1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,640 --> 00:00:18,000 Speaker 3: Let's take a look at some of the stocks on 5 00:00:18,040 --> 00:00:20,040 Speaker 3: the move today here in Europe. I'm Caroline Hepget and 6 00:00:20,079 --> 00:00:23,560 Speaker 3: we're joined by Bluebeg's breaking news editor Louise Move. Good morning, 7 00:00:23,600 --> 00:00:27,080 Speaker 3: Louise ab and amro. Their new CEO has got some 8 00:00:27,200 --> 00:00:30,080 Speaker 3: quite dramatic plans for the business try to bring in 9 00:00:30,120 --> 00:00:34,959 Speaker 3: greater profitability. How are market's reacting quite positively this morning. It's, 10 00:00:35,000 --> 00:00:37,279 Speaker 3: as you say, it's very dramatic. So plans to cut 11 00:00:37,320 --> 00:00:40,559 Speaker 3: about twenty percent of the workforce. So that's a net 12 00:00:40,560 --> 00:00:43,600 Speaker 3: reduction of over five thousand full time roles against the 13 00:00:43,640 --> 00:00:44,800 Speaker 3: headcount from last. 14 00:00:44,640 --> 00:00:46,360 Speaker 4: Year, and that's over the next three years. 15 00:00:46,360 --> 00:00:48,640 Speaker 1: That's just one of one of the measures that kind 16 00:00:48,680 --> 00:00:51,559 Speaker 1: of being announced this morning. She joined in April, and 17 00:00:52,040 --> 00:00:55,520 Speaker 1: essentially she's already started on a few measures and this 18 00:00:55,560 --> 00:00:58,480 Speaker 1: is more really really pushing into that turnaround to try 19 00:00:58,480 --> 00:01:01,320 Speaker 1: and boost profitability. Of the other things that they were 20 00:01:01,320 --> 00:01:03,880 Speaker 1: saying this morning was aiming to boost the return on 21 00:01:03,960 --> 00:01:06,560 Speaker 1: equity to at least twelve percent by twenty twenty eight, 22 00:01:06,959 --> 00:01:10,080 Speaker 1: targeting a cost income ratio below fifty five percent. They 23 00:01:10,080 --> 00:01:13,160 Speaker 1: also sold their personal loan business, so a whole host 24 00:01:13,160 --> 00:01:16,039 Speaker 1: of things and as I say, shares rising on this, 25 00:01:16,200 --> 00:01:19,760 Speaker 1: extending fast gains already this year, so seeming that markets 26 00:01:19,800 --> 00:01:22,960 Speaker 1: are reacting positively. There's a quote from the CEO saying, 27 00:01:23,240 --> 00:01:25,040 Speaker 1: we know that more must be done to enhance our 28 00:01:25,040 --> 00:01:26,800 Speaker 1: returns and competitiveness. 29 00:01:26,800 --> 00:01:29,479 Speaker 4: So appealing to the market with those changes this morning. 30 00:01:29,560 --> 00:01:34,160 Speaker 3: Yeah, that's sir margheriteberas French executive. Looks like a new 31 00:01:34,200 --> 00:01:38,679 Speaker 3: broom at abn am ro Okay, So that's one stock. 32 00:01:39,319 --> 00:01:45,960 Speaker 3: Rachel Reeves putting money, people putting money into their current 33 00:01:46,000 --> 00:01:49,280 Speaker 3: account into Iser's UK bank shares. 34 00:01:49,480 --> 00:01:50,880 Speaker 4: Moving ahead of the budgets. 35 00:01:51,200 --> 00:01:55,320 Speaker 1: Yeah, So there's been a lot of worries about Rachery's 36 00:01:55,400 --> 00:01:58,200 Speaker 1: kind of a bit bit of a raid on banks, 37 00:01:58,360 --> 00:02:03,520 Speaker 1: So higher taxes on banks in the budget that's been 38 00:02:03,600 --> 00:02:06,880 Speaker 1: hitting banks over the last few months, you know. And 39 00:02:06,920 --> 00:02:09,399 Speaker 1: then there's been months of these banks arguing that more 40 00:02:09,440 --> 00:02:13,600 Speaker 1: taxes would be counterintuitive to keeping the financial sector competitive internationally. 41 00:02:14,400 --> 00:02:18,120 Speaker 1: There was a report this morning overnight that the sector 42 00:02:18,160 --> 00:02:20,160 Speaker 1: would be spared so that won't happen, So these worries 43 00:02:20,160 --> 00:02:21,680 Speaker 1: are easing, shares. 44 00:02:21,400 --> 00:02:22,200 Speaker 4: Rising on the back of that. 45 00:02:22,240 --> 00:02:24,359 Speaker 1: So we've got the likes of Barclay's, Lloyd's now we're 46 00:02:24,520 --> 00:02:27,480 Speaker 1: all gaining by about three percent this morning. So those 47 00:02:27,520 --> 00:02:33,280 Speaker 1: worries easing for the budget tomorrow, okay, and it's been 48 00:02:33,320 --> 00:02:36,120 Speaker 1: early in the week. But also anything about pubs, Yes, 49 00:02:36,320 --> 00:02:38,280 Speaker 1: Marston's I thought i'd end on a bit of a 50 00:02:38,320 --> 00:02:41,560 Speaker 1: positive note looking ahead of Christmas. A month now until Christmas, 51 00:02:41,600 --> 00:02:43,760 Speaker 1: and Martin's giving a bit of a Christmas cheer this morning. 52 00:02:44,000 --> 00:02:46,280 Speaker 1: So they're saying that bookings for the Christmas season are 53 00:02:46,320 --> 00:02:49,080 Speaker 1: eleven percent ahead of last year. They're saying cost pressures 54 00:02:49,080 --> 00:02:52,560 Speaker 1: are manageable, and they're looking ahead and quite positive to 55 00:02:52,560 --> 00:02:54,840 Speaker 1: what they call demand driving events for next year, so 56 00:02:54,919 --> 00:02:57,640 Speaker 1: like the World Cup coming next year. So shares jumped 57 00:02:57,639 --> 00:02:59,760 Speaker 1: to a three year high this morning, up about twelve percent. 58 00:02:59,800 --> 00:03:03,000 Speaker 1: So and List is saying they're making strong strategic progress. 59 00:03:03,080 --> 00:03:07,240 Speaker 4: Marstons have been implementing a lot of change new pub formats. 60 00:03:08,280 --> 00:03:10,600 Speaker 1: Interestingly, they've been using a labor model, so it uses 61 00:03:10,639 --> 00:03:12,640 Speaker 1: AI to forecast busy times at the pubs and they 62 00:03:12,639 --> 00:03:15,880 Speaker 1: can get correct staffing levels, and they've also been putting 63 00:03:15,880 --> 00:03:17,280 Speaker 1: on events like dance tournaments. 64 00:03:17,320 --> 00:03:19,919 Speaker 4: Carriok that kind of thing. So positive, Marstons. 65 00:03:19,919 --> 00:03:25,320 Speaker 2: This morning the Stock Movers Report from Bloomberg Radio. 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