WEBVTT - Adidas Runs Ahead, Amundi Beats, Deutsche Bank Down

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look now at some of the stocks

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<v Speaker 3>on the move today here in Europe. I'm Caroline Hepgar

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<v Speaker 3>with Lizzie Burton. We're joined by Bloomberg Report, clomb A Ley.

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<v Speaker 3>Good morning, So it's a really big day for earnings

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<v Speaker 3>and results, but it's actually added Das that has seen

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<v Speaker 3>the biggest share price reaction, so that's where we're going

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<v Speaker 3>to start.

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<v Speaker 4>Yeah, very upbeat results from Adidas, so very good momentum

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<v Speaker 4>in its apparel division, so that includes things like athlesia

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<v Speaker 4>or retro football jerseys as well. So just in terms

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<v Speaker 4>of anecdotal evidence of how popular that is with the

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<v Speaker 4>younger generation, my brother was begging for a ninety five

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<v Speaker 4>re edition over Liverpool FC jersey for his twenty fifth

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<v Speaker 4>birth day, which he got and he was very happy.

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<v Speaker 1>So that's definitely very popular.

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<v Speaker 4>And Adidas also so very strong momentum and it's running

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<v Speaker 4>and training product, so it was of course in the

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<v Speaker 4>news very recently because marathon records were broken with Edida's shoes,

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<v Speaker 4>and so and as are saying that Edidas is seeing

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<v Speaker 4>really really strong demand and that is really rare in

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<v Speaker 4>what has become an increasingly fragmented and difficult sportswear market.

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<v Speaker 4>That's obviously a sector that's been dealing with a range

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<v Speaker 4>of challenges including tariffs, including currency headwinds, and then also

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<v Speaker 4>of course a much weaker discretionary spending recently. But it

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<v Speaker 4>seems that Edida is really managing to rise above those challenges,

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<v Speaker 4>and the Football World Cup this summer is also going

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<v Speaker 4>to be an additional boost. It's sponsoring teams like Argentina

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<v Speaker 4>and Germany, Spain, Mexico, some big ones. Yeah, if you

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<v Speaker 4>want to get under two hours on a marathon, get

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<v Speaker 4>yourself some Adidas trade.

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<v Speaker 1>Seems to be the conclusion of the weekend.

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<v Speaker 3>Look, it's a similar positive story for a Mundy Curry

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<v Speaker 3>also on the move.

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<v Speaker 1>What's jolting investor is there?

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<v Speaker 2>Yeah?

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<v Speaker 4>It's interesting for a Mundy because the expectations going into

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<v Speaker 4>the earnings was that the geopolitical uncertainty of the recent

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<v Speaker 4>months would mean more muted markets and therefore more muted

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<v Speaker 4>performance for asset managers. But Mundi actually reported the biggest

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<v Speaker 4>quarterly inflows in more than four years, and so that

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<v Speaker 4>was primarily driven by a demand for extra for ETFs

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<v Speaker 4>and for index products as well, and it seems that

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<v Speaker 4>this demand was really not impacted by.

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<v Speaker 1>The war in the Middle East at all.

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<v Speaker 4>So the CEO said that inflows were truly exceptional crisis

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<v Speaker 4>or no crisis, but she still remains a little bit

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<v Speaker 4>cautious going forward because clients could potentially start holding back

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<v Speaker 4>the longer that the conflict goes on. But for now, though,

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<v Speaker 4>she said that the company needs to monitor the situation closely,

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<v Speaker 4>but that they need to also avoid falling into excessive pessimism.

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<v Speaker 4>So it's a pretty good day for a MUNDI in

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<v Speaker 4>quite bright and positive outlook.

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<v Speaker 3>Okay, Deutsche Bank, though their share price at falling took

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<v Speaker 3>us through the market reaction to that news.

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<v Speaker 4>Yeah, it's a bit more of a mixed picture for Doutschebank.

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<v Speaker 4>The profit and the revenue were better than expected, but

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<v Speaker 4>then that was overshadowed by rising provisions for bad loans

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<v Speaker 4>and then also a big miss on a key metric

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<v Speaker 4>of capital strem.

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<v Speaker 1>So let's start with the provisions. It said that it.

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<v Speaker 4>Had a single name exposure commercial real estate that had

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<v Speaker 4>really pushed up provisions to five hundred million euros. And

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<v Speaker 4>so before the earnings actually some analysts had already started

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<v Speaker 4>kind of sounding the alarm over some of that commercial

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<v Speaker 4>real estate exposure, that private credit exposure as well. For

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<v Speaker 4>Deutsche Bank, it's one of the most exposed in the

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<v Speaker 4>banking space in Europe. And then on capital strength, the

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<v Speaker 4>CT one capital ratio also fell by more than expected.

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<v Speaker 4>So overall that means that the war in Iran and

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<v Speaker 4>the impact on economic growth is starting to make it

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<v Speaker 4>a little bit more difficult for doutsche Bank maybe to

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<v Speaker 4>enact its strategy of boosting investor payouts and boosting profitability

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<v Speaker 4>as well. And so now Deutsche Bank is the worst

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<v Speaker 4>performer in among all of the European banks.

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