Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 2: Let's take a.
Speaker 1: Look at some stocks on the move today in your
Speaker 1: I'm Tom ckenzie with Caroline Hecker and we are joined
Speaker 1: now by Bloomberg Report to Choe Mala Chloe. Let's start
Speaker 1: with Greg's, then an activist investor urging the British food
Speaker 1: chain to cut costs.
Speaker 3: Yeah.
Speaker 2: Absolutely.
Speaker 3: They said that if Greg's doesn't set a minimum of
Speaker 3: twenty million pounds of annual costs that it would make
Speaker 3: it a prime takeover target. So Greg's share price is
Speaker 3: down more than forty percent this year. It's also London's
Speaker 3: most shortened stock, so this additional pressure on that company
Speaker 3: is not surprising. Greg's did say last month that it
Speaker 3: was making progress despite the really challenging market conditions that
Speaker 3: it's finding itself in, but it seems that investors are
Speaker 3: not quite convinced that it is making as much progress
Speaker 3: and that is doing as much as it could do
Speaker 3: to kind of turn things around. The company is struggling
Speaker 3: with rising prices for its raw ingredients and also minimum
Speaker 3: wage increases, and the company had also blamed hot weather
Speaker 3: earlier this year for slower cells. Perhaps it's true that
Speaker 3: people weren't fewer sausage roles during a heat wave, but
Speaker 3: obviously can't do anything about the weather. But now pressure
Speaker 3: is mounting to get other issues that it can control
Speaker 3: under control.
Speaker 4: Okay, so that on Gregg's here in the UK. Bigger
Speaker 4: picture though, in Europe wants to think about defense and
Speaker 4: the German Titan. Ryan Mettal, how is the stock reacting
Speaker 4: because this week, as one of the key European leaders
Speaker 4: has been saying EU leaders that is that this could
Speaker 4: be a pivotal week for diplomacy when it comes to Ukraine.
Speaker 3: Yeah, absolutely so, Ryan Mattel is down this morning. Other
Speaker 3: defense stocks like hand sold and teal Esba across the board.
Speaker 3: Really we are down this morning because US and Ukraine
Speaker 3: negotiators said that they had quite productive discussions on that
Speaker 3: piece deal between US and sorry, between the UN recurrent
Speaker 3: in Russia. There's been no breakthrough yet, but there seems
Speaker 3: to be some progress which is sending those shares down
Speaker 3: across that industry. And now the US Special Envoice Steve
Speaker 3: whitcov is heading to Russia today to continue talks there
Speaker 3: with Russia, and a lot rests on those talks and
Speaker 3: what is actually going to transpire from those. Over the
Speaker 3: last week or so, we have seen defense stocks either
Speaker 3: rally or fall depending on the details emerging from those
Speaker 3: talks and kind of general sentiment about whether or not
Speaker 3: a deal is likely. And right now it seems that
Speaker 3: the narrative is that it's still very delicate, it's still uncertain,
Speaker 3: but there is progress happening, and therefore we seeing that
Speaker 3: weakness across those weapons makers.
Speaker 1: And you have an update as well for US on
Speaker 1: the mining giant fres Nilos Copper hits new records.
Speaker 3: Yeah, so copper reached a record high, and that is
Speaker 3: because of fears around a potential supply crunch. So a
Speaker 3: lot of that has to do with a lot of
Speaker 3: mind disruptions that happened this year and that obviously hurt production.
Speaker 3: That there's less supply and therefore demand is higher. And
Speaker 3: then there's also silver that rose to record high, and
Speaker 3: that is because of expectations of a rate cut in
Speaker 3: the US and lower borering costs usually benefit those precious metals.
Speaker 3: And then also very tight supply for silver. The main
Speaker 3: reason behind that is that that shortage is that there
Speaker 3: was a record amount of silver that flowed into London
Speaker 3: in October to ease a historic squeeze. Then that is,
Speaker 3: London is the world's biggest silver trading hub, and that
Speaker 3: as in turn put other centers under pressure and therefore
Speaker 3: inventories were down and therefore prices we're going up, and
Speaker 3: so minus overall are doing quite well because of copper
Speaker 3: and silver hitting those record highs, and a Fresne in
Speaker 3: particular is doing particularly well because it's a gold and
Speaker 3: silver miners particularly exposed to those movements in silver, and
Speaker 3: therefore it was up quite strongly this morning.
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