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: Let's look at the stocks on the move today here
Speaker 3: in Europe. I'm Caroline Hepkit with Stephen Caroll, and we're
Speaker 3: joined by Bloomberg's Breaking News editor Louise Moon. So let's
Speaker 3: think about boomer a leap then for the ath leisure brand,
Speaker 3: the software, sorry, the shoemaking brand.
Speaker 1: What has put us spring in their step?
Speaker 4: Yes, so shares rose about twenty one percent this morning.
Speaker 4: Then they paired some of those games, but they're still up.
Speaker 4: Last time we looked about eight percent, So big games
Speaker 4: this morning after Anta, a Chinese sports shoe sportswear giant,
Speaker 4: agreed to buy in about twenty nine percent Steak and
Speaker 4: that's for one point five billion euros.
Speaker 1: The going to become its bigger shareholder. And let's say
Speaker 1: this is.
Speaker 4: A boost to Puma's management's turnaround efforts. It's not thought
Speaker 4: that Anti will change those efforts as they.
Speaker 1: Become the biggest shareholder.
Speaker 4: The offer price, or the price they did that a
Speaker 4: was a sixty two percent premium to Puma's closing price yesterday,
Speaker 4: So a good price on that front. And then for Anta,
Speaker 4: it's adding to their global expansion, their multi brand growth strategy.
Speaker 1: They already own FeelA.
Speaker 4: They're the largest shareholder of the company behind Salomon, so
Speaker 4: they're a big global giants. They actually have a really
Speaker 4: fascinating story behind them. So years ago, when I was
Speaker 4: based in Hong Kong, I went on a reporting trip
Speaker 4: to a place called Jindyang in China. It's on the
Speaker 4: south East coast and it's called China's shoe capital, and
Speaker 4: that's where ants from and that's where three of China's
Speaker 4: biggest sports where giants all stem from.
Speaker 1: So it will stem from this one place. You walk around, it's.
Speaker 4: Blocks and blocks and blocks of shoe vendors, everything you
Speaker 4: could possibly need to make shoes. And there's these three
Speaker 4: huge companies that have now become global giants all step
Speaker 4: for this place. I think two of the founders went
Speaker 4: to school together. It's a really fascinating story and all
Speaker 4: steming from this place. So anyway, so and they're the
Speaker 4: company that are going to be buying buying Puma, so
Speaker 4: shares really rising on that news.
Speaker 1: Oh, I love the shoe story behind that. We're going
Speaker 1: to stay with shoes though and talk about Doctor Martin's
Speaker 1: next what's going on there? Not such a positive story
Speaker 1: for them.
Speaker 4: Shares down over ten percent, back to levels seen in
Speaker 4: mid last year, mid twenty twenty five. That's after third
Speaker 4: quarter results, so revenue was weaker then expected, and the
Speaker 4: timing wise of this, it's meant to be kind of
Speaker 4: their peak trading season obviously over the Christmas period, so
Speaker 4: weaker then expected, and yeah, just a lot worse than
Speaker 4: than should have been thought. They said that Europe still
Speaker 4: remains a challenging region. That's their biggest region. America performed
Speaker 4: a bit better, and it all comes as they're pivoting.
Speaker 1: They're calling it the year of Pivot.
Speaker 4: It's a bit of a restructuring their strategy of trying
Speaker 4: to prioritize profitability and being disciplined when it comes to promotions.
Speaker 4: So it's a bit of a turnaround storry for Doc Martins,
Speaker 4: and their third quarter didn't perform.
Speaker 1: As well as expected.
Speaker 4: They do say they're on track to meet pretext profits
Speaker 4: for the full year, but if you compare that to
Speaker 4: the air before, it's still quite broadly flat, so not
Speaker 4: much positive news to go on there.
Speaker 3: Okay, and then lastly to Credit Agricole, they are looking
Speaker 3: stronger this morning.
Speaker 4: Why they are they' one of the top performers among
Speaker 4: banks in Europe. That's after an upgrade from ODO. They
Speaker 4: raise their recommendation from mutual to outperform. The analyst there
Speaker 4: is saying that the net income vestments that they have
Speaker 4: are higher than consensus and saying that the bank's underperformance
Speaker 4: over the past year or so has left it trading
Speaker 4: up multiples that it doesn't think reflects the quality of
Speaker 4: its fundamentals essentially. So if you look if you are
Speaker 4: to compare Credit CaAl with the wider Banks stock six
Speaker 4: hundred banks index, so it shares are up twenty six
Speaker 4: percent in the last twelve months, but the wide index
Speaker 4: is up sixty one percent, so it is underperforming there
Speaker 4: and that's what the analyst was really focusing on.
Speaker 1: In their note.
Speaker 4: And shares are rising this morning, there is about two
Speaker 4: percent on the back of this, so adding to kind
Speaker 4: of recent gains, and if you look back, the shares
Speaker 4: are now at the higher since two thousand and eight,
Speaker 4: so a bit of a boost for them today.
Speaker 1: And then just take a look at the analyst ratings.
Speaker 4: They've got eight by seven holes and five cells, so
Speaker 4: it's adding to that positive story.
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