1 00:00:02,520 --> 00:00:07,440 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 --> 00:00:18,119 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:18,120 --> 00:00:20,799 Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:20,800 --> 00:00:24,479 Speaker 3: by Bloomberg's Breaking News editor Louise Moon. Well, let's start, 7 00:00:24,520 --> 00:00:29,120 Speaker 3: Louise with one of the biggest deals in the wealth 8 00:00:29,200 --> 00:00:32,919 Speaker 3: management scene. We're seeing a big deal involving Schroeders. 9 00:00:33,320 --> 00:00:36,879 Speaker 4: Indeed, so Schroeders is being bought by Neuvine, which is 10 00:00:36,920 --> 00:00:39,960 Speaker 4: a US investment manager, and that's for nine point nine 11 00:00:40,000 --> 00:00:44,440 Speaker 4: billion pounds, so it's a big deal. Obviously, Schroeders is, 12 00:00:44,520 --> 00:00:46,280 Speaker 4: you know, one of the kind of biggest, most historic 13 00:00:46,360 --> 00:00:49,879 Speaker 4: names on the London finance scene. It ends more than 14 00:00:49,920 --> 00:00:56,080 Speaker 4: two centuries of independence for them. Obviously marks another foreign 15 00:00:56,120 --> 00:01:00,360 Speaker 4: swoop for a London based company. You know, we've been 16 00:01:00,360 --> 00:01:03,320 Speaker 4: seeing a lot of these companies either being bought out, 17 00:01:04,280 --> 00:01:06,600 Speaker 4: going private, moving their lessings elsewhere. 18 00:01:06,680 --> 00:01:09,480 Speaker 1: This is kind of another example of that trend. 19 00:01:09,840 --> 00:01:13,280 Speaker 4: But the Schrolders brand itself will be retained, London will 20 00:01:13,319 --> 00:01:16,800 Speaker 4: still be the combined groups headquarters outside of the US, 21 00:01:16,800 --> 00:01:20,720 Speaker 4: and it will be the largest office. And then importantly 22 00:01:20,720 --> 00:01:24,600 Speaker 4: for Schroders, what it does is it adds a scale. 23 00:01:25,000 --> 00:01:27,040 Speaker 4: It's you know, if you look back at their share 24 00:01:27,080 --> 00:01:29,480 Speaker 4: price over the past five years or so, it's fallen 25 00:01:29,760 --> 00:01:33,920 Speaker 4: almost twenty five percent. It's been really underperforming rivals in Europe. 26 00:01:34,240 --> 00:01:36,520 Speaker 4: There's been a lot of criticisms surrounding Schroders, you know, 27 00:01:36,600 --> 00:01:40,000 Speaker 4: centered upon well part of it is related upon its 28 00:01:40,080 --> 00:01:43,600 Speaker 4: relatively high cost base. It's seen slower growth in its 29 00:01:43,640 --> 00:01:47,480 Speaker 4: private markets units. There's been some criticism around it. And 30 00:01:47,520 --> 00:01:50,920 Speaker 4: this deal adds a lot of scale combining with the 31 00:01:51,040 --> 00:01:54,480 Speaker 4: US company. In the release this morning, it was saying 32 00:01:54,480 --> 00:01:57,440 Speaker 4: that it will create one of the world's largest active 33 00:01:57,440 --> 00:01:59,320 Speaker 4: asset managers that's going to have an elite two point 34 00:01:59,360 --> 00:02:02,320 Speaker 4: five trillion dollars of assets. So it's a big deal 35 00:02:02,480 --> 00:02:06,520 Speaker 4: creating a huge asset manager. And you could see the 36 00:02:06,520 --> 00:02:09,640 Speaker 4: reaction from Shreda's share price swored at the open sword 37 00:02:09,680 --> 00:02:10,360 Speaker 4: thirty percent. 38 00:02:11,560 --> 00:02:14,880 Speaker 3: Let's turn next to the Dutch payments platform a genet 39 00:02:15,000 --> 00:02:17,440 Speaker 3: Shares one of the biggest hundred performers in Europe today 40 00:02:17,480 --> 00:02:19,200 Speaker 3: down sixteen percent currently. 41 00:02:19,240 --> 00:02:22,280 Speaker 4: What's gone on, Yeah, shares really plunging, at one point, 42 00:02:22,280 --> 00:02:24,959 Speaker 4: wiping out six point six billion euros in market value 43 00:02:25,080 --> 00:02:27,280 Speaker 4: for them this morning. As you say, they are a 44 00:02:27,320 --> 00:02:30,800 Speaker 4: payments company listed in Amsterdam. They've got huge clients like 45 00:02:31,000 --> 00:02:35,360 Speaker 4: uber eBay. They've essentially pointed to softer revenue growth going 46 00:02:35,360 --> 00:02:38,520 Speaker 4: forwards that they're seeing now net revenue to grow up 47 00:02:38,520 --> 00:02:41,680 Speaker 4: to twenty two percent. Their previous guidance had said up 48 00:02:41,680 --> 00:02:44,120 Speaker 4: to mid twenties, and they're saying this is all due 49 00:02:44,160 --> 00:02:47,040 Speaker 4: to economic uncertainties. As I say, a lot of those 50 00:02:47,040 --> 00:02:50,400 Speaker 4: big clients are American America counts foot and was a 51 00:02:50,440 --> 00:02:54,240 Speaker 4: third of their business. So weaker dollar, slow in growth, 52 00:02:54,840 --> 00:02:57,200 Speaker 4: less consumer spending in the US, which we saw earlier 53 00:02:57,200 --> 00:02:59,520 Speaker 4: in the week with US retail data, and that's really 54 00:02:59,560 --> 00:03:03,680 Speaker 4: weighing on their business and so appointing to that kind 55 00:03:03,680 --> 00:03:07,760 Speaker 4: of softer outlook going forward, which is pulling the shares down. 56 00:03:07,560 --> 00:03:09,080 Speaker 1: Today, okay. 57 00:03:09,120 --> 00:03:12,080 Speaker 3: And then in the luxury sector Ermaz they've got it 58 00:03:12,120 --> 00:03:12,600 Speaker 3: in the bag. 59 00:03:13,200 --> 00:03:16,040 Speaker 4: They have ending on a slightly more positive note. So 60 00:03:16,200 --> 00:03:18,960 Speaker 4: sales ermes grew. This is in their fourth quarter. They 61 00:03:19,000 --> 00:03:21,600 Speaker 4: had their fourth quarter results this morning, mostly as you say, 62 00:03:21,680 --> 00:03:24,880 Speaker 4: due to strong demands for their Birken bag, so that 63 00:03:25,040 --> 00:03:27,280 Speaker 4: was kind of the key, but they did see games 64 00:03:27,320 --> 00:03:31,480 Speaker 4: across all markets most of their products, essentially showing that 65 00:03:31,520 --> 00:03:34,800 Speaker 4: they're resonating with luxury shoppers globally. 66 00:03:35,200 --> 00:03:37,920 Speaker 1: So overall revenues were up nine point eight percent. 67 00:03:37,960 --> 00:03:41,000 Speaker 4: That was above expectations, and as I say, yeah, they've 68 00:03:41,000 --> 00:03:43,560 Speaker 4: been a bit of a standout for kind of weathering 69 00:03:43,720 --> 00:03:47,480 Speaker 4: the storm that's been around luxury products. They've done a 70 00:03:47,480 --> 00:03:50,720 Speaker 4: lot better than for example, LVMH, one of their key rivals. 71 00:03:51,240 --> 00:03:53,360 Speaker 4: You know, the whole industry has been grappling with changing 72 00:03:53,360 --> 00:03:57,080 Speaker 4: consumer habits as I've just mentioned spending, there's tariffs, higher taxes, 73 00:03:57,880 --> 00:03:59,520 Speaker 4: so it's been really grappling with a lot of that. 74 00:03:59,680 --> 00:04:01,160 Speaker 1: But mess has. 75 00:04:01,840 --> 00:04:05,160 Speaker 4: Done well in kind of catering to those exclusive clients. 76 00:04:05,200 --> 00:04:07,880 Speaker 4: They keep items very scarce, like the Birken bag, so 77 00:04:07,880 --> 00:04:10,960 Speaker 4: that creates a lot of demand and they're less as 78 00:04:10,960 --> 00:04:13,520 Speaker 4: I said that, there's less kind of those aspirational customers 79 00:04:13,600 --> 00:04:15,920 Speaker 4: that they're really catering to that top end. So they've 80 00:04:16,000 --> 00:04:18,479 Speaker 4: kept that demand and you can see that in their 81 00:04:18,520 --> 00:04:19,360 Speaker 4: results this morning. 82 00:04:20,040 --> 00:04:21,640 Speaker 1: So a strong day for. 83 00:04:21,880 --> 00:04:27,160 Speaker 2: The stock movers. Report from Bloomberg Radio. Check back with 84 00:04:27,240 --> 00:04:29,800 Speaker 2: us throughout the day. For the latest roundup of companies 85 00:04:29,880 --> 00:04:32,960 Speaker 2: making news on Wall Street, and for the latest market 86 00:04:33,000 --> 00:04:37,440 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 87 00:04:37,560 --> 00:04:41,080 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 88 00:04:41,120 --> 00:04:42,599 Speaker 2: the Bloomberg Business app.