1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg data. 4 00:00:16,400 --> 00:00:18,400 Speaker 3: So let's take a look at sam stocks on the 5 00:00:18,400 --> 00:00:21,000 Speaker 3: mod today in Europe. I'm Jacksoners with Stephen Carroll. We 6 00:00:21,160 --> 00:00:24,279 Speaker 3: are joined by Bloomberg's Breaking news editor Louise Moon. Morning, 7 00:00:24,320 --> 00:00:28,160 Speaker 3: Louise wh Smith finding out if you say the words 8 00:00:28,280 --> 00:00:30,320 Speaker 3: Leo Quinn, you will share price grows up. 9 00:00:30,720 --> 00:00:34,200 Speaker 1: Indeed, yes, So they've named a new chairman, Leo Quinn. 10 00:00:34,240 --> 00:00:36,680 Speaker 1: That's from April. As you say, shares have been rallying 11 00:00:36,720 --> 00:00:38,120 Speaker 1: this morning on the back of that. Last time I 12 00:00:38,159 --> 00:00:42,400 Speaker 1: checked up over about nine percent. So Leo Quinn was 13 00:00:42,640 --> 00:00:45,640 Speaker 1: most recently CEO of Balfour Beatti, the construction firm in 14 00:00:45,680 --> 00:00:48,120 Speaker 1: the UK. And the reason that shares are really rallying 15 00:00:48,120 --> 00:00:51,040 Speaker 1: on his name on this new appointment is the woes 16 00:00:51,080 --> 00:00:53,479 Speaker 1: that wh Smith have been through since about August. They 17 00:00:54,400 --> 00:00:57,240 Speaker 1: announced a accounting eraor in their North American unit that 18 00:00:57,320 --> 00:01:00,440 Speaker 1: triggered a stock slump. Also their CEO to resign and 19 00:01:00,440 --> 00:01:04,120 Speaker 1: they're currently being investivated by the financial watchdog. So in 20 00:01:04,120 --> 00:01:07,200 Speaker 1: the release, the company noted his history of what they 21 00:01:07,240 --> 00:01:11,039 Speaker 1: call significant business transformation, so he's obviously the expectation there 22 00:01:11,120 --> 00:01:14,560 Speaker 1: is to return wh Smith to stability and deliver on 23 00:01:14,920 --> 00:01:17,840 Speaker 1: their growth strategy, their longer term growth strategy. So as 24 00:01:17,840 --> 00:01:19,280 Speaker 1: I say, shares arising on the back of that, they 25 00:01:19,280 --> 00:01:21,800 Speaker 1: were leading the thirty two fifty, but if you do 26 00:01:22,040 --> 00:01:24,280 Speaker 1: look back at a more kind of historical level, they're 27 00:01:24,360 --> 00:01:27,319 Speaker 1: still way off their level prior to that stock stump 28 00:01:27,760 --> 00:01:29,560 Speaker 1: from August, so there's a long way to go. So 29 00:01:29,560 --> 00:01:31,800 Speaker 1: they'll be counting on leo Quin to deliver that. 30 00:01:32,200 --> 00:01:35,800 Speaker 2: Okay, So that's w H. Smith turning them to Workspace 31 00:01:35,880 --> 00:01:36,240 Speaker 2: as well. 32 00:01:36,360 --> 00:01:38,520 Speaker 3: Another CEO change. 33 00:01:38,240 --> 00:01:42,520 Speaker 1: Yes, so Workspace obviously the flexible workspace landlord. They have 34 00:01:42,560 --> 00:01:45,440 Speaker 1: a new CEO, so their outgoing CEO, Lawrence Hutchings, he 35 00:01:45,520 --> 00:01:48,480 Speaker 1: had just over a year in the role, so somewhat 36 00:01:48,480 --> 00:01:52,040 Speaker 1: of a surprise announcement this morning given that time period, 37 00:01:52,120 --> 00:01:55,280 Speaker 1: but it comes after a very turbulent period for Workspace. 38 00:01:55,600 --> 00:01:57,280 Speaker 1: Their shares if you look back over the past year 39 00:01:57,400 --> 00:02:00,320 Speaker 1: or so, they've been very rocky down about ten over 40 00:02:00,320 --> 00:02:04,640 Speaker 1: the past year, and that's their second straight drop on 41 00:02:04,680 --> 00:02:07,480 Speaker 1: an annual basis. So they've got a new CEO Charlie Green. 42 00:02:07,520 --> 00:02:09,880 Speaker 1: He's called he's for the founder of a company that's 43 00:02:09,919 --> 00:02:13,560 Speaker 1: now known as Fora, which obviously also the Flexible Workspace Group. 44 00:02:13,880 --> 00:02:18,120 Speaker 1: It also follows a new CFO just before Christmas. And 45 00:02:18,200 --> 00:02:20,760 Speaker 1: this is all coming in the context of Workspace warning 46 00:02:20,840 --> 00:02:25,000 Speaker 1: last year of rising vacancies that would dent profits. Comes 47 00:02:25,000 --> 00:02:26,800 Speaker 1: on the back of a lot of smaller businesses struggling 48 00:02:26,840 --> 00:02:29,919 Speaker 1: with the wider kind of economic situation. They've been facing 49 00:02:29,960 --> 00:02:33,560 Speaker 1: calls from Access investor Saba Capital to wind down the company. 50 00:02:34,080 --> 00:02:35,840 Speaker 1: So these changes are being seen as a bit of 51 00:02:35,840 --> 00:02:37,840 Speaker 1: a signal that the board isn't prepared to do that, 52 00:02:38,720 --> 00:02:40,959 Speaker 1: and it's a bit more of an operational reset with 53 00:02:41,360 --> 00:02:44,280 Speaker 1: these new appointments, particularly with Green. This morning and blue 54 00:02:44,320 --> 00:02:48,040 Speaker 1: Og Intelligence had a note saying that this full cell 55 00:02:48,240 --> 00:02:51,000 Speaker 1: is kind of unlikely to achieve or if it were 56 00:02:51,320 --> 00:02:53,440 Speaker 1: to happen, would be unlikely to achieve good prices with 57 00:02:53,600 --> 00:02:56,720 Speaker 1: risk desjoy the value of company. So yeah, being seen 58 00:02:56,760 --> 00:02:59,840 Speaker 1: as a bit of a reset there for Workspace. 59 00:03:00,120 --> 00:03:03,520 Speaker 3: And BMW one of many automakers this morning wishing then 60 00:03:03,680 --> 00:03:05,480 Speaker 3: that they had never heard the word tariff. 61 00:03:05,800 --> 00:03:09,160 Speaker 1: Indeed, yeah, the big news obviously today as you have 62 00:03:09,320 --> 00:03:12,600 Speaker 1: been speaking about of Trump's threat to hike tariffs, isn't 63 00:03:12,600 --> 00:03:15,400 Speaker 1: it if a deal isn't reached over Greenland really hitting 64 00:03:15,680 --> 00:03:19,560 Speaker 1: automakers across Europe. Essentially the plan is to all the 65 00:03:19,600 --> 00:03:22,880 Speaker 1: plan would be to add additional duties of ten percent 66 00:03:22,960 --> 00:03:26,679 Speaker 1: on imports, and this is really hitting You see BMW 67 00:03:26,720 --> 00:03:30,079 Speaker 1: down about seven percent, Mercedes Volkswagen, a lot of these 68 00:03:30,120 --> 00:03:32,720 Speaker 1: German manufacturers that really rely on the US as a 69 00:03:32,720 --> 00:03:36,560 Speaker 1: big source of sales of profits and they're already under 70 00:03:36,680 --> 00:03:40,320 Speaker 1: massive pressure that they've got tariffs already of fifteen percent. 71 00:03:40,520 --> 00:03:43,400 Speaker 1: On top of that, there's slumping sales in China, you know, 72 00:03:43,720 --> 00:03:46,640 Speaker 1: slow the expected transition to electric vehicles. They're facing a 73 00:03:46,640 --> 00:03:49,560 Speaker 1: lot of headwinds and this, if it came through, would be, 74 00:03:49,640 --> 00:03:52,800 Speaker 1: you know, the latest headwinds. So there was an interesting 75 00:03:53,320 --> 00:03:58,840 Speaker 1: statistic from BI predicting that these latest tariffs, if they 76 00:03:58,840 --> 00:04:01,320 Speaker 1: were to come through, would hit German, UK and Swedish 77 00:04:01,320 --> 00:04:04,760 Speaker 1: carmakers their underlying earnings by about three billion euros on 78 00:04:04,800 --> 00:04:06,920 Speaker 1: an annualized basis, So it would be a big hit 79 00:04:07,000 --> 00:04:09,240 Speaker 1: to them. And we're seeing this across the board. So 80 00:04:09,360 --> 00:04:12,080 Speaker 1: Silantis also falling in Milan, as the martin In the UK, 81 00:04:12,160 --> 00:04:15,880 Speaker 1: TATO mootism, and biosurreal global impact on MACFA. 82 00:04:16,600 --> 00:04:20,640 Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with 83 00:04:20,720 --> 00:04:23,280 Speaker 2: us throughout the day for the latest roundup of companies 84 00:04:23,360 --> 00:04:26,480 Speaker 2: making news on Wall Street and for the latest market 85 00:04:26,480 --> 00:04:30,960 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 86 00:04:31,040 --> 00:04:34,560 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 87 00:04:34,640 --> 00:04:36,119 Speaker 2: the Bloomberg Business app.