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 1: Let's take a look at some stocks on the move
Speaker 1: today in you. I'm Tom McKenzie with Stephen Carroll and
Speaker 1: we are joined by Bloomberg's Markets Today editor Sam Unstead
Speaker 1: and Sam Vestas Wind Systems up around four percent. That's
Speaker 1: quite a turnaround from the downside pressure that we saw
Speaker 1: on wind turbine makers yesterday. What's going on, Yeah, so
Speaker 1: what we saw yesterday is austed. They ended up dropping
Speaker 1: thirty percent over the course of the day after this
Speaker 1: big rights issue. And that rights issue also was driven
Speaker 1: in part by there being some concern over its US
Speaker 1: business and not being able to sell part of its
Speaker 1: US business, which can then filter across to the rest
Speaker 1: of the industry. Vest Us, which makes wind turb us
Speaker 1: at Orsted runs wind farms. Invest Us makes the wind
Speaker 1: turbines that those farms have much better results, much stronger,
Speaker 1: a lot of reassurance, I suppose more than anything else,
Speaker 1: but orders going up, and so for them, their fundamentals
Speaker 1: are looking a little bit better. And that's allowing investors
Speaker 1: to kind of separate out the vestor story from the
Speaker 1: ousted story.
Speaker 2: So next to spire Acts whilst it is going on
Speaker 2: with them.
Speaker 3: Yeah, I mean spire Axe is a steamflow engineering company.
Speaker 3: Thank you for that, I'm sure times looking up. Perhaps
Speaker 3: not a name that you would know enormously well, but
Speaker 3: a FIRSTY one hundred company for years and years and
Speaker 3: years and very consistent performer. And then the last three
Speaker 3: years they've seen a bit of a dip in demand
Speaker 3: in a lot of their end markets and their shares
Speaker 3: have actually fallen for the last three years in a row.
Speaker 3: Their results today indicate that they may well now have
Speaker 3: hit a turnaround, that the results are a little bit
Speaker 3: better than expected, the outlook is a bit more strong,
Speaker 3: and they're outgrowing the broader industrial market. So their shares
Speaker 3: actually popped about nineteen percent earlier on today, the most ever,
Speaker 3: so not just some reassurance, but like a real sense
Speaker 3: of relief amongst investors.
Speaker 1: And Sam Belway also in the session today, what is
Speaker 1: the story behind.
Speaker 3: Beilwe So UK home builder and the results today not
Speaker 3: spectacular but solid, And I think what you've had over
Speaker 3: the course of this year in the lead up to
Speaker 3: the stamp duty tax changes that happened in the UK
Speaker 3: earlier this year. There was a big spiking activity that
Speaker 3: then came off again. That's kind of what they said
Speaker 3: in their results is that the spring selling season was
Speaker 3: good and then things have softened a little bit from there.
Speaker 3: But they're controlling what they can control quite well, so costs,
Speaker 3: delivering shareholder returns, all of that's going on, and that's
Speaker 3: actually lifting the whole sector a little bit today because
Speaker 3: again there's a kind of sense of reassurance that even
Speaker 3: though activity in the UK housing market remains a little
Speaker 3: bit soft, companies that are performing well and operating well
Speaker 3: can navigate their way through it.
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