Speaker 1: Bloomberg Audio Studios podcasts, radio news, The.
Speaker 2: Stock Movers podcast, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: So let's take a look at some of the stocks
Speaker 3: on the move today in Europe. I'm Caline HEPKITKB.
Speaker 1: We are joined by.
Speaker 3: Bloomberg's equity supporter Joe Eastern. Joe, good morning. So then
Speaker 3: we had some data out of BP and their share
Speaker 3: price is actually one of the few that's doing reasonably
Speaker 3: well in Europe.
Speaker 1: Yes, a BP up around two and a half percent
Speaker 1: in London this morning, so quite a decent ou performance
Speaker 1: for that one. So the company reporting at rising at
Speaker 1: production and a strong result in the latest period. They
Speaker 1: are saying that they do expect to see pretty decent growth.
Speaker 1: It is not their quarterly report, but it's a bit
Speaker 1: of an update from them. They do think the three
Speaker 1: month production will be higher versus the first quarter, so
Speaker 1: that's been taken pretty poively. Of course, with the oil
Speaker 1: stocks all about the oil price that's come down so
Speaker 1: much therefore, it's been a bit of an underperforming sector.
Speaker 1: So it's a bit of reprieve four p BP today
Speaker 1: and as I say, we're up around two and a
Speaker 1: half percent for BP in London.
Speaker 3: Yeah, of course, though they still have this big turnaround
Speaker 3: plan that they are enacting that they announced in February,
Speaker 3: so there's still a lot focused on that also. But
Speaker 3: BP positive today at least. Now let's think about the tariffs.
Speaker 3: I mean, BP was perhaps the one story that wasn't
Speaker 3: about tariffs today. Stilantis is down because of this universal
Speaker 3: tariff threat.
Speaker 1: Yeah, so stilland is down pretty significantly, so down almost
Speaker 1: three percent for that one. This, as you say, it's
Speaker 1: the universal comments from Trumps to Trump saying that he
Speaker 1: could potentially slap this extra tariff on most training parts,
Speaker 1: but also specifically the thirty five percent tariff warning that
Speaker 1: he's given on Canadian goods Dealantis actually makes some autos
Speaker 1: in Canada and shifts them over the border into the
Speaker 1: US seals and there, so they would be directly affected
Speaker 1: by that. They also have production down in Mexico, so
Speaker 1: that's kind of tariffs on all sides of the US
Speaker 1: really for them. So that is the weakest of the autos,
Speaker 1: but the entire auto sector kind of taking a hit
Speaker 1: from this, given it is such a tariff exposed sector.
Speaker 1: So We're seeing weakness in Reno, Volvo, Mercedes, BMW, all
Speaker 1: of them a little bit softer tape, Stilantis bearing the
Speaker 1: brunt of it.
Speaker 3: And so that on the auto makers. What about the
Speaker 3: luxury sector also some weakness there this morning? Why?
Speaker 1: Yes, So luxury has been an interesting one.
Speaker 3: Now.
Speaker 1: We kind of saw a bit of a boost yesterday
Speaker 1: because there's a lot of optimism around China potentially doing
Speaker 1: some stimulus and that fed through into the market. But
Speaker 1: analysts out today just being really really bearissed. There's a
Speaker 1: great note out from Bank of America which I've got
Speaker 1: on my screen saying we are worried quote about the
Speaker 1: luxury sector, and they say that they had expected to
Speaker 1: see brands that are announced new creative directors. These are
Speaker 1: companies like Carrying Gucci and also Berbery to see a
Speaker 1: bit of a rebound, but so far we see no
Speaker 1: evidence of this, which makes us increasingly concerned that revenue
Speaker 1: and earnings growth modeled by analysts will be premature, and
Speaker 1: therefore we're seeing significant weakness across the luxury space today,
Speaker 1: seeing Carrying down around three percent, Elvy Matrix down two percent,
Speaker 1: Birbery was weaker, Brunello Cucinelli, which had results last night,
Speaker 1: kind of not doing enough to support the broader sector.
Speaker 1: So analysts becoming really bearish, including Bank of America, also
Speaker 1: Goldman Sachs, and therefore that sector is lower.
Speaker 3: So I vessas didn't read the story that I read
Speaker 3: this morning about the Birken handbag.
Speaker 1: The original of course that.
Speaker 2: Ten million for a bag.
Speaker 1: Yeah, you're not going to You're not going to take
Speaker 1: that on a night out, are you a ten minutes?
Speaker 3: No, it's going into a museum because of course it's
Speaker 3: about the history of fashion and.
Speaker 1: You wuldn't want to lose that one, you know.
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