WEBVTT - BP Writedowns, Hays Drop, EssilorLuxottica Gain

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

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

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

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<v Speaker 3>Let's take a look at some stocks on the move

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<v Speaker 3>today in Europe. I'm Stephen Carroll with Lizzie Burton and

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<v Speaker 3>we're joined by Bloomberg's Breaking News editor at Louise Mean

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<v Speaker 3>and Louise. Good morning BP. Let's start there continuing to

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<v Speaker 3>prove that green is not the new black tell us more.

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<v Speaker 1>Indeed, Yes so, BP and a quite an unexpected announcement

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<v Speaker 1>this morning, saying they're expecting to take a four to

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<v Speaker 1>five billion dollar right down in the fourth quarter. Alongside

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<v Speaker 1>the news, they also said that oil trading was set

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<v Speaker 1>to be quite weak in their words, for another quarter

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<v Speaker 1>and production will be flat. But the main thing that's

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<v Speaker 1>been focused on are these impairment charges and this is

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<v Speaker 1>all linked to what they call their transition business, which

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<v Speaker 1>is essentially it's gas and green energy investments, in particular

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<v Speaker 1>the green energy. Of course, this comes as BP is

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<v Speaker 1>pivoting away from green energy. They've been it was a

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<v Speaker 1>failed bet, and you know that they're now moving towards

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<v Speaker 1>towards back towards their core of oil and gas. So

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<v Speaker 1>it's a major reset and a big charge that's coming

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<v Speaker 1>as a part of that. Of course, they only appointed

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<v Speaker 1>or named who's going to be their new incoming CEO

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<v Speaker 1>last month, so she's got this meg O'Neil. She's got

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<v Speaker 1>a lot to deal with, but she's known for having

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<v Speaker 1>she's coming from Australia's Woodside Energy Group and she's known

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<v Speaker 1>for having a clear focus on oil and gas. Of course,

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<v Speaker 1>that change in leadership was quite a sudden change. The

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<v Speaker 1>x CEO had had started to embark on a major reset,

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<v Speaker 1>but investors wanted more. So shares a down on the

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<v Speaker 1>news this morning and lesser expecting a worse fourth quarter

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<v Speaker 1>than they had previously estimated, and all focused around these

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<v Speaker 1>impairment charges. And as I say, as the new CEO

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<v Speaker 1>comes in, I think she's coming in in March or

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<v Speaker 1>April time. A lot to deal with with this reset

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<v Speaker 1>going on now, Laurise, we love us first on stock movers,

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<v Speaker 1>some bright spark has calculated that this is the first

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<v Speaker 1>time Hayes is trading this low in your entire lifetime,

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<v Speaker 1>exposing my age. Indeed, well, yeah, Hayes shares have dropped

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<v Speaker 1>to their lower since nineteen ninety three, so you can

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<v Speaker 1>take from that what you will. I mean, they are

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<v Speaker 1>moving lower this morning, but it's extending declines that we've

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<v Speaker 1>been seeing anyway. They're down about thirty percent over the

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<v Speaker 1>past year. If you look even further back, it's a

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<v Speaker 1>real kind of steep decline and way off a peak

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<v Speaker 1>which is years ago. Now this is after their second

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<v Speaker 1>quarter earning, so they've seen a ten percent reduction in fees,

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<v Speaker 1>worse than expected. Permanent hiring in particular is doing very

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<v Speaker 1>badly and it's adding to this woeful picture for the

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<v Speaker 1>whole of the recruitment industry. Really, we already had Page

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<v Speaker 1>Group results earlier this week. We've got Robert Waters reporting tomorrow.

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<v Speaker 1>Essentially the industry is continuing it's already been happening, but

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<v Speaker 1>continuing to struggle with you know, the likes of the

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<v Speaker 1>rise of AI and this is also being worsened by

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<v Speaker 1>the current tough jobs market in the UK. So not

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<v Speaker 1>a great picture for recruitment and Hayes really accentuating that

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<v Speaker 1>this morning with their second quarter results.

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<v Speaker 3>We've also had news for on Esla and Lexataka, Louise

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<v Speaker 3>HSBC seeing them in a new Light.

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<v Speaker 1>Indeed, shares up in Paris this morning on the back

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<v Speaker 1>of HSPC raising their recommendation from a hold to a buy.

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<v Speaker 1>And this is all due to what they're saying. It's

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<v Speaker 1>due to the growth in smart glasses. So we had

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<v Speaker 1>a story yesterday saying that the company's in talks with

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<v Speaker 1>Meta about potentially doubling production capacity for AI powered smart

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<v Speaker 1>glasses by the end of the year. So this is

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<v Speaker 1>on the back of growing demand and HBC are saying

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<v Speaker 1>that they're benefiting from this Meta R and D, this

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<v Speaker 1>research and development from Meta making them more competitive against rivals,

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<v Speaker 1>raising their total addressable market. If you look at their

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<v Speaker 1>total anless ratings, I mean they've got twenty one buys,

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<v Speaker 1>far up pacing anything else only four holes in two cells.

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<v Speaker 1>So shares up in Paris.

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<v Speaker 2>On the news this one the Stock Movers Report from

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<v Speaker 2>Bloomberg Radio. Check back with us throughout the day for

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