Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move
Speaker 3: today in Europe. I'm Stephen Carroll with Lizzie Burton and
Speaker 3: we're joined by Bloomberg's Breaking News editor at Louise Mean
Speaker 3: and Louise. Good morning BP. Let's start there continuing to
Speaker 3: prove that green is not the new black tell us more.
Speaker 1: Indeed, Yes so, BP and a quite an unexpected announcement
Speaker 1: this morning, saying they're expecting to take a four to
Speaker 1: five billion dollar right down in the fourth quarter. Alongside
Speaker 1: the news, they also said that oil trading was set
Speaker 1: to be quite weak in their words, for another quarter
Speaker 1: and production will be flat. But the main thing that's
Speaker 1: been focused on are these impairment charges and this is
Speaker 1: all linked to what they call their transition business, which
Speaker 1: is essentially it's gas and green energy investments, in particular
Speaker 1: the green energy. Of course, this comes as BP is
Speaker 1: pivoting away from green energy. They've been it was a
Speaker 1: failed bet, and you know that they're now moving towards
Speaker 1: towards back towards their core of oil and gas. So
Speaker 1: it's a major reset and a big charge that's coming
Speaker 1: as a part of that. Of course, they only appointed
Speaker 1: or named who's going to be their new incoming CEO
Speaker 1: last month, so she's got this meg O'Neil. She's got
Speaker 1: a lot to deal with, but she's known for having
Speaker 1: she's coming from Australia's Woodside Energy Group and she's known
Speaker 1: for having a clear focus on oil and gas. Of course,
Speaker 1: that change in leadership was quite a sudden change. The
Speaker 1: x CEO had had started to embark on a major reset,
Speaker 1: but investors wanted more. So shares a down on the
Speaker 1: news this morning and lesser expecting a worse fourth quarter
Speaker 1: than they had previously estimated, and all focused around these
Speaker 1: impairment charges. And as I say, as the new CEO
Speaker 1: comes in, I think she's coming in in March or
Speaker 1: April time. A lot to deal with with this reset
Speaker 1: going on now, Laurise, we love us first on stock movers,
Speaker 1: some bright spark has calculated that this is the first
Speaker 1: time Hayes is trading this low in your entire lifetime,
Speaker 1: exposing my age. Indeed, well, yeah, Hayes shares have dropped
Speaker 1: to their lower since nineteen ninety three, so you can
Speaker 1: take from that what you will. I mean, they are
Speaker 1: moving lower this morning, but it's extending declines that we've
Speaker 1: been seeing anyway. They're down about thirty percent over the
Speaker 1: past year. If you look even further back, it's a
Speaker 1: real kind of steep decline and way off a peak
Speaker 1: which is years ago. Now this is after their second
Speaker 1: quarter earning, so they've seen a ten percent reduction in fees,
Speaker 1: worse than expected. Permanent hiring in particular is doing very
Speaker 1: badly and it's adding to this woeful picture for the
Speaker 1: whole of the recruitment industry. Really, we already had Page
Speaker 1: Group results earlier this week. We've got Robert Waters reporting tomorrow.
Speaker 1: Essentially the industry is continuing it's already been happening, but
Speaker 1: continuing to struggle with you know, the likes of the
Speaker 1: rise of AI and this is also being worsened by
Speaker 1: the current tough jobs market in the UK. So not
Speaker 1: a great picture for recruitment and Hayes really accentuating that
Speaker 1: this morning with their second quarter results.
Speaker 3: We've also had news for on Esla and Lexataka, Louise
Speaker 3: HSBC seeing them in a new Light.
Speaker 1: Indeed, shares up in Paris this morning on the back
Speaker 1: of HSPC raising their recommendation from a hold to a buy.
Speaker 1: And this is all due to what they're saying. It's
Speaker 1: due to the growth in smart glasses. So we had
Speaker 1: a story yesterday saying that the company's in talks with
Speaker 1: Meta about potentially doubling production capacity for AI powered smart
Speaker 1: glasses by the end of the year. So this is
Speaker 1: on the back of growing demand and HBC are saying
Speaker 1: that they're benefiting from this Meta R and D, this
Speaker 1: research and development from Meta making them more competitive against rivals,
Speaker 1: raising their total addressable market. If you look at their
Speaker 1: total anless ratings, I mean they've got twenty one buys,
Speaker 1: far up pacing anything else only four holes in two cells.
Speaker 1: So shares up in Paris.
Speaker 2: On the news this one the Stock Movers Report from
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