Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Now, let's take a look at some of the stocks
Speaker 3: on the move today in Europe. I'm Lizzie Burden with
Speaker 3: Stephen Carroll and were joined by Bloomberg's Breaking News editor
Speaker 3: Louise Moon. Louise, let's start with Standard Chartered. Promising light
Speaker 3: at the end of the tunnel.
Speaker 4: Indeed, yeah, it's not necessarily benefiting their share price too
Speaker 4: much today, kind of fluctuating up and down a bit
Speaker 4: in London this morning and rising over in Hong Kong.
Speaker 4: Obviously sunder Charters is listed in both. This was the
Speaker 4: fourth quarter results, so they were weaker than expected, so
Speaker 4: that side not positive, but as you say, promising things
Speaker 4: are more positive in the future. They gave quite upbeat
Speaker 4: guidance overall. Bloomberg Intelligence says that underscores a solid profitability
Speaker 4: momentum for them, and they also issued a one point
Speaker 4: five billion dollar buy back, so two sets of quite
Speaker 4: good news essentially kind of painting the picture of positivity
Speaker 4: going forward. That's obviously after their CFO quite abruptly left
Speaker 4: earlier this month. He was seen as the inside front
Speaker 4: runner to replace the CEO. Bill Winter's. Bill Winter's obviously
Speaker 4: been there a long term. He's the longest serving boss
Speaker 4: of a UK bank and the and he continues to
Speaker 4: stay exactly so the CFO left at the time on
Speaker 4: the day the shears tumbled quite a bit, kind of
Speaker 4: reversed or slightly unraveled huge gains that Standard Chartered had
Speaker 4: last year. So this update today was kind of seen
Speaker 4: as a bit of a staying the course Standard Chartered,
Speaker 4: you know, positivity going forward. Bill Winter saw the Bloomberg
Speaker 4: TV saying, you know, they're not missing a beat.
Speaker 1: It's full speed ahead.
Speaker 4: They're investing substantially, they're going to set out in new
Speaker 4: strata in May.
Speaker 1: He wants to see it through. As you say, he's
Speaker 1: staying on.
Speaker 4: So, yeah, it seems as though, you know, positivity, but
Speaker 4: Vester's potentially need.
Speaker 1: A bit more convincing here in London as it stands.
Speaker 2: Yeah, indeed, show so nine tens of one percent currently,
Speaker 2: let's go to Spain next and Telefanaica some strengthen key markets,
Speaker 2: helping to offset weakness that they've seen elsewhere.
Speaker 4: Yeah, indeed, they also had their fourth quarter earnings essentially
Speaker 4: kind of came in line as expected, met analyst estimates.
Speaker 4: As you say, so there's growth in Spain and Brazil
Speaker 4: and that helped offset weakness in other European markets, so
Speaker 4: as I say, it came kind of in line. They
Speaker 4: also said that free cash flower this year will be
Speaker 4: about three billion euros, also kind of in line with expectations.
Speaker 4: Shares rose very slightly, but you know, it kind of
Speaker 4: indicates our points to a bit of stability. Having if
Speaker 4: you look back at their stock, they've fallen about fifteen
Speaker 4: percent since they issued a new strategic plan in November
Speaker 4: last year, so it's a bit of even though it's
Speaker 4: in line, it's showing a bit of stability and shares
Speaker 4: rising just slightly on the back of that in morning trading.
Speaker 3: And we've seen some weakness for Unite, an unlikely victim
Speaker 3: of the UK's migration debate across This isn't the Union,
Speaker 3: it's the student accommodation group.
Speaker 4: Yeah, so they have accommodation across the UK for universities predominantly.
Speaker 4: So overall demand fell two kind of key headwinds being one,
Speaker 4: as you say, international demand and two overbuilding in some areas.
Speaker 1: So it's a bit of a mixed set of results.
Speaker 4: So for international applications, they continued assentiity to prove a
Speaker 4: weak spot, so they did grow, but not that well.
Speaker 4: The strength there was China. China was a bit of
Speaker 4: an exception. I think it was bookings for Chinese students
Speaker 4: rose about ten percent to last year. And then aside
Speaker 4: from that, there's some other interesting commentary. They've seen a
Speaker 4: small uptick and students planning to live at home, which
Speaker 4: is quite interesting. And then in terms of the positive
Speaker 4: end of it is that demand was strongest at higher
Speaker 4: quality universities, so UNITE are kind of shifting their portfolio
Speaker 4: to reflect that sty're focusing more on those higher end universe.
Speaker 4: I'd say it was slightly mixed out of results with
Speaker 4: all those different sectors bringing some some interesting kind of
Speaker 4: reflections on what's going on in the in the university world.
Speaker 4: But shares slumped. Barkley saying that NITTOM outlook is challenging.
Speaker 4: JP Morgan saying that the results confirm expectations of a
Speaker 4: bit of a bumpy ride. Are the saying, you know,
Speaker 4: it's enough to maintain quite a cautious stance, So it
Speaker 4: just shows the situation in the university at.
Speaker 1: The moment at how that's reflecting through accommodation.
Speaker 2: Before you know, the Stock Movers report from Bloomberg Radio.
Speaker 2: Check back with us throughout the day for the latest
Speaker 2: roundup of companies making news on Wall Street and for
Speaker 2: the latest market moving headlines. Listen to Bloomberg Radio Live,
Speaker 2: catch us on YouTube, Bloomberg dot com, and on Applecarplay
Speaker 2: and Android Auto with the Bloomberg Business app.