1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,119 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,440 --> 00:00:18,840 Speaker 3: Let's take a look at some of the stocks on 5 00:00:18,880 --> 00:00:20,840 Speaker 3: the move today here in Europe. I'm Caroline Hep you 6 00:00:20,920 --> 00:00:23,959 Speaker 3: alongside Valerie Title, and we're joined by Bloomberg's Breaking News 7 00:00:24,040 --> 00:00:25,120 Speaker 3: editor Chloe Malay. 8 00:00:25,160 --> 00:00:26,239 Speaker 4: Good morning, Chloe. 9 00:00:26,560 --> 00:00:29,960 Speaker 3: Let's start off by talking about Burbery. I had to 10 00:00:30,000 --> 00:00:33,680 Speaker 3: do a quick Google search of a Burbery trench code, 11 00:00:33,720 --> 00:00:36,280 Speaker 3: so I can go anywhere from a conservative eleven hundred 12 00:00:36,320 --> 00:00:40,479 Speaker 3: pounds up to whopping nearly ten grand for a Burbery 13 00:00:40,520 --> 00:00:43,400 Speaker 3: trench code. Tell us about the results from the business 14 00:00:43,400 --> 00:00:46,360 Speaker 3: and why the trench code is quite important now. 15 00:00:46,360 --> 00:00:50,000 Speaker 1: Yeah, absolutely so. Burbury had quite a good report this morning. 16 00:00:50,080 --> 00:00:52,919 Speaker 1: So the sales did fall over the quarter, but crucially 17 00:00:53,000 --> 00:00:54,480 Speaker 1: much less than expecting. 18 00:00:54,560 --> 00:00:57,080 Speaker 4: That really pushed up the stock this morning. 19 00:00:57,120 --> 00:01:00,480 Speaker 1: It seems that there's the ongoing turnaround that stuff last 20 00:01:00,520 --> 00:01:03,320 Speaker 1: year under the new CEO is starting to bear fruit. 21 00:01:03,440 --> 00:01:06,240 Speaker 1: So you've mentioned trench codes, that revival, that kind of 22 00:01:06,280 --> 00:01:10,440 Speaker 1: turn around is hinging on, that kind of return to Britishness. 23 00:01:10,440 --> 00:01:13,399 Speaker 1: So the trench code, the scarves that have that have 24 00:01:13,560 --> 00:01:16,480 Speaker 1: really made Barbary really famous, and moving away from kind 25 00:01:16,480 --> 00:01:19,520 Speaker 1: of expensive handbags that for into other things that have 26 00:01:19,560 --> 00:01:23,680 Speaker 1: not really resonated as much with customers. So that's quite positive. 27 00:01:23,720 --> 00:01:27,160 Speaker 1: That's pushed up the stock higher this morning. There are 28 00:01:27,200 --> 00:01:31,000 Speaker 1: obviously some some negatives as well. So the CEO said 29 00:01:31,000 --> 00:01:33,720 Speaker 1: that that people were still not really shopping in the UK, 30 00:01:33,800 --> 00:01:36,000 Speaker 1: and he said that obviously tariffs and the and sergty 31 00:01:36,040 --> 00:01:39,479 Speaker 1: that comes with that were still a big headwind. So far, 32 00:01:39,560 --> 00:01:41,760 Speaker 1: Barbary had been kind of on the tougher end of 33 00:01:42,000 --> 00:01:45,520 Speaker 1: that luxury sector, alongside Gucci for example, kind of struggling 34 00:01:45,520 --> 00:01:48,640 Speaker 1: to revive those sales. But it seems that now the 35 00:01:48,680 --> 00:01:51,560 Speaker 1: plan to kind of turn around the business is on track. 36 00:01:52,200 --> 00:01:54,720 Speaker 1: It's not completely out of the woods, but definitely on 37 00:01:54,800 --> 00:01:55,480 Speaker 1: the right path. 38 00:01:55,640 --> 00:01:55,720 Speaker 3: Right. 39 00:01:55,800 --> 00:01:59,440 Speaker 2: Let's go over to basic resources where there's steelmaker. Slazenger 40 00:02:00,120 --> 00:02:02,360 Speaker 2: was nearly a quarter of its value this morning. 41 00:02:02,520 --> 00:02:05,040 Speaker 1: Yeah, so the profit warning from the stale produced starts 42 00:02:05,080 --> 00:02:05,880 Speaker 1: get this morning. 43 00:02:06,360 --> 00:02:08,400 Speaker 4: It felt the most in almost three years. 44 00:02:08,800 --> 00:02:11,040 Speaker 1: It said that there's a little sign of any kind 45 00:02:11,080 --> 00:02:13,400 Speaker 1: of recovery over the second half of the year, and 46 00:02:13,520 --> 00:02:16,079 Speaker 1: it slash it is four year guidance that also took 47 00:02:16,120 --> 00:02:19,360 Speaker 1: down the shares of other steel producers like a bigger 48 00:02:19,440 --> 00:02:22,680 Speaker 1: name Acela, Mitel and as Serene Ox and ass are 49 00:02:22,680 --> 00:02:25,560 Speaker 1: fag thinking that European the European style sector is facing 50 00:02:25,600 --> 00:02:28,720 Speaker 1: quite a lot of weakness. There's loads of different reasons 51 00:02:28,720 --> 00:02:31,840 Speaker 1: for that. The first one is obviously exposure to the 52 00:02:31,880 --> 00:02:36,480 Speaker 1: automotive and construction sector, which are quite weak and are facing. 53 00:02:36,120 --> 00:02:37,280 Speaker 4: A downtown at the moment. 54 00:02:37,720 --> 00:02:41,560 Speaker 1: There's volatile energy prices that are also weighing on this, 55 00:02:41,880 --> 00:02:44,360 Speaker 1: and of course all the uncertainties that come with the 56 00:02:44,400 --> 00:02:47,240 Speaker 1: trade war. Obviously, steel is one of those sectors that 57 00:02:47,320 --> 00:02:49,600 Speaker 1: was singled out by Trump for tariffs and it has 58 00:02:49,639 --> 00:02:50,800 Speaker 1: suffered as a result. 59 00:02:51,560 --> 00:02:55,120 Speaker 3: Okay, and kind of related to this in the industrials, well, 60 00:02:55,120 --> 00:02:58,359 Speaker 3: it's categorizes in the industrials. If you break down the 61 00:02:58,480 --> 00:03:02,680 Speaker 3: ustox six hundred is Saab Sweden. Saab seeing a big 62 00:03:02,800 --> 00:03:06,920 Speaker 3: jump in its share price today with European defense spending. 63 00:03:07,120 --> 00:03:10,080 Speaker 1: Why yeah, so SAB is a student is having a 64 00:03:10,080 --> 00:03:13,760 Speaker 1: good time this morning. It raises forecast for organic revenue, 65 00:03:13,800 --> 00:03:17,280 Speaker 1: so it's planning on growth to reach as high as 66 00:03:17,320 --> 00:03:18,839 Speaker 1: twenty percent for this year. 67 00:03:18,919 --> 00:03:20,240 Speaker 4: So it's really really high. 68 00:03:20,240 --> 00:03:22,600 Speaker 1: Obviously, that's off the back, of course, of really strong 69 00:03:22,639 --> 00:03:24,960 Speaker 1: defense spending in Europe, as you just mentioned, and that's 70 00:03:25,000 --> 00:03:28,720 Speaker 1: brightening the outlook for all kinds of European defense companies 71 00:03:28,840 --> 00:03:32,280 Speaker 1: across the region. It's a fighter jet program in particular, 72 00:03:32,320 --> 00:03:34,800 Speaker 1: has seen some momentum recently. There's been a rise in 73 00:03:34,920 --> 00:03:38,480 Speaker 1: orders from different countries, so there's a boost there. Obviously, 74 00:03:38,480 --> 00:03:41,560 Speaker 1: the translation of kind of spending and defense planning over 75 00:03:41,600 --> 00:03:44,800 Speaker 1: to procurement take some time. It doesn't happen overnight, but 76 00:03:44,920 --> 00:03:48,520 Speaker 1: it definitely is lifting kind of investor sentiment in this sector. 77 00:03:48,880 --> 00:03:52,280 Speaker 1: We're probably expecting good results from the rest of that 78 00:03:52,400 --> 00:03:56,120 Speaker 1: industry going further into the earning season. We've got Tellis 79 00:03:56,280 --> 00:03:59,200 Speaker 1: Ba Ryan Mattu coming in the next few weeks, so 80 00:03:59,200 --> 00:04:01,200 Speaker 1: we'll be keeping an eye on those in expecting good 81 00:04:01,200 --> 00:04:01,800 Speaker 1: results there. 82 00:04:03,000 --> 00:04:07,320 Speaker 2: The Stockmovers podcast from Bloomberg Radio. Check back with us 83 00:04:07,360 --> 00:04:10,280 Speaker 2: throughout the day for the latest roundup of companies making 84 00:04:10,360 --> 00:04:13,920 Speaker 2: news on Wall Street and for the latest market moving headlines. 85 00:04:14,080 --> 00:04:18,000 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 86 00:04:18,080 --> 00:04:20,880 Speaker 2: dot com, and on Applecarplay and Android Auto with the 87 00:04:20,880 --> 00:04:22,279 Speaker 2: Bloomberg Business app.