1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,320 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,480 --> 00:00:18,000 Speaker 3: Let's take a look at some stocks on the move 5 00:00:18,040 --> 00:00:20,599 Speaker 3: today in Europe. I'm Stephen Carroll with Lizzie Burton and 6 00:00:20,680 --> 00:00:23,000 Speaker 3: we're joined by Bloomberg's Breaking News editor at Louise Mean 7 00:00:23,000 --> 00:00:26,599 Speaker 3: and Louise. Good morning BP. Let's start there continuing to 8 00:00:26,640 --> 00:00:29,280 Speaker 3: prove that green is not the new black tell us more. 9 00:00:29,680 --> 00:00:33,479 Speaker 1: Indeed, Yes so, BP and a quite an unexpected announcement 10 00:00:33,560 --> 00:00:36,120 Speaker 1: this morning, saying they're expecting to take a four to 11 00:00:36,240 --> 00:00:40,760 Speaker 1: five billion dollar right down in the fourth quarter. Alongside 12 00:00:40,760 --> 00:00:42,720 Speaker 1: the news, they also said that oil trading was set 13 00:00:42,720 --> 00:00:44,720 Speaker 1: to be quite weak in their words, for another quarter 14 00:00:44,760 --> 00:00:47,199 Speaker 1: and production will be flat. But the main thing that's 15 00:00:47,200 --> 00:00:49,600 Speaker 1: been focused on are these impairment charges and this is 16 00:00:49,600 --> 00:00:52,080 Speaker 1: all linked to what they call their transition business, which 17 00:00:52,080 --> 00:00:55,480 Speaker 1: is essentially it's gas and green energy investments, in particular 18 00:00:55,800 --> 00:00:59,040 Speaker 1: the green energy. Of course, this comes as BP is 19 00:00:59,120 --> 00:01:03,400 Speaker 1: pivoting away from green energy. They've been it was a 20 00:01:03,440 --> 00:01:07,440 Speaker 1: failed bet, and you know that they're now moving towards 21 00:01:07,640 --> 00:01:10,360 Speaker 1: towards back towards their core of oil and gas. So 22 00:01:10,400 --> 00:01:14,200 Speaker 1: it's a major reset and a big charge that's coming 23 00:01:15,160 --> 00:01:18,360 Speaker 1: as a part of that. Of course, they only appointed 24 00:01:19,080 --> 00:01:21,240 Speaker 1: or named who's going to be their new incoming CEO 25 00:01:21,360 --> 00:01:24,800 Speaker 1: last month, so she's got this meg O'Neil. She's got 26 00:01:24,920 --> 00:01:27,000 Speaker 1: a lot to deal with, but she's known for having 27 00:01:27,040 --> 00:01:29,520 Speaker 1: she's coming from Australia's Woodside Energy Group and she's known 28 00:01:29,880 --> 00:01:33,839 Speaker 1: for having a clear focus on oil and gas. Of course, 29 00:01:33,880 --> 00:01:37,880 Speaker 1: that change in leadership was quite a sudden change. The 30 00:01:38,080 --> 00:01:41,000 Speaker 1: x CEO had had started to embark on a major reset, 31 00:01:41,000 --> 00:01:44,600 Speaker 1: but investors wanted more. So shares a down on the 32 00:01:44,600 --> 00:01:48,160 Speaker 1: news this morning and lesser expecting a worse fourth quarter 33 00:01:48,560 --> 00:01:52,280 Speaker 1: than they had previously estimated, and all focused around these 34 00:01:52,360 --> 00:01:55,000 Speaker 1: impairment charges. And as I say, as the new CEO 35 00:01:55,080 --> 00:01:56,760 Speaker 1: comes in, I think she's coming in in March or 36 00:01:56,800 --> 00:02:00,520 Speaker 1: April time. A lot to deal with with this reset 37 00:02:00,560 --> 00:02:03,440 Speaker 1: going on now, Laurise, we love us first on stock movers, 38 00:02:03,920 --> 00:02:06,919 Speaker 1: some bright spark has calculated that this is the first 39 00:02:06,960 --> 00:02:10,519 Speaker 1: time Hayes is trading this low in your entire lifetime, 40 00:02:10,919 --> 00:02:15,600 Speaker 1: exposing my age. Indeed, well, yeah, Hayes shares have dropped 41 00:02:15,600 --> 00:02:17,400 Speaker 1: to their lower since nineteen ninety three, so you can 42 00:02:17,440 --> 00:02:21,800 Speaker 1: take from that what you will. I mean, they are 43 00:02:21,840 --> 00:02:24,639 Speaker 1: moving lower this morning, but it's extending declines that we've 44 00:02:24,680 --> 00:02:26,639 Speaker 1: been seeing anyway. They're down about thirty percent over the 45 00:02:26,639 --> 00:02:29,320 Speaker 1: past year. If you look even further back, it's a 46 00:02:29,400 --> 00:02:32,280 Speaker 1: real kind of steep decline and way off a peak 47 00:02:32,320 --> 00:02:36,600 Speaker 1: which is years ago. Now this is after their second 48 00:02:36,680 --> 00:02:40,120 Speaker 1: quarter earning, so they've seen a ten percent reduction in fees, 49 00:02:41,600 --> 00:02:45,359 Speaker 1: worse than expected. Permanent hiring in particular is doing very 50 00:02:45,400 --> 00:02:48,760 Speaker 1: badly and it's adding to this woeful picture for the 51 00:02:48,800 --> 00:02:51,320 Speaker 1: whole of the recruitment industry. Really, we already had Page 52 00:02:51,320 --> 00:02:55,320 Speaker 1: Group results earlier this week. We've got Robert Waters reporting tomorrow. 53 00:02:55,480 --> 00:02:58,800 Speaker 1: Essentially the industry is continuing it's already been happening, but 54 00:02:58,840 --> 00:03:01,520 Speaker 1: continuing to struggle with you know, the likes of the 55 00:03:01,600 --> 00:03:04,799 Speaker 1: rise of AI and this is also being worsened by 56 00:03:04,840 --> 00:03:08,480 Speaker 1: the current tough jobs market in the UK. So not 57 00:03:08,560 --> 00:03:13,400 Speaker 1: a great picture for recruitment and Hayes really accentuating that 58 00:03:13,440 --> 00:03:14,960 Speaker 1: this morning with their second quarter results. 59 00:03:15,800 --> 00:03:18,960 Speaker 3: We've also had news for on Esla and Lexataka, Louise 60 00:03:19,560 --> 00:03:20,960 Speaker 3: HSBC seeing them in a new Light. 61 00:03:21,800 --> 00:03:24,680 Speaker 1: Indeed, shares up in Paris this morning on the back 62 00:03:24,720 --> 00:03:28,480 Speaker 1: of HSPC raising their recommendation from a hold to a buy. 63 00:03:28,680 --> 00:03:31,800 Speaker 1: And this is all due to what they're saying. It's 64 00:03:31,840 --> 00:03:33,880 Speaker 1: due to the growth in smart glasses. So we had 65 00:03:33,919 --> 00:03:38,320 Speaker 1: a story yesterday saying that the company's in talks with 66 00:03:38,400 --> 00:03:42,960 Speaker 1: Meta about potentially doubling production capacity for AI powered smart 67 00:03:42,960 --> 00:03:44,480 Speaker 1: glasses by the end of the year. So this is 68 00:03:44,480 --> 00:03:48,560 Speaker 1: on the back of growing demand and HBC are saying 69 00:03:49,000 --> 00:03:53,280 Speaker 1: that they're benefiting from this Meta R and D, this 70 00:03:53,360 --> 00:03:56,520 Speaker 1: research and development from Meta making them more competitive against rivals, 71 00:03:57,480 --> 00:04:00,720 Speaker 1: raising their total addressable market. If you look at their 72 00:04:00,760 --> 00:04:03,560 Speaker 1: total anless ratings, I mean they've got twenty one buys, 73 00:04:04,640 --> 00:04:06,960 Speaker 1: far up pacing anything else only four holes in two cells. 74 00:04:07,000 --> 00:04:08,280 Speaker 1: So shares up in Paris. 75 00:04:08,320 --> 00:04:12,080 Speaker 2: On the news this one the Stock Movers Report from 76 00:04:12,120 --> 00:04:15,200 Speaker 2: Bloomberg Radio. Check back with us throughout the day for 77 00:04:15,280 --> 00:04:18,400 Speaker 2: the latest roundup of companies making news on Wall Street 78 00:04:18,680 --> 00:04:22,159 Speaker 2: and for the latest market moving headlines. Listen to Bloomberg 79 00:04:22,279 --> 00:04:25,880 Speaker 2: Radio Live, catch us on YouTube, Bloomberg dot com, and 80 00:04:26,040 --> 00:04:29,679 Speaker 2: on Applecarplay and Android Auto with the Bloomberg Business app.