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 1: But let's second look at some stocks on the move
Speaker 1: today in Europe. I'm Stephen Carroll and I'm joined by
Speaker 1: Bloomberg reporter Chloe Melee.
Speaker 3: Chloe, good morning.
Speaker 1: Let's start with a stock that if you were to
Speaker 1: make a joke, you'd say it could be all Gucci.
Speaker 3: Yeah. Absolutely, Yeah.
Speaker 4: Caring is up very strongly this morning because the sales
Speaker 4: at Gucci, which is its flagship brand, actually but they
Speaker 4: did drop ten percent in the last quarter, but crucially
Speaker 4: that was very much in line with what analysts had expected.
Speaker 4: So for investors, for analysts, that's seen as reassuring. It's
Speaker 4: a signed that the turnaround under the new CEO, Luca Demo,
Speaker 4: who started in September, is progressing quite well. Although it
Speaker 4: might take a while, it's making progress. And so the
Speaker 4: next big catalyst for Caring is really going to be
Speaker 4: the debut collection of the new Gucci design A Demna,
Speaker 4: which is happening in a couple of weeks at mid
Speaker 4: An Fashion Week. So that will be closely watched by
Speaker 4: investors as well as stylists, and for Caring results are encouraging,
Speaker 4: and then for the broader luxury sector this is also
Speaker 4: seen as quite reassuring. You know, we started the season
Speaker 4: with some positive updates from Barbera and Richmond, but then
Speaker 4: we had the big setback of LVMH coming in with
Speaker 4: a quite down beat outlook with disappointing results. But now
Speaker 4: we've got those Carrying results and that will perhaps fuel
Speaker 4: the hope of a luxury rebound that is actually going
Speaker 4: to be happening at some point this year. So we
Speaker 4: are very strongly for carrying and that drove the rest
Speaker 4: of that luxury sector this morning, all in the green.
Speaker 1: Okoye, I'm on a roll with joke, so I'm proud
Speaker 1: of myself for it does BP has turned for buyback pause.
Speaker 4: It might just be BP is indeed pausing is shared
Speaker 4: buyer bags, which is a big deal for an oil company,
Speaker 4: given that this is a sector that is really known
Speaker 4: for and appreciated by investors for those consistent shareholder returns,
Speaker 4: and SOP is holding those buyo bags and also raised
Speaker 4: its target for cost cuts.
Speaker 3: For this year, I mean through to twenty twenty seven.
Speaker 4: So this pausing of buyo bags those efforts to reduce costs.
Speaker 4: This is all part of an attempt to shore up
Speaker 4: the balance sheet and that is part of the attempt
Speaker 4: as well of this turnaround strategy, this refocus.
Speaker 3: On oil and gas that BP has been working on.
Speaker 4: And twenty twenty five has been a difficult time for
Speaker 4: the company. It started with pressure from activist investor Elliot.
Speaker 4: It ended with the chairman getting rid of the CEO.
Speaker 4: We also had oil prices weakening towards the end of
Speaker 4: last year, adding to those challenges, and so the hope
Speaker 4: is that twenty twenty six will be a little bit better.
Speaker 3: We've got a new CEO coming in in April.
Speaker 4: She's got a really really major track record of championing
Speaker 4: fossil fuels, so investors see her as accelerating that shift
Speaker 4: towards towards oil and guess in away from clean energy,
Speaker 4: and her appointment was taken quite well by the market
Speaker 4: when it was announced.
Speaker 5: But she does have a really big task ahead of her.
Speaker 5: And I'll be serious for the last one, Chloe. We're
Speaker 5: going to turn to Barclays next. Shares in the bank
Speaker 5: rising slightly again this morning, but it's after it had
Speaker 5: a very good year.
Speaker 4: Yeah, it had a really really good year in twenty
Speaker 4: twenty five, and it looks like today from the results
Speaker 4: that twenty twenty six will also be pretty good. So
Speaker 4: the performance from last year is expected to continue. We had,
Speaker 4: for example, the trading division, which has been a major
Speaker 4: revenue driver throughout twenty twenty five. Because of all the
Speaker 4: market volatility that we saw, it had another great quarter.
Speaker 4: It's probably going to have a grade twenty twenty six
Speaker 4: as well. And then the targets that were set for
Speaker 4: twenty twenty eight seemed to kind of show confidence that
Speaker 4: the company has plans to return more than fifteen billion
Speaker 4: pounds to shareholders through to twenty twenty eight. So shares
Speaker 4: were initially higher at the open, but then had some
Speaker 4: of those gains now hovering a little bit quite flat.
Speaker 3: Some of those that.
Speaker 4: Weakness might be driven by disappointment on those payout targets.
Speaker 4: You know, fifteen billion pounds sounds like a lot to me,
Speaker 4: but and lizad actually initially expected that it would be
Speaker 4: more around seventeen billions, so there might be a bit
Speaker 4: of disappointment there. There's also a question mark that remains
Speaker 4: around Trump's plans to cap interest rates on credit cards
Speaker 4: over in the US that would potentially have quite a
Speaker 4: big impact on the US business for Barclays, and the
Speaker 4: CFO said this morning that this would lead to week
Speaker 4: of volumes, so that exposure to the US is going
Speaker 4: to be also really much, very much in focus going
Speaker 4: forward to.
Speaker 2: Barclays the Stock Movers report from Bloomberg Radio. Check back
Speaker 2: with us throughout the day for the latest roundup of
Speaker 2: companies making news on Wall Street and for the latest
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android
Speaker 2: Auto with the Bloomberg Business app.