WEBVTT - Hermès Plunges, Standard Life Climbs, ASML Fluctuates

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

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

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

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<v Speaker 3>Well, let's take a look at some stocks on the

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<v Speaker 3>move today in Europe. I'm Stephen Kaa with Caroline Hepbrom.

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<v Speaker 3>We're joined for that Ba Bloomberg's Breaking news editor at

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<v Speaker 3>Louise Moon. Louise, let's start with OURMEZ shares down eight

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<v Speaker 3>and a half percent at the moment after their latest results.

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<v Speaker 1>Indeed, yeah, a disappointing set of numbers from them, So

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<v Speaker 1>shares actually planned the most on record this morning. So

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<v Speaker 1>first called sales grew, but essentially they took a hit

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<v Speaker 1>from the Eram war, so they grew five point six percent,

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<v Speaker 1>but they had been expected to grow more than seven percent.

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<v Speaker 1>That's partly as revenue from the Middle East itself fell

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<v Speaker 1>so from the region, but it also the war also

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<v Speaker 1>impacted sales elsewhere, so French, Swiss and UK stores in

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<v Speaker 1>particular all saw falls due to a lack of Middle

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<v Speaker 1>Eastern shoppers. And this is being seen all across the

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<v Speaker 1>ductury industry. So we also had carrying this morning their

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<v Speaker 1>first quarter sales also fell so and Gucci in particular

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<v Speaker 1>their sales tumbled down eight percent, which was almost double expectations,

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<v Speaker 1>and the war as a total for the group for

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<v Speaker 1>Caring had a one percentage point negative impact on overall sales.

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<v Speaker 1>And then we also had eldomh saying similar earlier this week,

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<v Speaker 1>so it's yeah, it's being seen across the ductury industry

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<v Speaker 1>and I'm really hitting their share prices this week.

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<v Speaker 4>Yeah, absolutely, even though they've opened obviously twenty fifth manufacturing

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<v Speaker 4>plant for their leather goods only a few weeks ago. Elsewhere,

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<v Speaker 4>m and A news Standard Life driving moves.

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<v Speaker 1>Yes. So Standard Life, the insurer listed in London, is

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<v Speaker 1>buying the Dutch insurer Egon's UK ARM. So that's for

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<v Speaker 1>a total of two billion pounds. So some of that

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<v Speaker 1>is cash and some of that is in new shares.

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<v Speaker 1>So there's been quite a long on running bidding process

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<v Speaker 1>for this against the lights of Lloyd's Bank and quite

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<v Speaker 1>a home to other people. But Standard Life came out

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<v Speaker 1>on top with that, so Egon will become a fifteen

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<v Speaker 1>just over fifteen percent shareholder of Standard Life. It adds

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<v Speaker 1>a lot of customers to Standard Life of almost four

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<v Speaker 1>million new customers and analysts are saying the price looks good,

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<v Speaker 1>so being welcomed. Shares slightly higher on the news. In

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<v Speaker 1>terms of kind of the wider context, it's, you know,

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<v Speaker 1>it's the latest deal in the insurance space. We've had

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<v Speaker 1>a Viva and Direct line last year. We had Zero

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<v Speaker 1>Insurance and Beasley earlier this year, so there's a lot

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<v Speaker 1>more competition in this space, particularly among UK pension providers.

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<v Speaker 1>Firms are trying to expand both their offerings and their

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<v Speaker 1>number of customers, so that's on the standard life side,

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<v Speaker 1>and then for egg On itself their focus, their focus

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<v Speaker 1>in general is to move to shift towards the US,

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<v Speaker 1>so benefiting both parties with this deal.

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<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

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