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: Now, let's take a look at some of the stocks
Speaker 1: on the move today in Europe. Pamsy burdened with Stephen
Speaker 1: Carroll and were joined by Bloomberg reporter Chloe Melley. Chloe,
Speaker 1: there's really not much doing when it comes to the
Speaker 1: index level. So let's pick out one stock here in
Speaker 1: the UK, British home builder Vistry. Why is it having
Speaker 1: a difficult morning?
Speaker 3: Yeah, so there was a report over the weekend from
Speaker 3: the ft that the credit insurer Allion's Trade was reducing
Speaker 3: the cover extended to suppliers of Vistory. So the way
Speaker 3: it works is that suppliers buy credit insurance to protect
Speaker 3: themselves in case their customers failed to pay for goods
Speaker 3: and services, and so when coverage is withdrawn or reduced
Speaker 3: in this case, suppliers may request payment upfront. And so
Speaker 3: that essentially means for Vistory that it's cash flow, which
Speaker 3: is already under pressure, could be squeezed even further. So
Speaker 3: it's already having a difficult time. You know, there's been
Speaker 3: this slowdown in the housing market that's impacted all of
Speaker 3: the home builders here in the UK, but Vistory has
Speaker 3: been under particular pressure right now. It's in the middle
Speaker 3: of a big turnaround with a focus on trying to
Speaker 3: generate cash to pay down its debt, and so this
Speaker 3: change made to credit insurance has the potential to be
Speaker 3: a really massive headwind for this company. And so this
Speaker 3: explains the quite significant hit that we've seen to the
Speaker 3: shares this morning.
Speaker 2: Okay, so that's on Vistree.
Speaker 1: Let's go to Germany next, the Autopartes Rate or Ammovia,
Speaker 1: which is seeing shares rising this morning after an analyst upgrade.
Speaker 3: Yeah. So Bunstein Analysts of upgraded Homovia to a by
Speaker 3: rating and essentially really highlighting the cost discipline from the
Speaker 3: company and saying that the firm had clearly proven that
Speaker 3: it can cost ahead of expectations. Also said that the
Speaker 3: second quarter results which came last week were very strong
Speaker 3: and really acted as a sort of clearing event for
Speaker 3: the stock, which means that it is now in a
Speaker 3: position where it can boost shareholder returns and it can
Speaker 3: also probably beat expectations going forward as well into twenty
Speaker 3: twenty seven. The analyst also noted that the resolution of
Speaker 3: a dispute between BMW and Amovia was also a positive thing.
Speaker 3: So this was an issue around the breaking system from Ammovia,
Speaker 3: which had prompted BMW to recall about one point five
Speaker 3: million cars, and so there was a settlement of three
Speaker 3: hundred and fifty million euros and so that means that
Speaker 3: there's no longer this issue sort of hanging over at Ammovio,
Speaker 3: and so this is obviously quite positive. Amovia is also
Speaker 3: flagged that it will have the possibility of having a
Speaker 3: buyback after this settlement. So essentially Benstein thinks Tomovia is
Speaker 3: in great shape and has that potential for more shareholder returns,
Speaker 3: which of course is something that analysts and investors always
Speaker 3: quite excited about.
Speaker 1: And finally, Clarie has many happy returns for trading firm
Speaker 1: plus five hundred tell us more.
Speaker 3: Yeah, plus five hundred is a trading platform that's doing
Speaker 3: very well. So they had a trading update a little
Speaker 3: bit earlier this earning season and now came out with
Speaker 3: the full first half results which are really positively solid,
Speaker 3: and then also announced a buyback and some and dividend
Speaker 3: as well. Which of course was welcomed by investors. The
Speaker 3: company said, the first half of the year had been
Speaker 3: really outstanding period for the company. It's been sort of
Speaker 3: widening is geographic footprint. It's also making headway into new
Speaker 3: sort of areas of prediction markets. For example, recently with Launch,
Speaker 3: they launched sports contracts and so that's proven to be
Speaker 3: quite popular and there's just been generally a real enthusiasm
Speaker 3: among retail investors. Of course, some of that might have
Speaker 3: to do with the share volatility in markets that we
Speaker 3: have seen recently, and so all of that has resulted
Speaker 3: in some very strong, very solid numbers for that trading platform,
Speaker 3: and that's driven a big shap price boost. This morning.
Speaker 2: The Stockmover's Report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg
Speaker 2: dot com, and on Applecarplay and Android Auto with the
Speaker 2: Bloomberg Business app.