WEBVTT - Rio Tinto Jumps, Sodexo Gains, Boohoo Rises 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data.

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<v Speaker 2>Let's have a look at some of the stocks on

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<v Speaker 2>the move today here in Europe. I'm Caroline Hepkin. I'm

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<v Speaker 2>joined by Blueberg with Reported Tuba at a Baio Tuba.

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<v Speaker 2>Good morning, So let's talk about Rio Tinto. Is this

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<v Speaker 2>the result of the Iran war? What's been happening?

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<v Speaker 3>Well, we are watching European writing shares more broadly after

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<v Speaker 3>the weekend strikes by Iran on aluminium plants in the

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<v Speaker 3>UAE and buff Rain. The latest activity there is it's

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<v Speaker 3>thought that it could send what is currently a very

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<v Speaker 3>fragile market into crisis. That's by raising the chances of

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<v Speaker 3>record prices for aluminum. We did see aliminium futures on

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<v Speaker 3>the London Metal Exchange surge this morning by the most

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<v Speaker 3>since twenty twenty four. But in terms of Rio Tinto specifically,

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<v Speaker 3>they are up as much as four point four percent

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<v Speaker 3>this morning. Some of that is actually tied to their

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<v Speaker 3>announcement about operations at a key port in Western Australia

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<v Speaker 3>that facility had been affected by a tropical cyclone, but

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<v Speaker 3>they're saying this morning that shipping there is expected to

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<v Speaker 3>resume in the coming days. It is part of a

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<v Speaker 3>wider problem for the sector. It's that recent weather events

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<v Speaker 3>have impacted iron or shipments by eight million tons. There

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<v Speaker 3>was a previous storm in February which made an impact too.

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<v Speaker 3>But the positive for Rio Tinto is it looks like

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<v Speaker 3>full service will be resumed soon, so it moves on that.

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<v Speaker 3>But also this prospect of higher metals prices after Iran

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<v Speaker 3>strikes on those facilities over the weekend, So something to

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<v Speaker 3>watch in the coming days.

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<v Speaker 2>Yeah. Absolutely. You're seeing other movers like Norse, Chaiedro and

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<v Speaker 2>glen Core also up this morning on similar themes. We've

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<v Speaker 2>seen gains for Sedexo. What is behind that move?

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<v Speaker 3>If you're not aware Sdexo is it a food services

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<v Speaker 3>company offers everything and facilities management to employee benefit solutions.

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<v Speaker 3>Those of us that have worked on the continent might

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<v Speaker 3>be familiar with the Sadexo cars. I think they've now

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<v Speaker 3>rebranded issued by your workplace, which you can use for

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<v Speaker 3>groceries and other things. Anyway, they're up over four percent

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<v Speaker 3>this morning and that's actually after an upgrade from analysts

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<v Speaker 3>at Jeffries. Now, the thinking here is that Sdexo's upcoming

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<v Speaker 3>results and also their capital markets day will sort of

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<v Speaker 3>provide an opportunity for a reset, so to sort of

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<v Speaker 3>recharge invested expectations before hoping to build momentum. The note

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<v Speaker 3>from Jeffries says the firm is setting a realistic framework

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<v Speaker 3>and building a track record of consistent delivery. They say

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<v Speaker 3>this is going to be vital if the stock is

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<v Speaker 3>to rerate, so perhaps they are on track for improvement.

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<v Speaker 3>The note also does welcome the appointment of the firm's

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<v Speaker 3>first ever external CEO, which happened in October. So certainly

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<v Speaker 3>for Jeffries, Sadexo is one to watch over the coming

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<v Speaker 3>weeks and months, and it's does seem like it's also

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<v Speaker 3>caught the attention of investors this morning.

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<v Speaker 2>Interesting and then lastly we jumped to Boohoo. They have

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<v Speaker 2>announced results this morning. This is the fashion brand.

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<v Speaker 3>Yes, so it's a bit of a change of pace

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<v Speaker 3>here for boo who we heard a lot about their

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<v Speaker 3>struggles in recent months, but today they have exceeded their

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<v Speaker 3>ebit DAR guidance for the year ending February twenty twenty six.

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<v Speaker 3>It's a thirty six percent increase from last year in

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<v Speaker 3>terms of that metric. But as I mentioned, we've heard

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<v Speaker 3>lots about how this business has been struggling. It's experienced

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<v Speaker 3>record losses and ninety five percent share dropped since twenty twenty.

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<v Speaker 3>It was acquired by Debenhams in twenty twenty one, but

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<v Speaker 3>this latest set of results is perhaps evidence that their

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<v Speaker 3>turnaround plan might be working. It shares up as much

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<v Speaker 3>as six point seven percent this morning. One analyst from

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<v Speaker 3>Panma Librum is saying that much of the hard work

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<v Speaker 3>to transform this business has now been done as complete

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<v Speaker 3>and that the green shoots are evident. Oay, We'll keep

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<v Speaker 3>an eye on Boohoo, but a positive reaction from the

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<v Speaker 3>market this morning.

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<v Speaker 1>The Stockmover's report from Bloomberg Radio. Check back with us

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