Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg data.
Speaker 2: Let's have a look at some of the stocks on
Speaker 2: the move today here in Europe. I'm Caroline Hepkin. I'm
Speaker 2: joined by Blueberg with Reported Tuba at a Baio Tuba.
Speaker 2: Good morning, So let's talk about Rio Tinto. Is this
Speaker 2: the result of the Iran war? What's been happening?
Speaker 3: Well, we are watching European writing shares more broadly after
Speaker 3: the weekend strikes by Iran on aluminium plants in the
Speaker 3: UAE and buff Rain. The latest activity there is it's
Speaker 3: thought that it could send what is currently a very
Speaker 3: fragile market into crisis. That's by raising the chances of
Speaker 3: record prices for aluminum. We did see aliminium futures on
Speaker 3: the London Metal Exchange surge this morning by the most
Speaker 3: since twenty twenty four. But in terms of Rio Tinto specifically,
Speaker 3: they are up as much as four point four percent
Speaker 3: this morning. Some of that is actually tied to their
Speaker 3: announcement about operations at a key port in Western Australia
Speaker 3: that facility had been affected by a tropical cyclone, but
Speaker 3: they're saying this morning that shipping there is expected to
Speaker 3: resume in the coming days. It is part of a
Speaker 3: wider problem for the sector. It's that recent weather events
Speaker 3: have impacted iron or shipments by eight million tons. There
Speaker 3: was a previous storm in February which made an impact too.
Speaker 3: But the positive for Rio Tinto is it looks like
Speaker 3: full service will be resumed soon, so it moves on that.
Speaker 3: But also this prospect of higher metals prices after Iran
Speaker 3: strikes on those facilities over the weekend, So something to
Speaker 3: watch in the coming days.
Speaker 2: Yeah. Absolutely. You're seeing other movers like Norse, Chaiedro and
Speaker 2: glen Core also up this morning on similar themes. We've
Speaker 2: seen gains for Sedexo. What is behind that move?
Speaker 3: If you're not aware Sdexo is it a food services
Speaker 3: company offers everything and facilities management to employee benefit solutions.
Speaker 3: Those of us that have worked on the continent might
Speaker 3: be familiar with the Sadexo cars. I think they've now
Speaker 3: rebranded issued by your workplace, which you can use for
Speaker 3: groceries and other things. Anyway, they're up over four percent
Speaker 3: this morning and that's actually after an upgrade from analysts
Speaker 3: at Jeffries. Now, the thinking here is that Sdexo's upcoming
Speaker 3: results and also their capital markets day will sort of
Speaker 3: provide an opportunity for a reset, so to sort of
Speaker 3: recharge invested expectations before hoping to build momentum. The note
Speaker 3: from Jeffries says the firm is setting a realistic framework
Speaker 3: and building a track record of consistent delivery. They say
Speaker 3: this is going to be vital if the stock is
Speaker 3: to rerate, so perhaps they are on track for improvement.
Speaker 3: The note also does welcome the appointment of the firm's
Speaker 3: first ever external CEO, which happened in October. So certainly
Speaker 3: for Jeffries, Sadexo is one to watch over the coming
Speaker 3: weeks and months, and it's does seem like it's also
Speaker 3: caught the attention of investors this morning.
Speaker 2: Interesting and then lastly we jumped to Boohoo. They have
Speaker 2: announced results this morning. This is the fashion brand.
Speaker 3: Yes, so it's a bit of a change of pace
Speaker 3: here for boo who we heard a lot about their
Speaker 3: struggles in recent months, but today they have exceeded their
Speaker 3: ebit DAR guidance for the year ending February twenty twenty six.
Speaker 3: It's a thirty six percent increase from last year in
Speaker 3: terms of that metric. But as I mentioned, we've heard
Speaker 3: lots about how this business has been struggling. It's experienced
Speaker 3: record losses and ninety five percent share dropped since twenty twenty.
Speaker 3: It was acquired by Debenhams in twenty twenty one, but
Speaker 3: this latest set of results is perhaps evidence that their
Speaker 3: turnaround plan might be working. It shares up as much
Speaker 3: as six point seven percent this morning. One analyst from
Speaker 3: Panma Librum is saying that much of the hard work
Speaker 3: to transform this business has now been done as complete
Speaker 3: and that the green shoots are evident. Oay, We'll keep
Speaker 3: an eye on Boohoo, but a positive reaction from the
Speaker 3: market this morning.
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