1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,840 --> 00:00:18,840 Speaker 1: Let's take a look at some of the stocks on 5 00:00:18,840 --> 00:00:22,119 Speaker 1: the move today in your I'm Tom McKenzie with Caroline Hepkack. 6 00:00:22,120 --> 00:00:24,560 Speaker 1: We're join now by Bloomberg reporter Chloe Mellie. Chloe. Let's 7 00:00:24,560 --> 00:00:26,720 Speaker 1: start with BNP Power by the French lender, then the 8 00:00:26,760 --> 00:00:29,040 Speaker 1: French investment bank, and they seem to be enjoying a 9 00:00:29,160 --> 00:00:31,080 Speaker 1: buyback bonanza this morning. 10 00:00:31,200 --> 00:00:33,519 Speaker 3: Yeah, absolutely, So they unveiled a new buy back of 11 00:00:33,680 --> 00:00:36,960 Speaker 3: one point fifteen billion euros and they also lifted their 12 00:00:37,159 --> 00:00:40,640 Speaker 3: capital ratio target. So that's a key measure of resilience 13 00:00:40,640 --> 00:00:43,040 Speaker 3: for banks, and they essentially said that they'll be able 14 00:00:43,080 --> 00:00:45,920 Speaker 3: to reach that target a year earlier than planned. So 15 00:00:46,000 --> 00:00:48,479 Speaker 3: both of those things, that raise target and that buy 16 00:00:48,520 --> 00:00:51,040 Speaker 3: back have been received very well by the market, and 17 00:00:51,080 --> 00:00:53,960 Speaker 3: that's helping to reverse some of the recent weakness that 18 00:00:54,000 --> 00:00:56,560 Speaker 3: we've seen in that stock. So that's a company that 19 00:00:56,640 --> 00:00:59,600 Speaker 3: has been dealing with some legal troubles recently. There was 20 00:00:59,640 --> 00:01:02,360 Speaker 3: a core ruling that linked it to human rights abuses 21 00:01:02,400 --> 00:01:04,800 Speaker 3: in Sedan. That's a verdict that they have been trying 22 00:01:04,840 --> 00:01:07,760 Speaker 3: to appeal, but that could cost them billions in settlements. 23 00:01:07,800 --> 00:01:10,800 Speaker 3: So that's definitely something that's been holding back the stock. 24 00:01:11,040 --> 00:01:12,680 Speaker 3: And then if we look back a little bit a 25 00:01:12,760 --> 00:01:15,679 Speaker 3: little bit further, we also had a third quarter results 26 00:01:15,680 --> 00:01:17,920 Speaker 3: where they were hit by quite that debt as well, 27 00:01:18,360 --> 00:01:20,920 Speaker 3: and that is that was in contrast with other European 28 00:01:20,959 --> 00:01:24,000 Speaker 3: banks that were able to keep that deterioration in credit, 29 00:01:24,200 --> 00:01:27,240 Speaker 3: mostly at Bay. So all of those things have really 30 00:01:27,600 --> 00:01:30,560 Speaker 3: held back the stock in the has been a little 31 00:01:30,560 --> 00:01:32,880 Speaker 3: bit weak over the last few weeks. So it's been 32 00:01:33,160 --> 00:01:35,399 Speaker 3: an attempt here by the CEO to kind of boost 33 00:01:36,000 --> 00:01:37,840 Speaker 3: this share price, and this seems to be working in 34 00:01:37,840 --> 00:01:40,760 Speaker 3: the shares we're up quite strongly this morning and really 35 00:01:40,800 --> 00:01:44,319 Speaker 3: reassuring investors that this is a resilient bank, a profitable bank, 36 00:01:44,360 --> 00:01:46,160 Speaker 3: and it will be overall fine. 37 00:01:46,400 --> 00:01:50,600 Speaker 1: Okay. So that on BNP Pariba also AIRSML is on 38 00:01:50,640 --> 00:01:54,040 Speaker 1: the move, basking in the glow from Nvidia with seem 39 00:01:54,360 --> 00:01:55,680 Speaker 1: yeah ASML. 40 00:01:55,240 --> 00:01:57,720 Speaker 3: But also a lot of other AI related stocks this 41 00:01:57,800 --> 00:02:00,440 Speaker 3: morning doing really well in Europe, and that's obviously, as 42 00:02:00,480 --> 00:02:02,960 Speaker 3: you said, read across from in Video's earning. So the 43 00:02:03,000 --> 00:02:07,160 Speaker 3: company provided a very upbeat forecast. The CEO pushback against 44 00:02:07,520 --> 00:02:10,320 Speaker 3: the narrative of the an AI bubble that's been kind 45 00:02:10,320 --> 00:02:13,560 Speaker 3: of growing in the market recently. So that's boosted all 46 00:02:13,560 --> 00:02:15,680 Speaker 3: the companies in Europe that are part of this broader 47 00:02:15,960 --> 00:02:20,440 Speaker 3: AI ecosystem. So ASML has mentioned n B Semi for example, 48 00:02:20,440 --> 00:02:25,120 Speaker 3: which manufacture semiconductor equipment, but then also companies like Laganche 49 00:02:25,120 --> 00:02:27,640 Speaker 3: Schneider in France that make all of the kind of 50 00:02:27,639 --> 00:02:31,840 Speaker 3: critical equipment for data centers like calling infrastructure for example, 51 00:02:31,880 --> 00:02:34,920 Speaker 3: in electrical equipment. So there seems to be quite an 52 00:02:34,919 --> 00:02:38,880 Speaker 3: optimistic feeling in the market today around AI and that's 53 00:02:38,919 --> 00:02:41,000 Speaker 3: easing some of those concerns that we have seen in 54 00:02:41,080 --> 00:02:44,400 Speaker 3: recent days in recent weeks around really stretch valuations and 55 00:02:44,480 --> 00:02:47,840 Speaker 3: the potential of a bubble forming. And so ASML is 56 00:02:47,880 --> 00:02:49,400 Speaker 3: basking in that glow for sure today. 57 00:02:49,520 --> 00:02:53,000 Speaker 1: Okay, s MYML feeling some of the loves of the 58 00:02:53,040 --> 00:02:55,440 Speaker 1: invidio earning zone and the read across to the broader 59 00:02:55,480 --> 00:02:59,600 Speaker 1: tech sector, switching focus to retail and a touch on 60 00:02:59,639 --> 00:03:04,080 Speaker 1: the UK consumer with JD Sports. What is the story there? 61 00:03:04,080 --> 00:03:06,560 Speaker 1: Are they baskinging a glow or this kind of frigid 62 00:03:06,600 --> 00:03:07,480 Speaker 1: freeze that we're feeling. 63 00:03:07,520 --> 00:03:09,320 Speaker 3: My it's definitely frigid freeze. 64 00:03:09,360 --> 00:03:09,880 Speaker 1: Definitely. 65 00:03:10,840 --> 00:03:13,320 Speaker 3: JD Sports expects a profit to come in at the 66 00:03:13,360 --> 00:03:16,200 Speaker 3: lower end of market expectations, they said this morning, and 67 00:03:16,480 --> 00:03:18,600 Speaker 3: these are results that came in at the same day 68 00:03:18,639 --> 00:03:22,320 Speaker 3: that the British Retail Consortium said that consumer confidence fell very, 69 00:03:22,400 --> 00:03:26,120 Speaker 3: very sharply in November. So there's definitely evidence of some 70 00:03:26,160 --> 00:03:29,440 Speaker 3: pressure in that UK retail sector ahead of the budget 71 00:03:29,520 --> 00:03:33,200 Speaker 3: that is coming next week. So the expectation of an 72 00:03:33,240 --> 00:03:36,720 Speaker 3: income text hike got people really worried about their personal 73 00:03:36,760 --> 00:03:40,160 Speaker 3: finances and therefore they're held back on spending. And the 74 00:03:40,160 --> 00:03:42,640 Speaker 3: BFC said that sixty percent of Brits now expect the 75 00:03:42,640 --> 00:03:46,400 Speaker 3: British economy to worsen over the next three months. So 76 00:03:46,440 --> 00:03:49,240 Speaker 3: all of that is obviously not very positive and we 77 00:03:49,320 --> 00:03:52,360 Speaker 3: can see that in turn reflected in the performance of retailers, 78 00:03:52,360 --> 00:03:54,760 Speaker 3: and JD Sports is really happens to be the post 79 00:03:54,880 --> 00:03:58,040 Speaker 3: child for that today, with shares down because of that 80 00:03:58,240 --> 00:04:00,800 Speaker 3: expectation being paired back in terms of profit. 81 00:04:02,200 --> 00:04:06,440 Speaker 2: The Stockmovers report from Bloomberg Radio check back with us 82 00:04:06,480 --> 00:04:09,280 Speaker 2: throughout the day for the latest roundup of companies making 83 00:04:09,360 --> 00:04:12,960 Speaker 2: news on Wall Street and for the latest market moving headlines. 84 00:04:13,160 --> 00:04:17,159 Speaker 2: Listen to Bloomberg Radio Live. 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