1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:18,000 --> 00:00:19,560 Speaker 3: So let's take a look at some of the stocks 5 00:00:19,600 --> 00:00:21,959 Speaker 3: on the move today in Europe. I'm Caline HEPKITKB. 6 00:00:21,960 --> 00:00:22,720 Speaker 1: We are joined by. 7 00:00:22,600 --> 00:00:26,720 Speaker 3: Bloomberg's equity supporter Joe Eastern. Joe, good morning. So then 8 00:00:26,960 --> 00:00:30,200 Speaker 3: we had some data out of BP and their share 9 00:00:30,200 --> 00:00:32,680 Speaker 3: price is actually one of the few that's doing reasonably 10 00:00:32,720 --> 00:00:33,680 Speaker 3: well in Europe. 11 00:00:33,920 --> 00:00:36,400 Speaker 1: Yes, a BP up around two and a half percent 12 00:00:36,520 --> 00:00:39,879 Speaker 1: in London this morning, so quite a decent ou performance 13 00:00:39,880 --> 00:00:42,879 Speaker 1: for that one. So the company reporting at rising at 14 00:00:42,920 --> 00:00:45,919 Speaker 1: production and a strong result in the latest period. They 15 00:00:45,920 --> 00:00:49,360 Speaker 1: are saying that they do expect to see pretty decent growth. 16 00:00:49,360 --> 00:00:51,120 Speaker 1: It is not their quarterly report, but it's a bit 17 00:00:51,159 --> 00:00:54,720 Speaker 1: of an update from them. They do think the three 18 00:00:54,800 --> 00:00:58,440 Speaker 1: month production will be higher versus the first quarter, so 19 00:00:58,480 --> 00:01:01,800 Speaker 1: that's been taken pretty poively. Of course, with the oil 20 00:01:01,800 --> 00:01:04,000 Speaker 1: stocks all about the oil price that's come down so 21 00:01:04,200 --> 00:01:06,960 Speaker 1: much therefore, it's been a bit of an underperforming sector. 22 00:01:07,000 --> 00:01:10,319 Speaker 1: So it's a bit of reprieve four p BP today 23 00:01:10,400 --> 00:01:12,080 Speaker 1: and as I say, we're up around two and a 24 00:01:12,080 --> 00:01:13,640 Speaker 1: half percent for BP in London. 25 00:01:13,880 --> 00:01:17,479 Speaker 3: Yeah, of course, though they still have this big turnaround 26 00:01:17,480 --> 00:01:20,480 Speaker 3: plan that they are enacting that they announced in February, 27 00:01:20,520 --> 00:01:24,520 Speaker 3: so there's still a lot focused on that also. But 28 00:01:24,640 --> 00:01:29,080 Speaker 3: BP positive today at least. Now let's think about the tariffs. 29 00:01:29,080 --> 00:01:31,479 Speaker 3: I mean, BP was perhaps the one story that wasn't 30 00:01:31,520 --> 00:01:36,880 Speaker 3: about tariffs today. Stilantis is down because of this universal 31 00:01:36,920 --> 00:01:37,679 Speaker 3: tariff threat. 32 00:01:38,040 --> 00:01:41,120 Speaker 1: Yeah, so stilland is down pretty significantly, so down almost 33 00:01:41,120 --> 00:01:44,160 Speaker 1: three percent for that one. This, as you say, it's 34 00:01:44,200 --> 00:01:46,720 Speaker 1: the universal comments from Trumps to Trump saying that he 35 00:01:46,720 --> 00:01:51,240 Speaker 1: could potentially slap this extra tariff on most training parts, 36 00:01:51,280 --> 00:01:56,320 Speaker 1: but also specifically the thirty five percent tariff warning that 37 00:01:56,400 --> 00:02:00,840 Speaker 1: he's given on Canadian goods Dealantis actually makes some autos 38 00:02:00,840 --> 00:02:03,680 Speaker 1: in Canada and shifts them over the border into the 39 00:02:03,800 --> 00:02:06,640 Speaker 1: US seals and there, so they would be directly affected 40 00:02:06,640 --> 00:02:09,480 Speaker 1: by that. They also have production down in Mexico, so 41 00:02:09,520 --> 00:02:12,200 Speaker 1: that's kind of tariffs on all sides of the US 42 00:02:12,440 --> 00:02:14,640 Speaker 1: really for them. So that is the weakest of the autos, 43 00:02:14,680 --> 00:02:17,320 Speaker 1: but the entire auto sector kind of taking a hit 44 00:02:17,360 --> 00:02:20,919 Speaker 1: from this, given it is such a tariff exposed sector. 45 00:02:20,960 --> 00:02:24,440 Speaker 1: So We're seeing weakness in Reno, Volvo, Mercedes, BMW, all 46 00:02:24,480 --> 00:02:27,560 Speaker 1: of them a little bit softer tape, Stilantis bearing the 47 00:02:27,560 --> 00:02:28,120 Speaker 1: brunt of it. 48 00:02:28,360 --> 00:02:32,080 Speaker 3: And so that on the auto makers. What about the 49 00:02:32,160 --> 00:02:35,320 Speaker 3: luxury sector also some weakness there this morning? Why? 50 00:02:35,919 --> 00:02:39,120 Speaker 1: Yes, So luxury has been an interesting one. 51 00:02:39,160 --> 00:02:39,440 Speaker 3: Now. 52 00:02:39,919 --> 00:02:41,640 Speaker 1: We kind of saw a bit of a boost yesterday 53 00:02:41,680 --> 00:02:44,280 Speaker 1: because there's a lot of optimism around China potentially doing 54 00:02:44,320 --> 00:02:46,320 Speaker 1: some stimulus and that fed through into the market. But 55 00:02:47,040 --> 00:02:50,120 Speaker 1: analysts out today just being really really bearissed. There's a 56 00:02:50,160 --> 00:02:52,720 Speaker 1: great note out from Bank of America which I've got 57 00:02:52,720 --> 00:02:56,040 Speaker 1: on my screen saying we are worried quote about the 58 00:02:56,120 --> 00:02:59,080 Speaker 1: luxury sector, and they say that they had expected to 59 00:02:59,120 --> 00:03:02,720 Speaker 1: see brands that are announced new creative directors. These are 60 00:03:02,800 --> 00:03:06,400 Speaker 1: companies like Carrying Gucci and also Berbery to see a 61 00:03:06,440 --> 00:03:08,720 Speaker 1: bit of a rebound, but so far we see no 62 00:03:08,800 --> 00:03:13,040 Speaker 1: evidence of this, which makes us increasingly concerned that revenue 63 00:03:13,080 --> 00:03:17,320 Speaker 1: and earnings growth modeled by analysts will be premature, and 64 00:03:17,360 --> 00:03:21,080 Speaker 1: therefore we're seeing significant weakness across the luxury space today, 65 00:03:21,400 --> 00:03:24,840 Speaker 1: seeing Carrying down around three percent, Elvy Matrix down two percent, 66 00:03:25,240 --> 00:03:28,920 Speaker 1: Birbery was weaker, Brunello Cucinelli, which had results last night, 67 00:03:29,000 --> 00:03:32,359 Speaker 1: kind of not doing enough to support the broader sector. 68 00:03:32,480 --> 00:03:36,080 Speaker 1: So analysts becoming really bearish, including Bank of America, also 69 00:03:36,120 --> 00:03:38,160 Speaker 1: Goldman Sachs, and therefore that sector is lower. 70 00:03:39,000 --> 00:03:41,000 Speaker 3: So I vessas didn't read the story that I read 71 00:03:41,000 --> 00:03:43,160 Speaker 3: this morning about the Birken handbag. 72 00:03:42,720 --> 00:03:44,680 Speaker 1: The original of course that. 73 00:03:47,480 --> 00:03:50,440 Speaker 2: Ten million for a bag. 74 00:03:51,120 --> 00:03:52,720 Speaker 1: Yeah, you're not going to You're not going to take 75 00:03:52,720 --> 00:03:54,480 Speaker 1: that on a night out, are you a ten minutes? 76 00:03:54,520 --> 00:03:57,920 Speaker 3: No, it's going into a museum because of course it's 77 00:03:57,920 --> 00:03:59,760 Speaker 3: about the history of fashion and. 78 00:04:00,520 --> 00:04:02,120 Speaker 1: You wuldn't want to lose that one, you know. 79 00:04:03,960 --> 00:04:08,320 Speaker 2: The Stockmovers podcast from Bloomberg Radio. Check back with us 80 00:04:08,360 --> 00:04:11,280 Speaker 2: throughout the day for the latest roundup of companies making 81 00:04:11,360 --> 00:04:14,920 Speaker 2: news on Wall Street and for the latest market moving headlines. 82 00:04:15,080 --> 00:04:19,000 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 83 00:04:19,040 --> 00:04:21,840 Speaker 2: dot com, and on Applecarplay and Android Auto with the 84 00:04:21,880 --> 00:04:23,239 Speaker 2: Bloomberg Business app.