1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg data. 4 00:00:17,760 --> 00:00:19,639 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:19,680 --> 00:00:22,320 Speaker 3: move today in Europe. I'm Stephen Carroll and were joined 6 00:00:22,360 --> 00:00:25,560 Speaker 3: by Bloomberg's equities reporter Joe Easton. Joe, Good morning, with 7 00:00:25,800 --> 00:00:29,000 Speaker 3: air shares losing some altitude this morning, more than just turbulence. 8 00:00:29,000 --> 00:00:29,560 Speaker 3: What's to blame? 9 00:00:29,840 --> 00:00:33,000 Speaker 1: Yes, investers in the brake position on that one. So 10 00:00:33,120 --> 00:00:35,479 Speaker 1: that's stock. We're down twenty percent at the moment. That 11 00:00:35,640 --> 00:00:38,919 Speaker 1: is the steepest drop since the pandemic days, So kind 12 00:00:38,960 --> 00:00:42,320 Speaker 1: of telling us how bad that was. Now, this is 13 00:00:42,360 --> 00:00:45,800 Speaker 1: after the regular training update from the airline, which is 14 00:00:45,840 --> 00:00:48,959 Speaker 1: focused on the eastern part of Europe. That's where they 15 00:00:48,960 --> 00:00:51,040 Speaker 1: do most of their business. But it seems to be 16 00:00:51,080 --> 00:00:54,240 Speaker 1: the cost actually really hitting the company at the moment. 17 00:00:54,280 --> 00:00:58,520 Speaker 1: I don't expect to costs. According to analysts over at Jeffries, 18 00:00:59,080 --> 00:01:02,279 Speaker 1: they do all so know that the lack of clarity 19 00:01:02,320 --> 00:01:04,760 Speaker 1: around where the war in Eastern Europe is going is 20 00:01:04,800 --> 00:01:07,280 Speaker 1: not helping some of their routes at the moment, but 21 00:01:07,360 --> 00:01:09,800 Speaker 1: The main thing does seem to be costs, which they 22 00:01:10,360 --> 00:01:14,600 Speaker 1: assign to staffing and also maintenance. WIZ has actually had 23 00:01:14,600 --> 00:01:18,480 Speaker 1: a lot of problems with supply of jets, previously having 24 00:01:18,520 --> 00:01:22,800 Speaker 1: issues with the plane supply air Bus, so its pricing competition, 25 00:01:22,880 --> 00:01:25,640 Speaker 1: so it's been a big underperform already massively down over 26 00:01:25,680 --> 00:01:27,920 Speaker 1: the past couple of years, and down another twenty five 27 00:01:27,959 --> 00:01:28,600 Speaker 1: percent today. 28 00:01:28,880 --> 00:01:31,240 Speaker 3: Yeah, ind very interesting to see that big move in 29 00:01:31,280 --> 00:01:35,160 Speaker 3: the airline space this morning. Let's shift though to the 30 00:01:35,200 --> 00:01:39,120 Speaker 3: fintech company Why is best known for its international payments, 31 00:01:39,120 --> 00:01:42,080 Speaker 3: shifting its primary listing away from London. Is this a 32 00:01:42,120 --> 00:01:42,720 Speaker 3: wise move? 33 00:01:43,959 --> 00:01:46,000 Speaker 1: But yes, I think yeah, there's only one pun to do. 34 00:01:46,040 --> 00:01:47,880 Speaker 1: There isn't there why it is? Well, it could be 35 00:01:47,960 --> 00:01:49,680 Speaker 1: wise because. 36 00:01:49,440 --> 00:01:52,280 Speaker 3: There's a transfer one as well, because it's transfer wise. 37 00:01:52,080 --> 00:01:56,680 Speaker 1: Transfer trans know of course, because this is the company 38 00:01:56,680 --> 00:01:59,720 Speaker 1: that is behind transfer wise, so we could yeah, transferring 39 00:01:59,720 --> 00:02:03,280 Speaker 1: their that is the potential news. So why is coming 40 00:02:03,320 --> 00:02:06,280 Speaker 1: out today saying that they could relist to the US, 41 00:02:06,320 --> 00:02:09,440 Speaker 1: which is the last thing the LSE or anyone who 42 00:02:09,480 --> 00:02:12,400 Speaker 1: has a stake in UK capital markets wants to hear, 43 00:02:12,400 --> 00:02:15,119 Speaker 1: because we have, of course in a few companies over 44 00:02:15,160 --> 00:02:18,320 Speaker 1: the past few years shifting over to the US like Flutter, 45 00:02:18,360 --> 00:02:21,240 Speaker 1: for example, the gambling company CRCH in order to get 46 00:02:21,240 --> 00:02:24,600 Speaker 1: a higher evaluation because US stocks tend to be listed 47 00:02:25,520 --> 00:02:28,760 Speaker 1: or priced more highly when they are listed in the US. 48 00:02:29,120 --> 00:02:32,320 Speaker 1: So why is stock actually up nine percent? I think 49 00:02:32,360 --> 00:02:34,919 Speaker 1: it is mostly due to this news because the results 50 00:02:34,919 --> 00:02:38,440 Speaker 1: from Wise, as you said there, Stephen, is mostly the 51 00:02:38,520 --> 00:02:41,760 Speaker 1: transfer Wise company pretty much in line with the expectations 52 00:02:41,760 --> 00:02:44,160 Speaker 1: and not very exciting. The main excitement seems to be 53 00:02:44,360 --> 00:02:48,160 Speaker 1: if they move to the US, will the valuation then increase? 54 00:02:48,520 --> 00:02:51,320 Speaker 1: Investors pricing that in and Wise up nine percent today. 55 00:02:51,680 --> 00:02:54,320 Speaker 3: Yeah, certainly very interesting to see that move on the 56 00:02:54,320 --> 00:02:56,160 Speaker 3: back of that announcement. As you say, not a great 57 00:02:56,200 --> 00:02:59,519 Speaker 3: headline for the London markets. We're going to Germany next 58 00:02:59,639 --> 00:03:03,280 Speaker 3: and the chemicals and pharmacies called firm Buyer good chemistry there. 59 00:03:05,040 --> 00:03:09,120 Speaker 1: Oh, it is fantastic. So Buyer we are up five 60 00:03:09,200 --> 00:03:12,440 Speaker 1: percent on that one, So big game. Now Goldman Sachs 61 00:03:12,600 --> 00:03:15,120 Speaker 1: raising this one to buy, so Goldman is a buyer 62 00:03:15,160 --> 00:03:17,919 Speaker 1: of Buyer throw that one in. So this stock gaining 63 00:03:17,960 --> 00:03:21,840 Speaker 1: because Goldman thinks that concern around the weed killer legal 64 00:03:21,919 --> 00:03:24,760 Speaker 1: case is overdone. So people will have heard about this 65 00:03:24,800 --> 00:03:27,880 Speaker 1: of course, this is the issue where round up was 66 00:03:28,040 --> 00:03:31,919 Speaker 1: used by a lot of Gardener's landscapers in the US, 67 00:03:32,200 --> 00:03:34,960 Speaker 1: and some of them said that it sadly was behind 68 00:03:35,280 --> 00:03:38,360 Speaker 1: their cancer and their cancer issues. To Buyer was sued 69 00:03:38,400 --> 00:03:41,440 Speaker 1: by that this is wipe tens of billions of dollars 70 00:03:41,720 --> 00:03:44,320 Speaker 1: off the company's market cap. However, by it is going 71 00:03:44,360 --> 00:03:46,760 Speaker 1: to appeal one of these rulings to the Supreme Court. 72 00:03:47,040 --> 00:03:50,320 Speaker 1: And Goldman's trading idea is that if the Supreme Court 73 00:03:50,360 --> 00:03:54,360 Speaker 1: accepts this case took for review on these cases, they 74 00:03:54,400 --> 00:03:56,960 Speaker 1: think the stock could rise twenty percent, So they're recommending 75 00:03:57,000 --> 00:04:00,840 Speaker 1: buying the stock today on that legal potentially risk eazing, 76 00:04:01,120 --> 00:04:03,560 Speaker 1: and the stock is gaining fopsent in Geminy. 77 00:04:04,360 --> 00:04:08,720 Speaker 2: The Stockmovers podcast from Bloomberg Radio. 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