WEBVTT - Adidas Slides, IG Group Falls, Wetherspoon 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>Now, let's take a look at some of the stocks

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<v Speaker 2>on the move today in Europe. I'm Lizzie Burden with

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<v Speaker 2>Stephen Carroll, and we're joined by Bloomberg reporter Josh Gauntwater. Josh,

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<v Speaker 2>happy Friday to you as well. And I want to

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<v Speaker 2>start in sports. We've had some movers among the likes

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<v Speaker 2>of Adidas, Puma, and JD Sports after the Nike results.

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<v Speaker 3>Yeah, so it was a very disappointing update from Nike,

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<v Speaker 3>mostly on the revenue outlook. A vital knowledge analyst described

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<v Speaker 3>it as pretty ugly. Nike shares were down almost 9%

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<v Speaker 3>in post-market trade, and this is now feeding through to

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<v Speaker 3>the European peers, albeit not as much. We've got Adidas

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<v Speaker 3>and Puma down 1% to 2% today, and retailer JD Sports,

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<v Speaker 3>which counts Nike as its largest supplier, is also taking

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<v Speaker 3>a minor hit. Nike is basically expecting slower growth than

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<v Speaker 3>expected this year, and it's actually now on course for

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<v Speaker 3>delivering its worst sales performance since 2020.

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<v Speaker 1>Now, what's driving this?

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<v Speaker 3>Well, there's problems in China where sort of more intense

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<v Speaker 3>local competition is not helping. And also, it's sportswear and

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<v Speaker 3>Jordan brands have also emerged as problem areas. And Nike

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<v Speaker 3>have said that it's going to take at least another

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<v Speaker 3>year for them to recover. So, Nike shares are now

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<v Speaker 3>down over 75% in the last five years. There's a

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<v Speaker 3>lot of work that needs to be done to turn

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<v Speaker 3>the stock around and it doesn't look like it will

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<v Speaker 3>happen anytime soon.

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<v Speaker 1>Okay. So, that's in the sportswear area. Let's turn next

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<v Speaker 1>to financials. IG Group shares plummeting this morning. Yes.

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<v Speaker 3>The trading platform is having its worst day in almost

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<v Speaker 3>a decade, sliding as much as 27% and hitting an

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<v Speaker 3>18-month low. This is after it cut its revenue growth guidance.

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<v Speaker 3>The company's CEO has blamed less supportive market conditions in

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<v Speaker 3>the third quarter. We saw a drop in volatility in

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<v Speaker 3>markets compared to what we saw in the second. And

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<v Speaker 3>it's also seeing lower revenue retention in its over-the-counter business.

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<v Speaker 3>That's the one that deals with contracts for difference and

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<v Speaker 3>spread betting, for example. And as a result of that,

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<v Speaker 3>this is also spooking investors in other companies, mostly IG

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<v Speaker 3>Group's peers. So, plus 500 is down over 11% and

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<v Speaker 3>CMC markets is down over 7%.

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<v Speaker 1>And finally, Wetherspoons.

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<v Speaker 2>A bit early to be talking about Wetherspoons, Josh, but

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<v Speaker 2>the pub chain in focus this morning.

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<v Speaker 1>Yes.

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<v Speaker 3>Well, I did think because it's Friday, it made sense

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<v Speaker 3>to talk about the pubs. You know, Wetherspoon shares are

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<v Speaker 3>up over 8% this morning and trading at their highest

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<v Speaker 3>level since 2022. Now, investors are managing to look past

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<v Speaker 3>some pretty grim numbers for 2026. We saw profits drop

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<v Speaker 3>as costs increased across the board. And the firm actually

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<v Speaker 3>issued several profit warnings throughout the year as well. We've

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<v Speaker 3>seen everything from energy to labor expenses rise. But instead,

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<v Speaker 3>markets this morning are focusing on a strong start to

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<v Speaker 3>the new year. The summer heat wave has managed to

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<v Speaker 3>drive people to go for a pint. We saw like-for-like

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<v Speaker 3>sales increase by an impressive 8.6% in the last nine weeks.

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<v Speaker 3>And it continues to navigate a challenging market. In fact,

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<v Speaker 3>Wetherspoons has actually outperformed the broader market for 48 consecutive

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<v Speaker 3>months now. But still, you know, like I say, those

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<v Speaker 3>rising costs, the fact that weather is changing and also

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<v Speaker 3>the upcoming UK budget means it's not all rosy for

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<v Speaker 3>Weatherspoons going forward. But confidence in meeting market expectations this

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<v Speaker 3>year was enough to bolster the shares today.

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