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 3: Let's take a look now at some of the stocks
Speaker 3: on the move today here in Europe. I'm Caroline Hepgar
Speaker 3: with Lizzie Burton. We're joined by Bloomberg Report, clomb A Ley.
Speaker 3: Good morning, So it's a really big day for earnings
Speaker 3: and results, but it's actually added Das that has seen
Speaker 3: the biggest share price reaction, so that's where we're going
Speaker 3: to start.
Speaker 4: Yeah, very upbeat results from Adidas, so very good momentum
Speaker 4: in its apparel division, so that includes things like athlesia
Speaker 4: or retro football jerseys as well. So just in terms
Speaker 4: of anecdotal evidence of how popular that is with the
Speaker 4: younger generation, my brother was begging for a ninety five
Speaker 4: re edition over Liverpool FC jersey for his twenty fifth
Speaker 4: birth day, which he got and he was very happy.
Speaker 1: So that's definitely very popular.
Speaker 4: And Adidas also so very strong momentum and it's running
Speaker 4: and training product, so it was of course in the
Speaker 4: news very recently because marathon records were broken with Edida's shoes,
Speaker 4: and so and as are saying that Edidas is seeing
Speaker 4: really really strong demand and that is really rare in
Speaker 4: what has become an increasingly fragmented and difficult sportswear market.
Speaker 4: That's obviously a sector that's been dealing with a range
Speaker 4: of challenges including tariffs, including currency headwinds, and then also
Speaker 4: of course a much weaker discretionary spending recently. But it
Speaker 4: seems that Edida is really managing to rise above those challenges,
Speaker 4: and the Football World Cup this summer is also going
Speaker 4: to be an additional boost. It's sponsoring teams like Argentina
Speaker 4: and Germany, Spain, Mexico, some big ones. Yeah, if you
Speaker 4: want to get under two hours on a marathon, get
Speaker 4: yourself some Adidas trade.
Speaker 1: Seems to be the conclusion of the weekend.
Speaker 3: Look, it's a similar positive story for a Mundy Curry
Speaker 3: also on the move.
Speaker 1: What's jolting investor is there?
Speaker 2: Yeah?
Speaker 4: It's interesting for a Mundy because the expectations going into
Speaker 4: the earnings was that the geopolitical uncertainty of the recent
Speaker 4: months would mean more muted markets and therefore more muted
Speaker 4: performance for asset managers. But Mundi actually reported the biggest
Speaker 4: quarterly inflows in more than four years, and so that
Speaker 4: was primarily driven by a demand for extra for ETFs
Speaker 4: and for index products as well, and it seems that
Speaker 4: this demand was really not impacted by.
Speaker 1: The war in the Middle East at all.
Speaker 4: So the CEO said that inflows were truly exceptional crisis
Speaker 4: or no crisis, but she still remains a little bit
Speaker 4: cautious going forward because clients could potentially start holding back
Speaker 4: the longer that the conflict goes on. But for now, though,
Speaker 4: she said that the company needs to monitor the situation closely,
Speaker 4: but that they need to also avoid falling into excessive pessimism.
Speaker 4: So it's a pretty good day for a MUNDI in
Speaker 4: quite bright and positive outlook.
Speaker 3: Okay, Deutsche Bank, though their share price at falling took
Speaker 3: us through the market reaction to that news.
Speaker 4: Yeah, it's a bit more of a mixed picture for Doutschebank.
Speaker 4: The profit and the revenue were better than expected, but
Speaker 4: then that was overshadowed by rising provisions for bad loans
Speaker 4: and then also a big miss on a key metric
Speaker 4: of capital strem.
Speaker 1: So let's start with the provisions. It said that it.
Speaker 4: Had a single name exposure commercial real estate that had
Speaker 4: really pushed up provisions to five hundred million euros. And
Speaker 4: so before the earnings actually some analysts had already started
Speaker 4: kind of sounding the alarm over some of that commercial
Speaker 4: real estate exposure, that private credit exposure as well. For
Speaker 4: Deutsche Bank, it's one of the most exposed in the
Speaker 4: banking space in Europe. And then on capital strength, the
Speaker 4: CT one capital ratio also fell by more than expected.
Speaker 4: So overall that means that the war in Iran and
Speaker 4: the impact on economic growth is starting to make it
Speaker 4: a little bit more difficult for doutsche Bank maybe to
Speaker 4: enact its strategy of boosting investor payouts and boosting profitability
Speaker 4: as well. And so now Deutsche Bank is the worst
Speaker 4: performer in among all of the European banks.
Speaker 2: The Stock Mover's Report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to the 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.