Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Well, let's take a look at some stocks on the
Speaker 3: move today in Europe. I'm Stephen Kaa with Caroline Hepbrom.
Speaker 3: We're joined for that Ba Bloomberg's Breaking news editor at
Speaker 3: Louise Moon. Louise, let's start with OURMEZ shares down eight
Speaker 3: and a half percent at the moment after their latest results.
Speaker 1: Indeed, yeah, a disappointing set of numbers from them, So
Speaker 1: shares actually planned the most on record this morning. So
Speaker 1: first called sales grew, but essentially they took a hit
Speaker 1: from the Eram war, so they grew five point six percent,
Speaker 1: but they had been expected to grow more than seven percent.
Speaker 1: That's partly as revenue from the Middle East itself fell
Speaker 1: so from the region, but it also the war also
Speaker 1: impacted sales elsewhere, so French, Swiss and UK stores in
Speaker 1: particular all saw falls due to a lack of Middle
Speaker 1: Eastern shoppers. And this is being seen all across the
Speaker 1: ductury industry. So we also had carrying this morning their
Speaker 1: first quarter sales also fell so and Gucci in particular
Speaker 1: their sales tumbled down eight percent, which was almost double expectations,
Speaker 1: and the war as a total for the group for
Speaker 1: Caring had a one percentage point negative impact on overall sales.
Speaker 1: And then we also had eldomh saying similar earlier this week,
Speaker 1: so it's yeah, it's being seen across the ductury industry
Speaker 1: and I'm really hitting their share prices this week.
Speaker 4: Yeah, absolutely, even though they've opened obviously twenty fifth manufacturing
Speaker 4: plant for their leather goods only a few weeks ago. Elsewhere,
Speaker 4: m and A news Standard Life driving moves.
Speaker 1: Yes. So Standard Life, the insurer listed in London, is
Speaker 1: buying the Dutch insurer Egon's UK ARM. So that's for
Speaker 1: a total of two billion pounds. So some of that
Speaker 1: is cash and some of that is in new shares.
Speaker 1: So there's been quite a long on running bidding process
Speaker 1: for this against the lights of Lloyd's Bank and quite
Speaker 1: a home to other people. But Standard Life came out
Speaker 1: on top with that, so Egon will become a fifteen
Speaker 1: just over fifteen percent shareholder of Standard Life. It adds
Speaker 1: a lot of customers to Standard Life of almost four
Speaker 1: million new customers and analysts are saying the price looks good,
Speaker 1: so being welcomed. Shares slightly higher on the news. In
Speaker 1: terms of kind of the wider context, it's, you know,
Speaker 1: it's the latest deal in the insurance space. We've had
Speaker 1: a Viva and Direct line last year. We had Zero
Speaker 1: Insurance and Beasley earlier this year, so there's a lot
Speaker 1: more competition in this space, particularly among UK pension providers.
Speaker 1: Firms are trying to expand both their offerings and their
Speaker 1: number of customers, so that's on the standard life side,
Speaker 1: and then for egg On itself their focus, their focus
Speaker 1: in general is to move to shift towards the US,
Speaker 1: so benefiting both parties with this deal.
Speaker 2: The Stock Mover's Report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news and on and for the latest market moving headlines.
Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg
Speaker 2: dot com, and on Applecarplay and Android Auto with the
Speaker 2: Bloomberg Business app.