1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:17,840 --> 00:00:19,680 Speaker 3: Let's have a look at some stocks on the move 5 00:00:19,720 --> 00:00:22,520 Speaker 3: today here in Europe. One Caroline Hepca alongside Tom McKenzie, 6 00:00:22,560 --> 00:00:25,520 Speaker 3: and we're joined by Bloomberg's Equities, reported Joe easton Joe 7 00:00:25,520 --> 00:00:28,680 Speaker 3: Good Morning. Let's start with the European miners. Not exactly 8 00:00:28,840 --> 00:00:32,080 Speaker 3: striking gold at the moment. What's the latest, No, not 9 00:00:32,200 --> 00:00:34,920 Speaker 3: striking gold at all. So the mining stocks pretty much 10 00:00:35,000 --> 00:00:37,319 Speaker 3: the worst performing sector that we've got today. So we're 11 00:00:37,320 --> 00:00:40,040 Speaker 3: seeing losses of around three percent across the sectors at 12 00:00:40,040 --> 00:00:44,080 Speaker 3: glen Core, Anglo American, Rio and Tofa Gasta. 13 00:00:43,800 --> 00:00:46,640 Speaker 1: All of those stocks low. That's after data in China 14 00:00:46,720 --> 00:00:52,040 Speaker 1: which showed the manufacturing index was actually in contraction territory 15 00:00:52,479 --> 00:00:55,319 Speaker 1: for the latest period, and that's kind of spooked the 16 00:00:55,320 --> 00:00:59,280 Speaker 1: mining sector given is so dependent on the demand from 17 00:00:59,360 --> 00:01:02,480 Speaker 1: China to where those commodities assaults. So it is the 18 00:01:02,600 --> 00:01:05,800 Speaker 1: UK listed minus Glencore in particular the one I had 19 00:01:05,800 --> 00:01:08,279 Speaker 1: my own gl e and the ticket on that one 20 00:01:08,480 --> 00:01:12,039 Speaker 1: falling extending a year to date decline to around twenty percent, 21 00:01:12,160 --> 00:01:15,920 Speaker 1: but analysts really positive on these docs. Glencre itself has 22 00:01:15,959 --> 00:01:19,440 Speaker 1: around eighteen analysts recommending buying stock, not a single one 23 00:01:19,480 --> 00:01:23,160 Speaker 1: selling it. So question is really whether these declines have 24 00:01:23,240 --> 00:01:26,480 Speaker 1: gone too far given the concerns around China. It's a 25 00:01:26,480 --> 00:01:29,319 Speaker 1: different sector banking, UBS one of the best performers in 26 00:01:29,360 --> 00:01:31,120 Speaker 1: the session today. 27 00:01:31,360 --> 00:01:33,280 Speaker 3: What's leading to the upside for that stock? 28 00:01:33,640 --> 00:01:34,360 Speaker 2: So Ubs? 29 00:01:34,400 --> 00:01:36,600 Speaker 1: This is interesting because on Friday we're going to get 30 00:01:36,600 --> 00:01:40,640 Speaker 1: a keenly awaighted update from the Swiss government on UBS's 31 00:01:40,680 --> 00:01:44,319 Speaker 1: capital position. So the government over in UBS has to 32 00:01:44,360 --> 00:01:47,039 Speaker 1: decide how much capital UBS needs to keep on its 33 00:01:47,040 --> 00:01:50,560 Speaker 1: books following that big merger that shook up the banking 34 00:01:50,600 --> 00:01:53,000 Speaker 1: world a couple of years ago when they bought credits 35 00:01:53,000 --> 00:01:57,320 Speaker 1: Swiss or saved it. Really now UBS analysts excuse me, 36 00:01:57,360 --> 00:01:59,880 Speaker 1: Jeffrey's analyst, I should say it, my analyst, My love 37 00:02:00,400 --> 00:02:03,640 Speaker 1: se Jeffrey's analysts saying that concerns around this capital update 38 00:02:03,880 --> 00:02:06,680 Speaker 1: are actually overdone and the market is priced in around 39 00:02:06,680 --> 00:02:10,280 Speaker 1: a fifty billion requirement in terms of fifty billion dollar 40 00:02:10,400 --> 00:02:14,520 Speaker 1: requirement on the capital that will be announced on Friday, 41 00:02:14,520 --> 00:02:16,200 Speaker 1: but they don't think it will be anywhere near as 42 00:02:16,280 --> 00:02:20,440 Speaker 1: much as that, so they actually upgrade UBS ubs G 43 00:02:20,720 --> 00:02:23,080 Speaker 1: the ticker on that one and the stock the best 44 00:02:23,080 --> 00:02:25,959 Speaker 1: performing in Europe today up around three percent at the moment. 45 00:02:27,080 --> 00:02:30,880 Speaker 3: And then lastly MJ. Gleeson down sharply this morning. The 46 00:02:30,960 --> 00:02:34,520 Speaker 3: house building sector in trouble even though actually the latest 47 00:02:34,520 --> 00:02:37,160 Speaker 3: home price data shows that prices are starting to pick up. 48 00:02:37,960 --> 00:02:42,239 Speaker 1: Yes so MJ Gleeson gl the ticket in London that 49 00:02:42,280 --> 00:02:45,360 Speaker 1: one is sliding today, absolutely slammed. Going to be pretty 50 00:02:45,440 --> 00:02:47,280 Speaker 1: upset of you waking up to that one because it's 51 00:02:47,280 --> 00:02:51,280 Speaker 1: down twenty percent this morning. MJ Gleeson slashing its guide 52 00:02:51,320 --> 00:02:54,880 Speaker 1: ince citing a slower and expected recovery in the housing market. 53 00:02:54,960 --> 00:02:58,040 Speaker 1: Now the company focuses more on the affordable end of 54 00:02:58,040 --> 00:03:01,160 Speaker 1: the market in the North of An also the Midlands 55 00:03:01,160 --> 00:03:02,960 Speaker 1: as well. But I think it is interesting we did 56 00:03:02,960 --> 00:03:06,640 Speaker 1: get some data yesterday. Although the housing prices, as you mentioned, 57 00:03:06,680 --> 00:03:10,280 Speaker 1: are actually doing okay, the mortgage approvals acually declining a 58 00:03:10,440 --> 00:03:13,360 Speaker 1: year on year basis of Potentially this means that rates 59 00:03:13,360 --> 00:03:15,480 Speaker 1: aren't coming down quick enough for people to buy into 60 00:03:15,480 --> 00:03:18,960 Speaker 1: the market. Therefore, MG Gleason's earnings report really showing the 61 00:03:18,960 --> 00:03:20,279 Speaker 1: effect of that Today. 62 00:03:21,120 --> 00:03:25,280 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 63 00:03:25,360 --> 00:03:28,119 Speaker 2: us throughout the day for the latest roundup of companies 64 00:03:28,160 --> 00:03:31,200 Speaker 2: making news on Wall Street and for the latest market 65 00:03:31,240 --> 00:03:35,600 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 66 00:03:35,640 --> 00:03:38,920 Speaker 2: Bloomberg dot com, and on Applecarplay and Android otto with 67 00:03:38,960 --> 00:03:40,440 Speaker 2: the Bloomberg Business app.