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: Let's take a look at some of the stocks on
Speaker 1: the move today here in Europe. I'm Caroline Heppier, would
Speaker 1: Jamna Bisetchi and we joined bub Blomberg Report, Cloague and Malay.
Speaker 1: Good morning. So the mining giant glen Core posting a
Speaker 1: drop in profits even record copper prices didn't do it?
Speaker 1: How I investors thinking about this news.
Speaker 3: Well, actually shares were up this morning despite the fact that,
Speaker 3: as you said, profit did for because those record copper
Speaker 3: prices were not quite enough to offset some of the
Speaker 3: weakness in the core business in particular, which has been
Speaker 3: a struggling for some time. But the reason why the
Speaker 3: shares are up might have a lot to do with
Speaker 3: the fact that glen Core is planning to return two
Speaker 3: billion dollars to shareholders, and so this is probably something
Speaker 3: that is offsetting some of those disappointing results. And the
Speaker 3: results do come just a couple of weeks after the
Speaker 3: deal talks between glen Core reat into collapse. So now
Speaker 3: glen Core really has to show investors that it can
Speaker 3: make that progress on its own. And the big thing
Speaker 3: that glen Core has got going for it is its
Speaker 3: copper business, and that is the metal that everyone wants
Speaker 3: access to right now. Of course, it is here multiple
Speaker 3: records over the last month, and that was one of
Speaker 3: the main motivations for Riotinto to merge with with glen Core.
Speaker 3: But the copper business that glen Core does need to
Speaker 3: be improved because production keeps falling and it's consistently missed
Speaker 3: production targets. But there is some progress towards that at
Speaker 3: the moment that glen Core said this morning that it
Speaker 3: had reached an agreement with the Democratic Republic of Congo's
Speaker 3: state mining company to over a land package that will
Speaker 3: allow it to boost copper production in that country. So
Speaker 3: the copper output reset is in progress and that is
Speaker 3: quite reassuring and that really needs to be the focus
Speaker 3: going forward for Glencore.
Speaker 1: Yeah, what about Bee Systems, which looks the benefit from
Speaker 1: the optic in defence spending.
Speaker 3: Yeah, absolutely, So BAA is expecting that momentum in sales
Speaker 3: and earnings to stabilize this year after what has been
Speaker 3: a record twenty twenty five for the company. So the
Speaker 3: promise of that steady growth rather than any acceleration was
Speaker 3: enough to get investors excited because we're talking about maintaining
Speaker 3: growth at quite a high level. And BAE is, of course,
Speaker 3: as you say, been one of the main beneficiaries of
Speaker 3: this big ramp up in defense spending across Europe and
Speaker 3: last year it did raise its outlooks, so that means
Speaker 3: that that could happen this year as well, especially given
Speaker 3: that there's no sign that defence budgets will be shrinking
Speaker 3: this year. And it seems the analysts are really seeing
Speaker 3: this as a long term story for BAE. We've got
Speaker 3: Morgan Stanley, for example, saying they're increasingly confident that the
Speaker 3: company can sustain high single digit revenue growth for the
Speaker 3: foreseeable or so. All in all, we've got great results,
Speaker 3: very promising guidance for BAE, and that is definitely reflected
Speaker 3: in the yesterday. We were firmly in the green this morning.
Speaker 1: Meanwhile, the retailer care for as much as five percent
Speaker 1: after delivering full year results which are seen as slightly
Speaker 1: weaker than expected.
Speaker 3: Yeah, we've got profit missing expectations, cash flow being disappointing.
Speaker 3: The fourth quarter sales were positive but also a little
Speaker 3: bit below what analysts I'd expected, so that weakness definitely
Speaker 3: across the board for car four in. The company is
Speaker 3: also holding a capital markets day to day and it
Speaker 3: has set some twenty thirty targets and in particular strategy
Speaker 3: that's really focused on the France, Spain and Brazil markets,
Speaker 3: is planning to gain more and more market share in
Speaker 3: those countries, and that is after Cafe Is exted markets
Speaker 3: like Italy and Romania as well because those were not
Speaker 3: performing as well. But City analysts have said that those
Speaker 3: long term growth targets are quite ambitious, which might mean
Speaker 3: they're quite there will be quite difficult to achieve, and
Speaker 3: JP Morgan, analyst, said that right now the weak results
Speaker 3: for twenty twenty five will be overshadowing the midterm outlook
Speaker 3: to twenty thirty, So Carfell does have a big task
Speaker 3: ahead of it to revive that growth in those court
Speaker 3: markets and get the cash flow back on track.
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