1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,520 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg data. 4 00:00:16,760 --> 00:00:18,119 Speaker 2: Let's have a look at some of the stocks on 5 00:00:18,160 --> 00:00:20,520 Speaker 2: the move today here in Europe. I'm Caroline Hepkin. I'm 6 00:00:20,560 --> 00:00:22,840 Speaker 2: joined by Blueberg with Reported Tuba at a Baio Tuba. 7 00:00:22,960 --> 00:00:27,320 Speaker 2: Good morning, So let's talk about Rio Tinto. Is this 8 00:00:27,480 --> 00:00:30,320 Speaker 2: the result of the Iran war? What's been happening? 9 00:00:30,800 --> 00:00:34,720 Speaker 3: Well, we are watching European writing shares more broadly after 10 00:00:34,920 --> 00:00:38,000 Speaker 3: the weekend strikes by Iran on aluminium plants in the 11 00:00:38,120 --> 00:00:41,839 Speaker 3: UAE and buff Rain. The latest activity there is it's 12 00:00:41,840 --> 00:00:44,240 Speaker 3: thought that it could send what is currently a very 13 00:00:44,280 --> 00:00:48,919 Speaker 3: fragile market into crisis. That's by raising the chances of 14 00:00:49,159 --> 00:00:52,360 Speaker 3: record prices for aluminum. We did see aliminium futures on 15 00:00:52,400 --> 00:00:55,160 Speaker 3: the London Metal Exchange surge this morning by the most 16 00:00:55,200 --> 00:00:59,880 Speaker 3: since twenty twenty four. But in terms of Rio Tinto specifically, 17 00:01:00,080 --> 00:01:02,000 Speaker 3: they are up as much as four point four percent 18 00:01:02,040 --> 00:01:05,520 Speaker 3: this morning. Some of that is actually tied to their 19 00:01:05,560 --> 00:01:09,600 Speaker 3: announcement about operations at a key port in Western Australia 20 00:01:10,080 --> 00:01:12,880 Speaker 3: that facility had been affected by a tropical cyclone, but 21 00:01:12,920 --> 00:01:15,160 Speaker 3: they're saying this morning that shipping there is expected to 22 00:01:15,200 --> 00:01:18,160 Speaker 3: resume in the coming days. It is part of a 23 00:01:18,200 --> 00:01:21,680 Speaker 3: wider problem for the sector. It's that recent weather events 24 00:01:22,200 --> 00:01:25,840 Speaker 3: have impacted iron or shipments by eight million tons. There 25 00:01:26,000 --> 00:01:28,920 Speaker 3: was a previous storm in February which made an impact too. 26 00:01:29,319 --> 00:01:31,240 Speaker 3: But the positive for Rio Tinto is it looks like 27 00:01:31,319 --> 00:01:34,800 Speaker 3: full service will be resumed soon, so it moves on that. 28 00:01:34,880 --> 00:01:38,760 Speaker 3: But also this prospect of higher metals prices after Iran 29 00:01:38,840 --> 00:01:41,360 Speaker 3: strikes on those facilities over the weekend, So something to 30 00:01:41,400 --> 00:01:42,440 Speaker 3: watch in the coming days. 31 00:01:42,920 --> 00:01:46,520 Speaker 2: Yeah. Absolutely. You're seeing other movers like Norse, Chaiedro and 32 00:01:46,640 --> 00:01:50,880 Speaker 2: glen Core also up this morning on similar themes. We've 33 00:01:50,920 --> 00:01:54,920 Speaker 2: seen gains for Sedexo. What is behind that move? 34 00:01:55,640 --> 00:01:58,560 Speaker 3: If you're not aware Sdexo is it a food services 35 00:01:58,600 --> 00:02:03,520 Speaker 3: company offers everything and facilities management to employee benefit solutions. 36 00:02:03,520 --> 00:02:05,520 Speaker 3: Those of us that have worked on the continent might 37 00:02:05,560 --> 00:02:07,600 Speaker 3: be familiar with the Sadexo cars. I think they've now 38 00:02:07,600 --> 00:02:10,840 Speaker 3: rebranded issued by your workplace, which you can use for 39 00:02:10,880 --> 00:02:13,960 Speaker 3: groceries and other things. Anyway, they're up over four percent 40 00:02:14,040 --> 00:02:17,239 Speaker 3: this morning and that's actually after an upgrade from analysts 41 00:02:17,240 --> 00:02:21,079 Speaker 3: at Jeffries. Now, the thinking here is that Sdexo's upcoming 42 00:02:21,120 --> 00:02:24,560 Speaker 3: results and also their capital markets day will sort of 43 00:02:24,560 --> 00:02:28,560 Speaker 3: provide an opportunity for a reset, so to sort of 44 00:02:28,600 --> 00:02:34,080 Speaker 3: recharge invested expectations before hoping to build momentum. The note 45 00:02:34,080 --> 00:02:37,880 Speaker 3: from Jeffries says the firm is setting a realistic framework 46 00:02:38,320 --> 00:02:41,399 Speaker 3: and building a track record of consistent delivery. They say 47 00:02:41,400 --> 00:02:44,240 Speaker 3: this is going to be vital if the stock is 48 00:02:44,360 --> 00:02:47,559 Speaker 3: to rerate, so perhaps they are on track for improvement. 49 00:02:48,160 --> 00:02:50,640 Speaker 3: The note also does welcome the appointment of the firm's 50 00:02:50,680 --> 00:02:54,840 Speaker 3: first ever external CEO, which happened in October. So certainly 51 00:02:54,919 --> 00:02:58,200 Speaker 3: for Jeffries, Sadexo is one to watch over the coming 52 00:02:58,200 --> 00:03:00,920 Speaker 3: weeks and months, and it's does seem like it's also 53 00:03:01,000 --> 00:03:03,040 Speaker 3: caught the attention of investors this morning. 54 00:03:03,680 --> 00:03:08,360 Speaker 2: Interesting and then lastly we jumped to Boohoo. They have 55 00:03:08,400 --> 00:03:11,520 Speaker 2: announced results this morning. This is the fashion brand. 56 00:03:11,680 --> 00:03:13,560 Speaker 3: Yes, so it's a bit of a change of pace 57 00:03:13,600 --> 00:03:17,040 Speaker 3: here for boo who we heard a lot about their 58 00:03:17,120 --> 00:03:21,960 Speaker 3: struggles in recent months, but today they have exceeded their 59 00:03:21,960 --> 00:03:25,200 Speaker 3: ebit DAR guidance for the year ending February twenty twenty six. 60 00:03:25,280 --> 00:03:28,840 Speaker 3: It's a thirty six percent increase from last year in 61 00:03:28,960 --> 00:03:31,399 Speaker 3: terms of that metric. But as I mentioned, we've heard 62 00:03:31,440 --> 00:03:34,639 Speaker 3: lots about how this business has been struggling. It's experienced 63 00:03:34,680 --> 00:03:38,200 Speaker 3: record losses and ninety five percent share dropped since twenty twenty. 64 00:03:38,560 --> 00:03:41,400 Speaker 3: It was acquired by Debenhams in twenty twenty one, but 65 00:03:41,560 --> 00:03:44,480 Speaker 3: this latest set of results is perhaps evidence that their 66 00:03:44,480 --> 00:03:47,760 Speaker 3: turnaround plan might be working. It shares up as much 67 00:03:47,800 --> 00:03:51,120 Speaker 3: as six point seven percent this morning. One analyst from 68 00:03:51,360 --> 00:03:54,120 Speaker 3: Panma Librum is saying that much of the hard work 69 00:03:54,200 --> 00:03:57,400 Speaker 3: to transform this business has now been done as complete 70 00:03:57,520 --> 00:04:00,520 Speaker 3: and that the green shoots are evident. Oay, We'll keep 71 00:04:00,520 --> 00:04:03,240 Speaker 3: an eye on Boohoo, but a positive reaction from the 72 00:04:03,280 --> 00:04:04,280 Speaker 3: market this morning. 73 00:04:04,960 --> 00:04:09,200 Speaker 1: The Stockmover's report from Bloomberg Radio. Check back with us 74 00:04:09,200 --> 00:04:12,040 Speaker 1: throughout the day for the latest roundup of companies making 75 00:04:12,080 --> 00:04:15,720 Speaker 1: news on Wall Street and for the latest market moving headlines. 76 00:04:15,920 --> 00:04:19,919 Speaker 1: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 77 00:04:19,960 --> 00:04:23,039 Speaker 1: dot com, and on Applecarplay and Android Auto with the 78 00:04:23,080 --> 00:04:24,440 Speaker 1: Bloomberg Business app.