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: now by Bloomberg's Breaking These editor Chloe Mele Chloe, good morning.
Speaker 1: Good morning, so online by gambling company Evolution. Let's start
Speaker 1: with them shares in the rad what's going on? Yeah,
Speaker 1: so for Evolution is a very interesting story.
Speaker 3: So it's a gambling company and it specializes in live
Speaker 3: online gambling, so essentially providing feeds of games led blackjack
Speaker 3: and roulette for example. And what's happened there is that
Speaker 3: current and former executives were secretly filmed describing how casino
Speaker 3: games made. They were illegally into countries like Iran, Sadan
Speaker 3: and China, and so we're talking about countries that were
Speaker 3: either under US sanctions or we're gambling is elite. So
Speaker 3: a really interesting story that's sending the shares down this morning.
Speaker 3: Evolution makes most of its revenue from players in what
Speaker 3: it describes as unregulated markets, but it doesn't really disclose
Speaker 3: a breakdown by country, which is actually significantly higher than
Speaker 3: some of its piers. So if we took a company
Speaker 3: like Plateech for example, actually ninety two percent of its
Speaker 3: revenues came from regulated markets in twenty twenty four, so
Speaker 3: it seems to be kind of part of that business model.
Speaker 3: And a former executive says in one of the recordings
Speaker 3: that Evolution used intermedia resellers to sell its game at
Speaker 3: to markets like South Korea, Malaysia, Thailand where online casinos
Speaker 3: are actually illegal. So it's a very interesting story and
Speaker 3: definitely something to keep an eye on and see how
Speaker 3: that evolves.
Speaker 4: Yeah, I definitely want to watch there.
Speaker 1: Well, let's go to the insurance space next, Beasley down,
Speaker 1: what's happening there?
Speaker 3: Yes, Beasley is a specialty insurance, so it operates in
Speaker 3: business lines like cyber insurance for example, property insurance, and
Speaker 3: today it cut its growth guidance. It said that market
Speaker 3: conditions were really soft and that was due to very
Speaker 3: strong supply and really high competition. So term, it's facing
Speaker 3: those those kind of key challenges. But if we look
Speaker 3: at a little bit longer term, it did say that
Speaker 3: there was some really interesting and positive catalysts going forward.
Speaker 3: So it said that things like climate change, climate change,
Speaker 3: like cybercrime, like obviously geopolitical insanity, all of these things
Speaker 3: will boost demand for insurance in the long term. So
Speaker 3: one thing in noted, for example, is a business line
Speaker 3: that did actually quite well, which is called Marine Accident
Speaker 3: and Political Risks, so MAP, and that insects with the
Speaker 3: geopolitical story quite a lot. So we're talking about insurance
Speaker 3: for example, across terrorism, across across aviation, war, across cargo lines.
Speaker 4: So all of those things are quite interesting.
Speaker 3: So it seems that the term it's not it's probably
Speaker 3: not as positive, and that's sending the shares down, but
Speaker 3: longer term there might be some some positive catalysts there.
Speaker 1: Okay, and you've also picked out the pish food company Glambia.
Speaker 1: Their shares up all over twelve percent.
Speaker 4: What's going on, Yeah, very good morning for Glambia.
Speaker 3: So it makes protein shakes, protein bars, supplements, and it's
Speaker 3: actually really benefiting from the kind of protein craze that
Speaker 3: we've seen on social media in particular, so people are
Speaker 3: obviously becoming more health conscious, so it's widening the pool
Speaker 3: of potential consumers away from just you know, just athletes,
Speaker 3: and people just want to also just you know, improve
Speaker 3: them performance in the gym or eat healthier, et cetera.
Speaker 4: So on the back of that, Glambia raised.
Speaker 3: Its guidance this morning and it's also announced a fifty
Speaker 3: million euro buyback. One A small area of weakness was
Speaker 3: the performance nutrition segment, where volumes were a little bit weak,
Speaker 3: but that's more due to just a really high competition
Speaker 3: rather than any kind of dip in cells. And the
Speaker 3: growth runway does look very clear for Glambia. So Boomberg
Speaker 3: Intelligence estimates that the combined address board market for its
Speaker 3: lifestyle and sports nutrition brands is one hundred billion dollars,
Speaker 3: so there's definitely possibilities there for father grow for Glambia,
Speaker 3: and that's sending the shows up.
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