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 3: Let's take a look at some of the stocks on
Speaker 3: the move today in a year on Tom McKenzie alongside
Speaker 3: carnting Hecker. We can bring in now Bloomberg's Breaking News
Speaker 3: editor Louise Moon and Louise. First up is m Ands
Speaker 3: and it seems to have been finding its growth mojo
Speaker 3: arguably and at least putting behind it a pretty major
Speaker 3: cyber attack.
Speaker 1: Yeah, so this is its four year results. So with
Speaker 1: the cyber attack, essentially driven by the cyber attack, pretax
Speaker 1: profit fell twenty four percent, but they're saying that is
Speaker 1: purely really down to that. So overall results are kind
Speaker 1: of less severe than expected. And then, as you say,
Speaker 1: it expects growth to from now on essentially resume back
Speaker 1: to normal. So the year before Emins had actually hit
Speaker 1: the highest pretext profit in fifteen years, so it's expecting
Speaker 1: things to go back to that. So a bit of
Speaker 1: a blip and essentially has been knocked off course, and
Speaker 1: now it's saying it will be back on course from
Speaker 1: now on. So shares rose actually on the back of that,
Speaker 1: despite that dip so rose as much as five point
Speaker 1: five percent. So as I say, going forward, they there
Speaker 1: was quite fighting talk actually from Stuart match In, the
Speaker 1: CEO in the statement essentially saying they're continuing with their
Speaker 1: turnaround plans that includes a lot more presence online and
Speaker 1: a lot more presence overseas. Did acknowledge obviously there's kind
Speaker 1: of the wider headwinds that's facing retail in terms of
Speaker 1: consumer sentiment, weakening, higher costs obviously because of the Middle East.
Speaker 1: So that was acknowledged, but plowing ahead, he said, sleeves
Speaker 1: are rolled up and growth is going to be back
Speaker 1: on track.
Speaker 4: Okay, so that from Marks and Spencer's, then the high
Speaker 4: street tool store work. Now let's think about supermarkets. What
Speaker 4: have the share prices of supermarkets done in the UK
Speaker 4: with this, you know, really surprising, as Bloomberg's chief UK
Speaker 4: economists Dana Hands have put it in a very surprising
Speaker 4: policy to try to maybe cap get the supermarkets to
Speaker 4: cap prices of basic goods.
Speaker 1: Yeah, so not reacting well really, so shares falling. If
Speaker 1: you look at Tesco's and Sainsbury's both quite heavily in
Speaker 1: the red in trading this morning. As you say, so
Speaker 1: that's Reeves proposing to potentially ask supermarkets to voluntarily freeze
Speaker 1: their food prices and then in return they'd get less
Speaker 1: regulatory burdens. So nothing's been agreed and those food or
Speaker 1: potential food price freezes wouldn't be imposed. But saying that
Speaker 1: Reeves is in talks with the supermarkets. Of course, this
Speaker 1: is all with the wide aim of trying to find
Speaker 1: ways to alleviate the cost of living burden on the
Speaker 1: average brit and Reeves is expected to announce a package
Speaker 1: of measures tomorrow. But this is one of the potential measures.
Speaker 1: As I say, shares falling no surprises. There was a
Speaker 1: very angry reaction from retailers, obviously criticizing Reeves for adding
Speaker 1: another headwinds, so potentially causing loss making in stores they're
Speaker 1: already facing. As I mentioned with m ands, they're already
Speaker 1: facing a lot of headwinds, you know, high cost energy,
Speaker 1: everything else already contend with. So this would be another
Speaker 1: hit to them if and when it happens.
Speaker 3: And on the techfront, you're keeping an eye on ASML.
Speaker 1: Yes, ASML and kind of the wider tech and sem
Speaker 1: conductive space across Europe. So if you look at the
Speaker 1: Eurostos fifty, it's slightly up to day and the biggest
Speaker 1: contributors there is tech stock, so you've got asmls you mentioned,
Speaker 1: You've also got Infinian and then tech Investor Process, so
Speaker 1: a host of big tech names potentially ahead of in
Speaker 1: Nvidio earnings latest day, so a bit of excitement they're
Speaker 1: running through the tech sector. Sales estimated to have grown
Speaker 1: eighty percent, but essentially the focus more is what they're
Speaker 1: going to say for what lies ahead for the techt base,
Speaker 1: So a bit of an indicator as to the health
Speaker 1: of AI more widely. So yeah, that is running through
Speaker 1: markets this morning, and also one of the reasons why
Speaker 1: the foote hundred is underperforming. It hasn't got a lot
Speaker 1: of techtocs, so underperforming there and giving a bit of
Speaker 1: a boost to Europe.
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