WEBVTT - Evolution Slumps, Beazley Falls, Glanbia Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>Well, let's take a look at some stocks on the

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<v Speaker 1>move today in Europe. I'm Stephen Carroll and I'm joined

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<v Speaker 1>now by Bloomberg's Breaking These editor Chloe Mele Chloe, good morning.

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<v Speaker 1>Good morning, so online by gambling company Evolution. Let's start

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<v Speaker 1>with them shares in the rad what's going on? Yeah,

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<v Speaker 1>so for Evolution is a very interesting story.

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<v Speaker 3>So it's a gambling company and it specializes in live

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<v Speaker 3>online gambling, so essentially providing feeds of games led blackjack

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<v Speaker 3>and roulette for example. And what's happened there is that

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<v Speaker 3>current and former executives were secretly filmed describing how casino

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<v Speaker 3>games made. They were illegally into countries like Iran, Sadan

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<v Speaker 3>and China, and so we're talking about countries that were

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<v Speaker 3>either under US sanctions or we're gambling is elite. So

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<v Speaker 3>a really interesting story that's sending the shares down this morning.

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<v Speaker 3>Evolution makes most of its revenue from players in what

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<v Speaker 3>it describes as unregulated markets, but it doesn't really disclose

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<v Speaker 3>a breakdown by country, which is actually significantly higher than

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<v Speaker 3>some of its piers. So if we took a company

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<v Speaker 3>like Plateech for example, actually ninety two percent of its

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<v Speaker 3>revenues came from regulated markets in twenty twenty four, so

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<v Speaker 3>it seems to be kind of part of that business model.

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<v Speaker 3>And a former executive says in one of the recordings

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<v Speaker 3>that Evolution used intermedia resellers to sell its game at

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<v Speaker 3>to markets like South Korea, Malaysia, Thailand where online casinos

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<v Speaker 3>are actually illegal. So it's a very interesting story and

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<v Speaker 3>definitely something to keep an eye on and see how

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<v Speaker 3>that evolves.

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<v Speaker 4>Yeah, I definitely want to watch there.

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<v Speaker 1>Well, let's go to the insurance space next, Beasley down,

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<v Speaker 1>what's happening there?

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<v Speaker 3>Yes, Beasley is a specialty insurance, so it operates in

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<v Speaker 3>business lines like cyber insurance for example, property insurance, and

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<v Speaker 3>today it cut its growth guidance. It said that market

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<v Speaker 3>conditions were really soft and that was due to very

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<v Speaker 3>strong supply and really high competition. So term, it's facing

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<v Speaker 3>those those kind of key challenges. But if we look

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<v Speaker 3>at a little bit longer term, it did say that

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<v Speaker 3>there was some really interesting and positive catalysts going forward.

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<v Speaker 3>So it said that things like climate change, climate change,

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<v Speaker 3>like cybercrime, like obviously geopolitical insanity, all of these things

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<v Speaker 3>will boost demand for insurance in the long term. So

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<v Speaker 3>one thing in noted, for example, is a business line

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<v Speaker 3>that did actually quite well, which is called Marine Accident

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<v Speaker 3>and Political Risks, so MAP, and that insects with the

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<v Speaker 3>geopolitical story quite a lot. So we're talking about insurance

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<v Speaker 3>for example, across terrorism, across across aviation, war, across cargo lines.

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<v Speaker 4>So all of those things are quite interesting.

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<v Speaker 3>So it seems that the term it's not it's probably

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<v Speaker 3>not as positive, and that's sending the shares down, but

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<v Speaker 3>longer term there might be some some positive catalysts there.

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<v Speaker 1>Okay, and you've also picked out the pish food company Glambia.

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<v Speaker 1>Their shares up all over twelve percent.

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<v Speaker 4>What's going on, Yeah, very good morning for Glambia.

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<v Speaker 3>So it makes protein shakes, protein bars, supplements, and it's

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<v Speaker 3>actually really benefiting from the kind of protein craze that

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<v Speaker 3>we've seen on social media in particular, so people are

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<v Speaker 3>obviously becoming more health conscious, so it's widening the pool

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<v Speaker 3>of potential consumers away from just you know, just athletes,

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<v Speaker 3>and people just want to also just you know, improve

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<v Speaker 3>them performance in the gym or eat healthier, et cetera.

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<v Speaker 4>So on the back of that, Glambia raised.

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<v Speaker 3>Its guidance this morning and it's also announced a fifty

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<v Speaker 3>million euro buyback. One A small area of weakness was

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<v Speaker 3>the performance nutrition segment, where volumes were a little bit weak,

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<v Speaker 3>but that's more due to just a really high competition

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<v Speaker 3>rather than any kind of dip in cells. And the

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<v Speaker 3>growth runway does look very clear for Glambia. So Boomberg

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<v Speaker 3>Intelligence estimates that the combined address board market for its

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<v Speaker 3>lifestyle and sports nutrition brands is one hundred billion dollars,

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<v Speaker 3>so there's definitely possibilities there for father grow for Glambia,

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<v Speaker 3>and that's sending the shows up.

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