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 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:18,280 Speaker 3: Let's look at the stocks on the move today here 5 00:00:18,320 --> 00:00:21,120 Speaker 3: in Europe. I'm Caroline Hepkit with Stephen Caroll, and we're 6 00:00:21,160 --> 00:00:25,000 Speaker 3: joined by Bloomberg's Breaking News editor Louise Moon. So let's 7 00:00:25,000 --> 00:00:30,400 Speaker 3: think about boomer a leap then for the ath leisure brand, 8 00:00:30,480 --> 00:00:33,240 Speaker 3: the software, sorry, the shoemaking brand. 9 00:00:33,360 --> 00:00:35,240 Speaker 1: What has put us spring in their step? 10 00:00:35,720 --> 00:00:38,400 Speaker 4: Yes, so shares rose about twenty one percent this morning. 11 00:00:38,479 --> 00:00:40,280 Speaker 4: Then they paired some of those games, but they're still up. 12 00:00:40,320 --> 00:00:42,080 Speaker 4: Last time we looked about eight percent, So big games 13 00:00:42,120 --> 00:00:47,160 Speaker 4: this morning after Anta, a Chinese sports shoe sportswear giant, 14 00:00:47,200 --> 00:00:49,559 Speaker 4: agreed to buy in about twenty nine percent Steak and 15 00:00:49,600 --> 00:00:51,960 Speaker 4: that's for one point five billion euros. 16 00:00:52,000 --> 00:00:54,880 Speaker 1: The going to become its bigger shareholder. And let's say 17 00:00:54,960 --> 00:00:55,319 Speaker 1: this is. 18 00:00:55,280 --> 00:00:59,520 Speaker 4: A boost to Puma's management's turnaround efforts. It's not thought 19 00:00:59,600 --> 00:01:03,120 Speaker 4: that Anti will change those efforts as they. 20 00:01:03,120 --> 00:01:04,200 Speaker 1: Become the biggest shareholder. 21 00:01:04,600 --> 00:01:07,280 Speaker 4: The offer price, or the price they did that a 22 00:01:07,520 --> 00:01:10,600 Speaker 4: was a sixty two percent premium to Puma's closing price yesterday, 23 00:01:10,640 --> 00:01:14,760 Speaker 4: So a good price on that front. And then for Anta, 24 00:01:14,880 --> 00:01:20,480 Speaker 4: it's adding to their global expansion, their multi brand growth strategy. 25 00:01:20,520 --> 00:01:21,559 Speaker 1: They already own FeelA. 26 00:01:21,600 --> 00:01:25,080 Speaker 4: They're the largest shareholder of the company behind Salomon, so 27 00:01:25,160 --> 00:01:28,400 Speaker 4: they're a big global giants. They actually have a really 28 00:01:28,400 --> 00:01:32,080 Speaker 4: fascinating story behind them. So years ago, when I was 29 00:01:32,120 --> 00:01:33,880 Speaker 4: based in Hong Kong, I went on a reporting trip 30 00:01:33,920 --> 00:01:36,399 Speaker 4: to a place called Jindyang in China. It's on the 31 00:01:36,400 --> 00:01:40,119 Speaker 4: south East coast and it's called China's shoe capital, and 32 00:01:40,440 --> 00:01:43,920 Speaker 4: that's where ants from and that's where three of China's 33 00:01:43,920 --> 00:01:46,640 Speaker 4: biggest sports where giants all stem from. 34 00:01:46,760 --> 00:01:49,880 Speaker 1: So it will stem from this one place. You walk around, it's. 35 00:01:49,720 --> 00:01:52,080 Speaker 4: Blocks and blocks and blocks of shoe vendors, everything you 36 00:01:52,120 --> 00:01:54,840 Speaker 4: could possibly need to make shoes. And there's these three 37 00:01:54,920 --> 00:01:57,160 Speaker 4: huge companies that have now become global giants all step 38 00:01:57,160 --> 00:01:58,880 Speaker 4: for this place. I think two of the founders went 39 00:01:58,920 --> 00:02:01,840 Speaker 4: to school together. It's a really fascinating story and all 40 00:02:01,880 --> 00:02:04,200 Speaker 4: steming from this place. So anyway, so and they're the 41 00:02:04,200 --> 00:02:06,360 Speaker 4: company that are going to be buying buying Puma, so 42 00:02:06,560 --> 00:02:08,400 Speaker 4: shares really rising on that news. 43 00:02:08,680 --> 00:02:10,400 Speaker 1: Oh, I love the shoe story behind that. We're going 44 00:02:10,440 --> 00:02:12,440 Speaker 1: to stay with shoes though and talk about Doctor Martin's 45 00:02:12,480 --> 00:02:15,120 Speaker 1: next what's going on there? Not such a positive story 46 00:02:15,120 --> 00:02:15,440 Speaker 1: for them. 47 00:02:15,520 --> 00:02:18,800 Speaker 4: Shares down over ten percent, back to levels seen in 48 00:02:19,120 --> 00:02:22,040 Speaker 4: mid last year, mid twenty twenty five. That's after third 49 00:02:22,080 --> 00:02:26,720 Speaker 4: quarter results, so revenue was weaker then expected, and the 50 00:02:26,760 --> 00:02:28,400 Speaker 4: timing wise of this, it's meant to be kind of 51 00:02:28,400 --> 00:02:31,400 Speaker 4: their peak trading season obviously over the Christmas period, so 52 00:02:31,720 --> 00:02:36,520 Speaker 4: weaker then expected, and yeah, just a lot worse than 53 00:02:36,520 --> 00:02:38,679 Speaker 4: than should have been thought. They said that Europe still 54 00:02:38,720 --> 00:02:42,040 Speaker 4: remains a challenging region. That's their biggest region. America performed 55 00:02:42,080 --> 00:02:46,520 Speaker 4: a bit better, and it all comes as they're pivoting. 56 00:02:46,560 --> 00:02:47,680 Speaker 1: They're calling it the year of Pivot. 57 00:02:47,720 --> 00:02:50,440 Speaker 4: It's a bit of a restructuring their strategy of trying 58 00:02:50,440 --> 00:02:54,079 Speaker 4: to prioritize profitability and being disciplined when it comes to promotions. 59 00:02:54,960 --> 00:02:58,079 Speaker 4: So it's a bit of a turnaround storry for Doc Martins, 60 00:02:58,480 --> 00:03:00,239 Speaker 4: and their third quarter didn't perform. 61 00:03:00,400 --> 00:03:01,320 Speaker 1: As well as expected. 62 00:03:01,360 --> 00:03:04,560 Speaker 4: They do say they're on track to meet pretext profits 63 00:03:04,600 --> 00:03:06,480 Speaker 4: for the full year, but if you compare that to 64 00:03:06,480 --> 00:03:09,200 Speaker 4: the air before, it's still quite broadly flat, so not 65 00:03:09,480 --> 00:03:11,080 Speaker 4: much positive news to go on there. 66 00:03:11,200 --> 00:03:17,520 Speaker 3: Okay, and then lastly to Credit Agricole, they are looking 67 00:03:17,960 --> 00:03:19,040 Speaker 3: stronger this morning. 68 00:03:19,240 --> 00:03:22,040 Speaker 4: Why they are they' one of the top performers among 69 00:03:22,120 --> 00:03:26,160 Speaker 4: banks in Europe. That's after an upgrade from ODO. They 70 00:03:26,240 --> 00:03:30,720 Speaker 4: raise their recommendation from mutual to outperform. The analyst there 71 00:03:30,800 --> 00:03:33,240 Speaker 4: is saying that the net income vestments that they have 72 00:03:33,280 --> 00:03:38,040 Speaker 4: are higher than consensus and saying that the bank's underperformance 73 00:03:38,720 --> 00:03:40,760 Speaker 4: over the past year or so has left it trading 74 00:03:40,800 --> 00:03:43,640 Speaker 4: up multiples that it doesn't think reflects the quality of 75 00:03:43,680 --> 00:03:47,320 Speaker 4: its fundamentals essentially. So if you look if you are 76 00:03:47,360 --> 00:03:50,600 Speaker 4: to compare Credit CaAl with the wider Banks stock six 77 00:03:50,720 --> 00:03:53,160 Speaker 4: hundred banks index, so it shares are up twenty six 78 00:03:53,200 --> 00:03:55,720 Speaker 4: percent in the last twelve months, but the wide index 79 00:03:55,760 --> 00:03:58,560 Speaker 4: is up sixty one percent, so it is underperforming there 80 00:03:58,560 --> 00:04:00,680 Speaker 4: and that's what the analyst was really focusing on. 81 00:04:00,960 --> 00:04:01,680 Speaker 1: In their note. 82 00:04:02,320 --> 00:04:04,800 Speaker 4: And shares are rising this morning, there is about two 83 00:04:04,840 --> 00:04:06,960 Speaker 4: percent on the back of this, so adding to kind 84 00:04:06,960 --> 00:04:10,240 Speaker 4: of recent gains, and if you look back, the shares 85 00:04:10,600 --> 00:04:13,640 Speaker 4: are now at the higher since two thousand and eight, 86 00:04:14,640 --> 00:04:17,520 Speaker 4: so a bit of a boost for them today. 87 00:04:17,560 --> 00:04:19,640 Speaker 1: And then just take a look at the analyst ratings. 88 00:04:19,640 --> 00:04:21,600 Speaker 4: They've got eight by seven holes and five cells, so 89 00:04:21,640 --> 00:04:24,239 Speaker 4: it's adding to that positive story. 90 00:04:25,440 --> 00:04:29,480 Speaker 2: The Stock Movers report from Bloomberg Radio. 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