WEBVTT - Richemont Climbs, Puig Falls, Julius Baer Drops

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 2>Now, let's take a look at some stocks on the

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<v Speaker 2>move today in Europe. I'm rach Evans with Caroline Hepka,

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<v Speaker 2>and we're joined by Bloomberg's t adabiyou Tia. Let's start

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<v Speaker 2>with Richmond. Results were out today. How are investors reacting?

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<v Speaker 3>Well, it's really up and down actually for Rechemont. This morning.

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<v Speaker 3>Some eagle eyed terminal viewers amongst you might have seen

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<v Speaker 3>an earlier headline talking about how Richemont was climbing on

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<v Speaker 3>this resilient demand for jewelry. But literally, as I was

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<v Speaker 3>about to come in, there's another headline that's talking about

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<v Speaker 3>how Reshwond's now falling due to a profit miss. So

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<v Speaker 3>the earlier gains were driven by this idea of resilience.

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<v Speaker 3>Rechemont outperforming a lot of its peers in the luxury

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<v Speaker 3>sector that seemed to be faltering, and that's despite its

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<v Speaker 3>substantial Middle East exposure. To Analysts were saying that it's

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<v Speaker 3>closed a volatile and generally downbeat luxury reporting season. But

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<v Speaker 3>it seems that perhaps some analysts have looked a bit

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<v Speaker 3>closer at those numbers. Now it's down just under three percent,

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<v Speaker 3>it's raised earlier gains, and that's after investors have really

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<v Speaker 3>penalized Rechmore for an operating profit MYSS that was largely

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<v Speaker 3>driven by currency headwinds. So a mixed picture for Rechmore

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<v Speaker 3>this morning as the luxury sector deals with some headwinds

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<v Speaker 3>more broadly.

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<v Speaker 4>Yeah, okay, So from luxury to cosmetics, no deal or

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<v Speaker 4>a cosmetic steel turns ugly if you really want a

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<v Speaker 4>terrible bun. This is about we get estay Order.

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<v Speaker 3>Yeah. So Pouter's down today, and that's after the collapse

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<v Speaker 3>of talks about this proposed combination with esday Order. It

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<v Speaker 3>would have created one of the world's largest fragrance and

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<v Speaker 3>skincare companies. Shares punged fifteen percent on the news. That's

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<v Speaker 3>the most since their twenty twenty four ips. It's a

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<v Speaker 3>big reaction. But apparently this all fell apart due to

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<v Speaker 3>the very famous makeup artist Charlotte Tilbury and her demands

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<v Speaker 3>regarding her own compensation in the deal. She had sold

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<v Speaker 3>her company to Pooge previously, so both companies have issued

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<v Speaker 3>statements saying that the discussions were over. That was yesterday.

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<v Speaker 3>Neither have elaborated on the reason, so perhaps more to

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<v Speaker 3>come there as we find out exactly what it was

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<v Speaker 3>that tanked those discussions.

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<v Speaker 2>All right, and there's also been a bit of news

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<v Speaker 2>that Julius Behar, what's been going on there.

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<v Speaker 3>Julia Julius Behar. Shares down this morning as following an

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<v Speaker 3>earnings updates that analysts are saying is disappointing. They've noted

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<v Speaker 3>weak inflows, a sizeable drop as much as ten point

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<v Speaker 3>four percent today, and that's after some recent strong performance. Actually,

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<v Speaker 3>shares gained nine percent year to day through Thursday, so

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<v Speaker 3>analysts are really focused on this question of inflows. KBW

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<v Speaker 3>highlighted the weaker trends in net new money, but they

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<v Speaker 3>also needed weakness in hiring and interest income, which could

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<v Speaker 3>put pressure on shares. But there are some positives which

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<v Speaker 3>have been called out, some improvements in CT one ratio,

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<v Speaker 3>which supports expectations for future buybacks. So perhaps not all bad,

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<v Speaker 3>but definitely a big drop for Gigi Spare this.

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<v Speaker 1>Morning the Stock Movers Report from Bloomberg Radio. Check back

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