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Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.

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Speaker 2: Stock Movers Report, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: Now let's look at some of the stocks on the

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Speaker 3: move today here in UP I'm Caroline Hepka alongside Jamana

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Speaker 3: Bassecci and we're joined by Bloomberg with Portocloi Malay, Good

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Speaker 3: morning Moni. So let's talk about the high street retailer

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Speaker 3: Next and what they see is happening with the UK consumer.

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Speaker 3: Obviously it's led by a very well known business figure

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Speaker 3: in the UK, that's Lord Wolfson.

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Speaker 1: Yeah, absolutely, so quite a bad day for Next today

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Speaker 1: and of course at that cynic by extension band news

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Speaker 1: for that UK retail sector are given the status of

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Speaker 1: next as kind of that bell weather for the UK economy. So,

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Speaker 1: as you mentioned, the CEO said that there was the economy,

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Speaker 1: the UK economy was struggling and that was dragging down

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Speaker 1: sales and that sales in the second half of the

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Speaker 1: year would be lower than the first half. He said

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Speaker 1: that in particular, additional business taxes that came through in

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Speaker 1: April of course really her employment and that in turn

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Speaker 1: is hurting consumer spending. He also noted that employment was

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Speaker 1: facing an additional challenge, which was displacement through mechanization and AI.

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Speaker 1: There's a couple of other reasons for the fact that

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Speaker 1: the sales will be lower in the second half. There's

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Speaker 1: some positive factors that happen in the first half that

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Speaker 1: won't be here again for the second half. Good weather

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Speaker 1: for example, which in London now it's full autumn mode

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Speaker 1: I think, and then also a cyber attack that her

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Speaker 1: mns which really benefited next but obviously now that's not gone.

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Speaker 1: But the real thing that is dragging down those sales

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Speaker 1: will be that struggling UK economy, so we'll be keeping

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Speaker 1: an eye on that for that wider retail sector as well.

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Speaker 3: Yeah, it does feel very automical, doesn't the first lady

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Speaker 3: arriving in full length of Burbury trench coach. Let's switch

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Speaker 3: over and talk about a finish firm cone. I believe

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Speaker 3: that's the way it's pronounced possible and a in that

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Speaker 3: s faith.

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Speaker 1: Yeah, I do believe it's has pronounced though I don't know,

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Speaker 1: so I'm just going to that's the way I've been

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Speaker 1: pronouncing it, so hopefully that's the right way. So there's

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Speaker 1: some m and A action in that elevator market. So

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Speaker 1: Conne in Finland is said to be considering a bit

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Speaker 1: for its rival TK Elevator, and and Liz said that

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Speaker 1: this could potentially reshape that global elevator market and for

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Speaker 1: Conne it could boost growth and boost margins as well.

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Speaker 1: It's not the first time that Connor has made an

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Speaker 1: approach to TK Elevator. It's with CVC Capital Partners. They

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Speaker 1: approached the firm back in twenty twenty, but then they

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Speaker 1: eventually dropped out. Now the reason why they're coming back

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Speaker 1: again is because the private equity owners of t K

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Speaker 1: Elevator are preparing for a potential ip of the company,

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Speaker 1: so that's now kind of renewed Connor's interests. There are

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Speaker 1: some potential risks with a deal like that, and including

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Speaker 1: antitrust scrutiny, so Connor would probably need to have a

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Speaker 1: partner to avoid any anti trust issues. But the fact

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Speaker 1: that the shares up this morning shows that investors are

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Speaker 1: quite keen on a potential deal like this.

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Speaker 3: And just lastly, Continental a big slump for their stock price.

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Speaker 1: Why yeah, so Continental is content. How's first day of

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Speaker 1: trading after the spinoff of its Omovio business, which is

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Speaker 1: the parts supplier business, so it sells parts auto parts

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Speaker 1: like sensors and brake systems, and it was spinned off

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Speaker 1: today on the Frankfurt Stock Exchange. As expected, with the

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Speaker 1: spin off like this, the shares do drop massively. Now

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Speaker 1: the market will really start focusing on what the opportunities

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Speaker 1: and the challenges are for those two separate companies. So

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Speaker 1: for Amovia, the challenge now is rising competition. It's also

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Speaker 1: rising costs. Car makers are increasingly bringing those capabilities those

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Speaker 1: parts in house, and then technology firms are also moving

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Speaker 1: into that territory that was usually reserved for those traditional

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Speaker 1: parts makers, so it's facing that competition. And for Continental

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Speaker 1: it's now focusing on being a tires only business, which

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Speaker 1: of course allows it to focus on what it does best,

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Speaker 1: but it also makes it dependent on how well the

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Speaker 1: cor sector is doing.

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Speaker 2: Really the Stockmover's report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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