Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Now, let's take a look at some stocks on the
Speaker 2: move today in Europe. I'm rach Evans with Caroline Hepka,
Speaker 2: and we're joined by Bloomberg's t adabiyou Tia. Let's start
Speaker 2: with Richmond. Results were out today. How are investors reacting?
Speaker 3: Well, it's really up and down actually for Rechemont. This morning.
Speaker 3: Some eagle eyed terminal viewers amongst you might have seen
Speaker 3: an earlier headline talking about how Richemont was climbing on
Speaker 3: this resilient demand for jewelry. But literally, as I was
Speaker 3: about to come in, there's another headline that's talking about
Speaker 3: how Reshwond's now falling due to a profit miss. So
Speaker 3: the earlier gains were driven by this idea of resilience.
Speaker 3: Rechemont outperforming a lot of its peers in the luxury
Speaker 3: sector that seemed to be faltering, and that's despite its
Speaker 3: substantial Middle East exposure. To Analysts were saying that it's
Speaker 3: closed a volatile and generally downbeat luxury reporting season. But
Speaker 3: it seems that perhaps some analysts have looked a bit
Speaker 3: closer at those numbers. Now it's down just under three percent,
Speaker 3: it's raised earlier gains, and that's after investors have really
Speaker 3: penalized Rechmore for an operating profit MYSS that was largely
Speaker 3: driven by currency headwinds. So a mixed picture for Rechmore
Speaker 3: this morning as the luxury sector deals with some headwinds
Speaker 3: more broadly.
Speaker 4: Yeah, okay, So from luxury to cosmetics, no deal or
Speaker 4: a cosmetic steel turns ugly if you really want a
Speaker 4: terrible bun. This is about we get estay Order.
Speaker 3: Yeah. So Pouter's down today, and that's after the collapse
Speaker 3: of talks about this proposed combination with esday Order. It
Speaker 3: would have created one of the world's largest fragrance and
Speaker 3: skincare companies. Shares punged fifteen percent on the news. That's
Speaker 3: the most since their twenty twenty four ips. It's a
Speaker 3: big reaction. But apparently this all fell apart due to
Speaker 3: the very famous makeup artist Charlotte Tilbury and her demands
Speaker 3: regarding her own compensation in the deal. She had sold
Speaker 3: her company to Pooge previously, so both companies have issued
Speaker 3: statements saying that the discussions were over. That was yesterday.
Speaker 3: Neither have elaborated on the reason, so perhaps more to
Speaker 3: come there as we find out exactly what it was
Speaker 3: that tanked those discussions.
Speaker 2: All right, and there's also been a bit of news
Speaker 2: that Julius Behar, what's been going on there.
Speaker 3: Julia Julius Behar. Shares down this morning as following an
Speaker 3: earnings updates that analysts are saying is disappointing. They've noted
Speaker 3: weak inflows, a sizeable drop as much as ten point
Speaker 3: four percent today, and that's after some recent strong performance. Actually,
Speaker 3: shares gained nine percent year to day through Thursday, so
Speaker 3: analysts are really focused on this question of inflows. KBW
Speaker 3: highlighted the weaker trends in net new money, but they
Speaker 3: also needed weakness in hiring and interest income, which could
Speaker 3: put pressure on shares. But there are some positives which
Speaker 3: have been called out, some improvements in CT one ratio,
Speaker 3: which supports expectations for future buybacks. So perhaps not all bad,
Speaker 3: but definitely a big drop for Gigi Spare this.
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