaker 4: is the is the is the slump in the stock 40 00:01:59,560 --> 00:02:02,040 Speaker 4: price for for Hayes today and linked to that? Or 41 00:02:02,040 --> 00:02:02,920 Speaker 4: is there something else going on? 42 00:02:03,040 --> 00:02:06,560 Speaker 1: Yes, I really enjoy actually getting these statements because they are, 43 00:02:06,560 --> 00:02:08,639 Speaker 1: as you say, they're kind of a front runner of 44 00:02:08,680 --> 00:02:11,160 Speaker 1: what's happening in the economy. Because these companies like Hayes 45 00:02:11,240 --> 00:02:14,519 Speaker 1: Page they all see what's going on in the recruitment market, 46 00:02:14,600 --> 00:02:17,360 Speaker 1: possibly before you even get the O Andes state. So 47 00:02:17,440 --> 00:02:22,440 Speaker 1: Hayes today saying that they have seen another decline in 48 00:02:22,520 --> 00:02:25,000 Speaker 1: their conditions, so tough conditions is what they're saying in 49 00:02:25,040 --> 00:02:28,000 Speaker 1: the recruitment market, and List saying they expect to cut 50 00:02:28,000 --> 00:02:31,359 Speaker 1: their earnings estments by more than twenty percent for this 51 00:02:31,480 --> 00:02:35,600 Speaker 1: year and next given the declines in fees and also 52 00:02:36,120 --> 00:02:39,320 Speaker 1: just not as many positions being advertised. So Hayes stopped 53 00:02:39,400 --> 00:02:42,280 Speaker 1: absolutely slammed. To date it was down around fifteen percent, 54 00:02:42,320 --> 00:02:46,079 Speaker 1: it's now down thirteen percent. Seeing Page Group dropping as well, 55 00:02:46,120 --> 00:02:48,880 Speaker 1: that was down around eight percent. And also this spreading 56 00:02:48,960 --> 00:02:51,480 Speaker 1: into Europe, so a Deco was a big one, down 57 00:02:51,560 --> 00:02:54,680 Speaker 1: four percent. And also Ranstad so all the big names 58 00:02:54,720 --> 00:02:57,280 Speaker 1: that went over in Amsterdam, all the big names taking 59 00:02:57,320 --> 00:03:00,240 Speaker 1: notice of this, and really a rough day for recruitments 60 00:03:00,240 --> 00:03:00,720 Speaker 1: this morning. 61 00:03:01,400 --> 00:03:05,680 Speaker 3: Okay, So that from Hayes and last, the European watchmakers 62 00:03:05,680 --> 00:03:07,600 Speaker 3: are having a tough time. They seem to be suffering 63 00:03:07,600 --> 00:03:11,560 Speaker 3: the same fate as other kind of luxury names too. 64 00:03:11,680 --> 00:03:14,160 Speaker 3: I mean, watches were so hot for such a long time, 65 00:03:14,200 --> 00:03:14,679 Speaker 3: aren't they. 66 00:03:14,960 --> 00:03:17,120 Speaker 1: Yeah, so it's a continued theme as you say this, 67 00:03:17,360 --> 00:03:21,400 Speaker 1: So it's Swiss watch exports falling by almost ten percent 68 00:03:21,600 --> 00:03:24,799 Speaker 1: in May. Now that is led by a large dropping 69 00:03:24,880 --> 00:03:28,560 Speaker 1: shipments to the US. That's potentially some indication of the 70 00:03:28,639 --> 00:03:31,200 Speaker 1: trade war. But as you said there, Caroline, this has 71 00:03:31,240 --> 00:03:34,359 Speaker 1: been a theme in terms of people kind of getting 72 00:03:34,440 --> 00:03:38,520 Speaker 1: luxury fatigue and the aspirational buyers kind of moving away 73 00:03:38,600 --> 00:03:41,160 Speaker 1: from purchases that they maybe would have done a year 74 00:03:41,240 --> 00:03:44,160 Speaker 1: or two ago. So we're seeing Swatch declining that's done 75 00:03:44,160 --> 00:03:47,400 Speaker 1: around two percent to Dave Richemont also lower and watched 76 00:03:47,400 --> 00:03:50,360 Speaker 1: the Switzerland all of those stocks dropping this morning given 77 00:03:50,360 --> 00:03:52,920 Speaker 1: this week data. So it's continued weakness and kind of, 78 00:03:52,960 --> 00:03:56,760 Speaker 1: as I say, the aspirational luxury fatigue trade continuing hitting 79 00:03:56,760 --> 00:03:57,960 Speaker 1: watches this morning. 80 00:03:57,960 --> 00:03:59,560 Speaker 4: As you reach for your Rolex joke and I just 81 00:03:59,560 --> 00:04:01,560 Speaker 4: have this as well because the clock is ticking on 82 00:04:01,560 --> 00:04:05,280 Speaker 4: our segment here. But the SNB, the Swiss Natural Bank 83 00:04:05,280 --> 00:04:07,680 Speaker 4: cutting is stress rates to zero percent, and Caroline was 84 00:04:07,720 --> 00:04:09,840 Speaker 4: pointing out that the Swiss frank is up about eight 85 00:04:09,880 --> 00:04:12,920 Speaker 4: percent versus the US dollar, so that may be also 86 00:04:12,960 --> 00:04:15,720 Speaker 4: a factor they're cutting rates. Maybe puts a little bit 87 00:04:15,720 --> 00:04:18,080 Speaker 4: more softness on occurrency. There's a really rallied as a 88 00:04:18,080 --> 00:04:20,200 Speaker 4: safe havevorite and put pressure on those exported. It just 89 00:04:20,200 --> 00:04:21,960 Speaker 4: makes those Swiss luxury watch is more expensive. 90 00:04:22,200 --> 00:04:24,200 Speaker 3: I'm just delighted that you're trying to make me look 91 00:04:24,240 --> 00:04:25,719 Speaker 3: smart with the comment. 92 00:04:26,240 --> 00:04:29,080 Speaker 1: Delighted about the clock ticking on the watch segment as well. 93 00:04:29,160 --> 00:04:30,479 Speaker 3: I got that, Joe. 94 00:04:30,640 --> 00:04:32,800 Speaker 1: I'm just sorrt to give that, give that little credit. 95 00:04:33,839 --> 00:04:38,000 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 96 00:04:38,080 --> 00:04:40,840 Speaker 2: us throughout the day for the latest roundup of companies 97 00:04:40,880 --> 00:04:43,920 Speaker 2: making news on Wall Street and for the latest market 98 00:04:43,960 --> 00:04:48,320 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 99 00:04:48,360 --> 00:04:51,599 Speaker 2: Bloomberg dot com, and on Applecarplay and Android otto with 100 00:04:51,680 --> 00:04:53,159 Speaker 2: the Bloomberg Business app.