1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,840 --> 00:00:18,360 Speaker 1: Well, let's take a look at some stocks on the 5 00:00:18,360 --> 00:00:20,799 Speaker 1: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:20,800 --> 00:00:22,799 Speaker 1: by Bloomberg reporter Chloe Melee Chloy. 7 00:00:22,880 --> 00:00:23,400 Speaker 3: Good morning. 8 00:00:24,000 --> 00:00:27,400 Speaker 1: Let's start then with Brunello Cucinelli, the luxury stock gaining 9 00:00:27,720 --> 00:00:30,960 Speaker 1: as much as six point six percent following their earnings. 10 00:00:31,040 --> 00:00:33,599 Speaker 4: Tell us more Yes, adding season is starting, which I'm 11 00:00:33,640 --> 00:00:37,400 Speaker 4: sure everyone is very excited about. Brunello Cucinelli is often 12 00:00:37,640 --> 00:00:40,400 Speaker 4: the very first name in their luxury space to report, 13 00:00:40,400 --> 00:00:42,519 Speaker 4: and it tends to set the tone a little bit 14 00:00:42,600 --> 00:00:44,040 Speaker 4: and it is a positive turn. 15 00:00:44,120 --> 00:00:45,720 Speaker 3: As you said, those shares. 16 00:00:45,600 --> 00:00:49,239 Speaker 4: Moving higher this morning, so we've got revenue beating estimates 17 00:00:49,280 --> 00:00:52,640 Speaker 4: and really growing across all regions. And then also some 18 00:00:52,720 --> 00:00:56,120 Speaker 4: optimism for the year ahead as well. And so Bloomberg 19 00:00:56,160 --> 00:01:00,440 Speaker 4: Intelligence said that the results really confirmed that Brunellukutch Nellie's 20 00:01:00,480 --> 00:01:03,560 Speaker 4: focus on the more affluent part of the luxury market 21 00:01:03,880 --> 00:01:07,720 Speaker 4: is working, especially in the context of the geopolitical tensions 22 00:01:07,760 --> 00:01:11,440 Speaker 4: and then the economic downturn that comes with that. So 23 00:01:11,520 --> 00:01:14,680 Speaker 4: this is really the same thing that Emmas benefits from 24 00:01:14,720 --> 00:01:17,400 Speaker 4: as well, which is that their target audience is essentially 25 00:01:17,440 --> 00:01:21,440 Speaker 4: so wealthy that they're not as affected by inflationary pressures 26 00:01:21,920 --> 00:01:25,240 Speaker 4: or we consumer sentiment as much as you know, you 27 00:01:25,319 --> 00:01:28,400 Speaker 4: and I would be. And so we'll be hearing from 28 00:01:28,400 --> 00:01:30,679 Speaker 4: Emmas as well next week, so we'll see if that 29 00:01:30,760 --> 00:01:32,440 Speaker 4: is also the case for them. 30 00:01:33,000 --> 00:01:35,600 Speaker 3: And we also have LVMH and caring next week. 31 00:01:35,640 --> 00:01:38,440 Speaker 4: So by next Friday, a week from now, we'll have 32 00:01:38,440 --> 00:01:41,040 Speaker 4: a better sense of how well luxury is doing and 33 00:01:41,319 --> 00:01:44,080 Speaker 4: which names really within that space are standing out. 34 00:01:44,440 --> 00:01:46,760 Speaker 1: I very quickly a centered and I said, then when 35 00:01:46,760 --> 00:01:49,440 Speaker 1: you said, you and I suggesting that we aren't luxury sharper, 36 00:01:49,800 --> 00:01:51,080 Speaker 1: which I feel like it's not the sort of amage 37 00:01:51,080 --> 00:01:52,960 Speaker 1: that we want to necessarily be projecting. You know, let's 38 00:01:52,960 --> 00:01:55,040 Speaker 1: say aspirational about it. Perhaps we could be the sort 39 00:01:55,080 --> 00:01:58,920 Speaker 1: of people that are shopping in these companies too. Exactly exactly, 40 00:01:59,320 --> 00:02:02,840 Speaker 1: we'll talk later. Let's turn next to Share that is 41 00:02:02,920 --> 00:02:05,400 Speaker 1: den Sharply this morning, this is the French catering companies 42 00:02:05,400 --> 00:02:05,920 Speaker 1: to Taxel. 43 00:02:06,360 --> 00:02:08,120 Speaker 4: Yeah, very bad day for them, so they cut their 44 00:02:08,160 --> 00:02:11,959 Speaker 4: guidance this morning and they expect the weakest sales growth 45 00:02:12,000 --> 00:02:14,560 Speaker 4: in five years for this year, and it said that 46 00:02:14,639 --> 00:02:18,320 Speaker 4: there had been both internal and external challenges. So internally 47 00:02:18,360 --> 00:02:21,880 Speaker 4: there's been a lot of underinvestment and some execution challenges, 48 00:02:21,919 --> 00:02:25,239 Speaker 4: they said, and that means that Sodexo is essentially underperformed 49 00:02:25,240 --> 00:02:27,200 Speaker 4: its competitors in the broader market. 50 00:02:27,440 --> 00:02:28,960 Speaker 3: And then externally there's of course the. 51 00:02:28,919 --> 00:02:32,400 Speaker 4: Macro uncertainty resulting in some lower volumes as well, and 52 00:02:32,440 --> 00:02:34,840 Speaker 4: that's probably something that we're going to be hearing a 53 00:02:34,880 --> 00:02:38,440 Speaker 4: lot from companies throughout this earning season. And this is 54 00:02:38,440 --> 00:02:40,519 Speaker 4: saying this is very much a matter of the new 55 00:02:40,560 --> 00:02:43,959 Speaker 4: CEO clearing the decks and gearing up for a reset, 56 00:02:44,200 --> 00:02:46,880 Speaker 4: although that will be a challenging So the new CEO 57 00:02:47,240 --> 00:02:50,800 Speaker 4: was appointed back in October and he's already overseen kind 58 00:02:50,800 --> 00:02:53,600 Speaker 4: of a big review of contracts and of assets and 59 00:02:53,639 --> 00:02:57,600 Speaker 4: that's already resulted in about eighty million euros of provisions 60 00:02:57,639 --> 00:03:00,840 Speaker 4: tied to those underperforming assets. So now it's really a 61 00:03:00,840 --> 00:03:04,800 Speaker 4: matter of moving that forward and resetting that strategy and 62 00:03:04,840 --> 00:03:08,680 Speaker 4: rebuilding that credibility according to analysts. But in the meantime, 63 00:03:08,720 --> 00:03:11,440 Speaker 4: that guidance cut has really really hit the shares. 64 00:03:11,480 --> 00:03:15,120 Speaker 1: This morning, indeed, Yeah, a big drop in those share prices. 65 00:03:15,480 --> 00:03:17,440 Speaker 1: We are keeping an eye, of course, on energy companies 66 00:03:17,480 --> 00:03:21,800 Speaker 1: again today, Chloe. With the US around talks in focus, 67 00:03:22,200 --> 00:03:23,840 Speaker 1: you've been looking at BP among others. 68 00:03:24,040 --> 00:03:26,680 Speaker 4: Yeah, there's a bit of weakness in those oil companies, 69 00:03:26,760 --> 00:03:29,679 Speaker 4: including BP, this morning after what has been a very 70 00:03:29,680 --> 00:03:31,360 Speaker 4: turbulent week for that sector. 71 00:03:31,400 --> 00:03:33,359 Speaker 3: There was obviously the huge drop in. 72 00:03:33,360 --> 00:03:36,640 Speaker 4: Oil prices and oil companies shares on Wednesday because of 73 00:03:36,680 --> 00:03:39,800 Speaker 4: that ceasefire agreement, and then the reversal of that yesterday 74 00:03:39,800 --> 00:03:42,840 Speaker 4: because hope was really quickly replaced by fears that the 75 00:03:42,880 --> 00:03:44,120 Speaker 4: ceasefire wouldn't hold. 76 00:03:44,560 --> 00:03:46,120 Speaker 3: Today, it's a bit more of a mixed picture. 77 00:03:46,320 --> 00:03:49,720 Speaker 4: Markets are a bit unsure, kind of neither optimistic nor pessimistic, 78 00:03:49,760 --> 00:03:52,200 Speaker 4: but kind of just holding their breath really until the 79 00:03:52,240 --> 00:03:55,280 Speaker 4: peace talks starts. So US and AROUND will be meeting 80 00:03:55,480 --> 00:03:58,520 Speaker 4: in Pakistan on Saturday, and the main sticking point is 81 00:03:58,600 --> 00:04:01,160 Speaker 4: going to be that reopening of the Strait of Hall Moves. 82 00:04:01,720 --> 00:04:04,680 Speaker 4: Traffic still isn't flowing through the strait, but Trump said 83 00:04:04,680 --> 00:04:07,800 Speaker 4: that he's optimistic that a deal can be struck with Irun. 84 00:04:08,120 --> 00:04:11,400 Speaker 4: In the meantime, though we're seeing oil all of those oil. 85 00:04:11,200 --> 00:04:13,440 Speaker 3: Companies being in slightly negative territory. 86 00:04:13,480 --> 00:04:18,560 Speaker 2: This morning the Stock Mover's Report from Bloomberg Radio. Check 87 00:04:18,600 --> 00:04:20,960 Speaker 2: back with us throughout the day for the latest roundup 88 00:04:21,000 --> 00:04:23,919 Speaker 2: of companies making news on Wall Street and for the 89 00:04:24,000 --> 00:04:28,440 Speaker 2: latest market moving headlines. Listen to Bloomberg Radio Live, catch 90 00:04:28,520 --> 00:04:32,000 Speaker 2: us on YouTube, Bloomberg dot com, and on Applecarplay and 91 00:04:32,000 --> 00:04:34,400 Speaker 2: Android Auto with the Bloomberg Business app.