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 1: Now, let's take a look at some of the stocks
Speaker 1: on the move today in Europe. I'm Lizzie Vernon in
Speaker 1: London with Stephen Carroll in Brussels, and we're joined by
Speaker 1: our Bloomberg reporter, Chloe Melee. Chloe, I want to start
Speaker 1: with Eirbus this morning, shares up the most in eleven weeks.
Speaker 3: What's behind that?
Speaker 4: Yeah, So EBS outlined some very new ambitious targets yesterday
Speaker 4: and so it plans a five billion euro buyback and
Speaker 4: then a doubling of profit as well over the next
Speaker 4: three years. And it reassured investors that a lot of
Speaker 4: the production issues that they had been facing over the
Speaker 4: last few months, including engine problems and then shortages of
Speaker 4: some parts as well, which really plagues operation for Ebbus,
Speaker 4: that all of those issues were now getting sorted out
Speaker 4: and that output will then be ramped up in So
Speaker 4: this was seen as very positive from investors after a
Speaker 4: lot of weakness actually in the shares for Airbus recently.
Speaker 4: With JP Morgan analysts saying that the company had delivered
Speaker 4: on all of the things that were needed for it
Speaker 4: to rally, and it did rally. Indeed this morning they
Speaker 4: said in particular that what was really reassuring was that
Speaker 4: the company had been able to provide very clear medium
Speaker 4: term guidance. And so this is obviously the visibility that
Speaker 4: investors needed, the confidence from management that they were looking
Speaker 4: for as well, and that has been very helpful. And
Speaker 4: of course the buyback, although some and as have said
Speaker 4: it sits at the lower end of expectations, this is
Speaker 4: a shareholder return that's always very welcome. So this has
Speaker 4: very much boosted the stock this morning after this long
Speaker 4: period of underperformance compared to its closest rival, Boeing.
Speaker 3: Of course, okay, well from planes to people, we've had
Speaker 3: an update from Brandstad and the results are positive.
Speaker 4: Yeah, it's really another sign that we've got this earning
Speaker 4: season of maybe the recruitment sector getting back on track.
Speaker 3: So Ranstad Besimus.
Speaker 4: This morning and the performance was good really across several markets,
Speaker 4: and this echoes positive results that we had from Manpower
Speaker 4: in the US, but then also Hayes and Page Group
Speaker 4: over here in the UK. And so this seems to
Speaker 4: indicate that after maybe you know, all of that weakness,
Speaker 4: those years and years of weakness in the industry, things
Speaker 4: might start to be looking up for the sector. Perhaps
Speaker 4: businesses are regaining some of that confidence are no longer
Speaker 4: putting their hiring plans on hold. Of course, the recovery
Speaker 4: isn't exactly the same across all markets. I actually spoke
Speaker 4: to the CEO of another equipment company yesterday s three,
Speaker 4: and he told me that although Europe is slowly getting
Speaker 4: back on track, it's still quite weak and the company
Speaker 4: has had to really shift this strategy towards other markets
Speaker 4: that are doing much better, like the US and Japan
Speaker 4: in particular. And this actually fits with what we're hearing
Speaker 4: from Ransad this morning, with North America being a really
Speaker 4: bright spot for the company.
Speaker 3: So a recovery, but not a broad bait one just yet.
Speaker 1: And clo ending on weather Spoons issuing it is fourth
Speaker 1: profit warning this year. Surely that quarter can't have included
Speaker 1: the World.
Speaker 4: Car Well, it did, so the World Cup actually did
Speaker 4: not provide as big of a boost as they had hoped,
Speaker 4: and that is because higher costs just offset the boosts
Speaker 4: from this the matches, So as you said, Spoons issued
Speaker 4: that fourth profit warning so far this year. We did
Speaker 4: see some consumer confidence getting back into the UK economy
Speaker 4: in June, with lots of people buying pines in pubs
Speaker 4: to support the England team. But the chairman, Tim Martin
Speaker 4: actually said that the timing of some of the matches
Speaker 4: meant that it encouraged home consumption instead with of course
Speaker 4: those you know ten pm even two am games that
Speaker 4: we saw, and at the same time, costs remained very high.
Speaker 4: That's the thing that Spoons has been mentioning now for
Speaker 4: quite a few months that there's you know, the higher
Speaker 4: taxes for hospitality, there's a higher energy costs of course
Speaker 4: because of the Iran war, and those higher labor costs
Speaker 4: after the budget from year and all of that is
Speaker 4: wearing very massively on margins and so.
Speaker 3: That is why we had this profit warning.
Speaker 4: So if even a World Cup cannot help, then that
Speaker 4: looks like quite a dire situation for all of the pubs. Really.
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