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: Well, let's take a look at some stocks on the
Speaker 1: move today in Europe. I'm Stephen Carroll and I'm joined
Speaker 1: by Bloomberg reporter Chloe Melee Chloy.
Speaker 3: Good morning.
Speaker 1: Let's start then with Brunello Cucinelli, the luxury stock gaining
Speaker 1: as much as six point six percent following their earnings.
Speaker 4: Tell us more Yes, adding season is starting, which I'm
Speaker 4: sure everyone is very excited about. Brunello Cucinelli is often
Speaker 4: the very first name in their luxury space to report,
Speaker 4: and it tends to set the tone a little bit
Speaker 4: and it is a positive turn.
Speaker 3: As you said, those shares.
Speaker 4: Moving higher this morning, so we've got revenue beating estimates
Speaker 4: and really growing across all regions. And then also some
Speaker 4: optimism for the year ahead as well. And so Bloomberg
Speaker 4: Intelligence said that the results really confirmed that Brunellukutch Nellie's
Speaker 4: focus on the more affluent part of the luxury market
Speaker 4: is working, especially in the context of the geopolitical tensions
Speaker 4: and then the economic downturn that comes with that. So
Speaker 4: this is really the same thing that Emmas benefits from
Speaker 4: as well, which is that their target audience is essentially
Speaker 4: so wealthy that they're not as affected by inflationary pressures
Speaker 4: or we consumer sentiment as much as you know, you
Speaker 4: and I would be. And so we'll be hearing from
Speaker 4: Emmas as well next week, so we'll see if that
Speaker 4: is also the case for them.
Speaker 3: And we also have LVMH and caring next week.
Speaker 4: So by next Friday, a week from now, we'll have
Speaker 4: a better sense of how well luxury is doing and
Speaker 4: which names really within that space are standing out.
Speaker 1: I very quickly a centered and I said, then when
Speaker 1: you said, you and I suggesting that we aren't luxury sharper,
Speaker 1: which I feel like it's not the sort of amage
Speaker 1: that we want to necessarily be projecting. You know, let's
Speaker 1: say aspirational about it. Perhaps we could be the sort
Speaker 1: of people that are shopping in these companies too. Exactly exactly,
Speaker 1: we'll talk later. Let's turn next to Share that is
Speaker 1: den Sharply this morning, this is the French catering companies
Speaker 1: to Taxel.
Speaker 4: Yeah, very bad day for them, so they cut their
Speaker 4: guidance this morning and they expect the weakest sales growth
Speaker 4: in five years for this year, and it said that
Speaker 4: there had been both internal and external challenges. So internally
Speaker 4: there's been a lot of underinvestment and some execution challenges,
Speaker 4: they said, and that means that Sodexo is essentially underperformed
Speaker 4: its competitors in the broader market.
Speaker 3: And then externally there's of course the.
Speaker 4: Macro uncertainty resulting in some lower volumes as well, and
Speaker 4: that's probably something that we're going to be hearing a
Speaker 4: lot from companies throughout this earning season. And this is
Speaker 4: saying this is very much a matter of the new
Speaker 4: CEO clearing the decks and gearing up for a reset,
Speaker 4: although that will be a challenging So the new CEO
Speaker 4: was appointed back in October and he's already overseen kind
Speaker 4: of a big review of contracts and of assets and
Speaker 4: that's already resulted in about eighty million euros of provisions
Speaker 4: tied to those underperforming assets. So now it's really a
Speaker 4: matter of moving that forward and resetting that strategy and
Speaker 4: rebuilding that credibility according to analysts. But in the meantime,
Speaker 4: that guidance cut has really really hit the shares.
Speaker 1: This morning, indeed, Yeah, a big drop in those share prices.
Speaker 1: We are keeping an eye, of course, on energy companies
Speaker 1: again today, Chloe. With the US around talks in focus,
Speaker 1: you've been looking at BP among others.
Speaker 4: Yeah, there's a bit of weakness in those oil companies,
Speaker 4: including BP, this morning after what has been a very
Speaker 4: turbulent week for that sector.
Speaker 3: There was obviously the huge drop in.
Speaker 4: Oil prices and oil companies shares on Wednesday because of
Speaker 4: that ceasefire agreement, and then the reversal of that yesterday
Speaker 4: because hope was really quickly replaced by fears that the
Speaker 4: ceasefire wouldn't hold.
Speaker 3: Today, it's a bit more of a mixed picture.
Speaker 4: Markets are a bit unsure, kind of neither optimistic nor pessimistic,
Speaker 4: but kind of just holding their breath really until the
Speaker 4: peace talks starts. So US and AROUND will be meeting
Speaker 4: in Pakistan on Saturday, and the main sticking point is
Speaker 4: going to be that reopening of the Strait of Hall Moves.
Speaker 4: Traffic still isn't flowing through the strait, but Trump said
Speaker 4: that he's optimistic that a deal can be struck with Irun.
Speaker 4: In the meantime, though we're seeing oil all of those oil.
Speaker 3: Companies being in slightly negative territory.
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