1 00:00:00,080 --> 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 00:00:18,239 --> 00:00:20,160 Speaker 3: Let's take a look at some stocks on the move 5 00:00:20,200 --> 00:00:23,000 Speaker 3: today in Europe. I'm Tom McKenzie with Caroline Hepcker. Were 6 00:00:23,079 --> 00:00:27,080 Speaker 3: joined by Bloomberg's Equities reporter Joe Easton and Joe A 7 00:00:27,160 --> 00:00:31,160 Speaker 3: bad morning for Doc Martin's. Is there trouble of foot? 8 00:00:31,280 --> 00:00:31,960 Speaker 2: Did you write that? 9 00:00:32,080 --> 00:00:34,600 Speaker 1: I didn't, but I wish I did, because that's fantastic. 10 00:00:34,720 --> 00:00:37,560 Speaker 1: Shout out to James in production from the producer because 11 00:00:37,600 --> 00:00:38,239 Speaker 1: that was brilliant. 12 00:00:39,000 --> 00:00:39,240 Speaker 3: Bet. 13 00:00:39,240 --> 00:00:42,320 Speaker 1: Doc Martin's putting the boot in this morning. That's stock 14 00:00:42,440 --> 00:00:45,440 Speaker 1: down today. This is on the tariff news that we 15 00:00:45,560 --> 00:00:50,720 Speaker 1: got overnights. So the big news is the Southeast Asia 16 00:00:50,720 --> 00:00:54,920 Speaker 1: countries getting these huge tariffs announced by Trump and the US, 17 00:00:54,960 --> 00:01:00,680 Speaker 1: so seventy six percent rate slapped on countries including Thailand 18 00:01:00,680 --> 00:01:05,720 Speaker 1: and also Cambodia. Now Doc Martin's in particular, they make 19 00:01:05,760 --> 00:01:08,560 Speaker 1: a lot of their boots over in Lao, which is 20 00:01:08,600 --> 00:01:11,360 Speaker 1: another country that's had a big tariff pit on as well. 21 00:01:11,400 --> 00:01:15,080 Speaker 3: I believe that was as well. You shouldn't be right. 22 00:01:15,160 --> 00:01:17,440 Speaker 4: Yeah, I was trying to work out why you were 23 00:01:17,480 --> 00:01:20,399 Speaker 4: starting with tariffs there and what the connection was to. 24 00:01:20,400 --> 00:01:22,920 Speaker 1: Do solo Low, I am pronouncing that correctly. 25 00:01:23,280 --> 00:01:23,840 Speaker 3: Lao Laos. 26 00:01:23,920 --> 00:01:26,399 Speaker 1: Yeah, so they make a lot of those boots over 27 00:01:26,440 --> 00:01:29,319 Speaker 1: in Lao, and therefore the stock is down around five percent. 28 00:01:29,360 --> 00:01:33,680 Speaker 1: Pandora makes ninety five percent of its jewelry in Thailand 29 00:01:34,240 --> 00:01:36,680 Speaker 1: and the shares of those are down around two percent 30 00:01:36,720 --> 00:01:38,880 Speaker 1: this morning as well. So a lot of impact from 31 00:01:38,920 --> 00:01:39,640 Speaker 1: those tariffs. 32 00:01:39,800 --> 00:01:40,039 Speaker 3: Yeah. 33 00:01:40,080 --> 00:01:42,240 Speaker 4: Well, most of the kind of shoemaking industry is in 34 00:01:42,640 --> 00:01:46,080 Speaker 4: Asia for Europe, to be honest. In terms of European 35 00:01:46,240 --> 00:01:51,920 Speaker 4: drinks makers, the reports that this EU US trade deal 36 00:01:52,040 --> 00:01:54,640 Speaker 4: may also be reaching that there would be a kind 37 00:01:54,680 --> 00:01:57,840 Speaker 4: of carve out for wine and spirits makers. Does that 38 00:01:58,200 --> 00:01:58,720 Speaker 4: lift them? 39 00:01:59,000 --> 00:02:02,280 Speaker 1: Yeah, so that is exactly what we're seeing today. So 40 00:02:02,720 --> 00:02:05,840 Speaker 1: the reports that have come from Bloomberg and also Politico 41 00:02:06,000 --> 00:02:09,640 Speaker 1: saying that the EU is seeking an exemption on the 42 00:02:09,760 --> 00:02:14,280 Speaker 1: ten percent rate for certain key products including aircrafts and 43 00:02:14,360 --> 00:02:17,320 Speaker 1: also wines and spirits. So today were seeing Remy Couantro 44 00:02:17,720 --> 00:02:20,560 Speaker 1: gaining around four percent, Pero up four percent, and campari 45 00:02:20,720 --> 00:02:24,880 Speaker 1: as well. Now these are big reliefs for these companies 46 00:02:24,880 --> 00:02:28,800 Speaker 1: according to traders, so Perno makes products like Absolute vodka, 47 00:02:28,960 --> 00:02:32,560 Speaker 1: Jamison whiskey, and Remy with their main cognac business, and 48 00:02:32,600 --> 00:02:36,160 Speaker 1: also Campari, which is of course the maker of apparol. 49 00:02:36,240 --> 00:02:39,040 Speaker 1: Those are the big brands, and they also sell a 50 00:02:39,080 --> 00:02:42,800 Speaker 1: lot into the US. So given they're seeking exemptions the 51 00:02:42,800 --> 00:02:45,880 Speaker 1: EU seeking exemptions, that's boosting the entire sector today. 52 00:02:46,120 --> 00:02:49,120 Speaker 3: Okay, a different space. JP Morgan this time resuming an 53 00:02:49,240 --> 00:02:55,480 Speaker 3: overweight recommendation on the commodities giant Glencore and investors cheering 54 00:02:55,520 --> 00:02:57,359 Speaker 3: this backing from JP Morgan yees. 55 00:02:57,400 --> 00:03:00,520 Speaker 1: So it's interesting because JPM is saying that I think 56 00:03:00,639 --> 00:03:03,760 Speaker 1: glen Core could resurrect the idea of spinning off their 57 00:03:03,800 --> 00:03:05,639 Speaker 1: coal business. So a couple of years ago we saw 58 00:03:05,639 --> 00:03:09,079 Speaker 1: glen Core say they might sell their coal business because 59 00:03:09,400 --> 00:03:12,040 Speaker 1: coal is kind of not so much use for energy, 60 00:03:12,080 --> 00:03:16,239 Speaker 1: still used in steelmaking, which is where they do the 61 00:03:16,280 --> 00:03:18,840 Speaker 1: business in Cole. So there is a lot of value 62 00:03:18,880 --> 00:03:21,680 Speaker 1: in Cole still because it's used for metal making. But 63 00:03:21,800 --> 00:03:23,480 Speaker 1: glen Core said a few years ago they would spin 64 00:03:23,520 --> 00:03:27,000 Speaker 1: it off. They then decided they wouldn't. JP Morgan reckons 65 00:03:27,000 --> 00:03:29,800 Speaker 1: investors are kind of getting itchy feet and kind of 66 00:03:29,840 --> 00:03:32,800 Speaker 1: pushing for them to do this. Therefore, they recommend buying 67 00:03:32,800 --> 00:03:36,080 Speaker 1: the stock see around twenty percent upside and glen Core 68 00:03:36,120 --> 00:03:38,440 Speaker 1: shares rising two and a half per cent this morning 69 00:03:38,520 --> 00:03:41,080 Speaker 1: following that JP Morgan overweight rating. 70 00:03:42,320 --> 00:03:46,440 Speaker 2: The Stock Movers podcast from Bloomberg Radio. 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