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 1: Well, let's take a look at some stocks on the
Speaker 1: move today in Europe. I'm Stephen Carroll and I'm joined
Speaker 1: by Bloomberg reporter Chloe Melet. Chloe, good morning. Let's start
Speaker 1: then with Fresnello, the gold and silver miner being hit
Speaker 1: by the precious metal seal off.
Speaker 3: Yeah.
Speaker 4: Absolutely, We've got used to seeing miners in the green
Speaker 4: for the last few weeks, but now there's quite a
Speaker 4: dramatic reversal and we are seeing those miners down the
Speaker 4: kind of across the.
Speaker 3: Board this morning.
Speaker 4: And as you mentioned Fresno, the golden silver minor, where
Speaker 4: we're also seeing in Deva Mining, glen Core, Anglo American
Speaker 4: all down this morning, and that is because a copper, gold,
Speaker 4: silver prices are all falling, reversing the massive rally that
Speaker 4: we had seen at the beginning of the year. And
Speaker 4: the cell off pretty started on Friday when Trump named
Speaker 4: Kevin Walsh as the next Vecha that this was seen
Speaker 4: as quite a hawkish pick, and that boosted the dollar
Speaker 4: and then led those commodity prices lower to really tumble
Speaker 4: from their record highs.
Speaker 3: And there's because wash getting the.
Speaker 4: Job essentially raises expectations of a title monetary policy and
Speaker 4: that is not necessarily favorable to commodities. And for example, gold,
Speaker 4: we saw the biggest plunge in more than a decade
Speaker 4: on Friday, so a really massive sell off that continues today,
Speaker 4: and that is having an impact on miners, of.
Speaker 3: Course, and this FED pick was really the trigger.
Speaker 4: But then the volatility of the market in the run
Speaker 4: up to that made extreme moves and prices very likely,
Speaker 4: and then it did end up happening. And now the
Speaker 4: direction of the market from here will really be determined
Speaker 4: by whether Chinese investors by the dip or not, so
Speaker 4: that will be really going to be the focus now.
Speaker 3: But in the meantime, we are seeing those miners in
Speaker 3: the end. Yeah.
Speaker 1: Indeed, for I look currently down by five point nine
Speaker 1: percent in the opposite direction. Now we've got Pandora shares
Speaker 1: up eight point three percent in co and Hagen this morning.
Speaker 3: A big job for the juiler. Yeah, So for every
Speaker 3: loser there is a winner.
Speaker 4: And the fact that silver prices are down, it's actually
Speaker 4: great news for a company like Pandora, which of.
Speaker 3: Course makes jewelry.
Speaker 4: The price of silver was actually a big concern before
Speaker 4: that this massive sell off, and on Friday we even
Speaker 4: saw Pandora being downgraded by SEB analysts because of that,
Speaker 4: with the analyst saying that the company was really taking
Speaker 4: a beating from the really high silver prices and then
Speaker 4: also the slowdown in the US market. But then chares
Speaker 4: actually rose on Friday because that downgrade was actually overshadowed
Speaker 4: by the massive sell off in precious metals, and that
Speaker 4: is continuing today and we're seeing Pandora shares really strong
Speaker 4: this morning because of that silver sell off, and that
Speaker 4: puts Pandora in quite good shape ahead of results later
Speaker 4: this week.
Speaker 3: Of course, the numbers may still be a little bit muted.
Speaker 4: We have we had preliminary numbers that indicated that sales
Speaker 4: growth was perhaps missing the guidance range.
Speaker 3: But the outlook might get a little.
Speaker 4: Brighter at least for now because because of those lower
Speaker 4: silver prices.
Speaker 1: Chloe, one of my favorite parts of this segment is
Speaker 1: where we get to talk about companies that we don't
Speaker 1: talk about very often. This morning, it's auction Technology down
Speaker 1: eight point seven percent, they accorded to the DAS function
Speaker 1: on the terminal operates an online curated marketplaces and propriety
Speaker 1: auction platform technology.
Speaker 3: Why are the shares down?
Speaker 4: Yeah, So it's an auction marketplace that essentially connects bidders, collectors, businesses.
Speaker 4: And it fell this morning because fitzwal To Capital said
Speaker 4: that it will not make another bid for the firm
Speaker 4: after its offer was rejected last week. So this kind
Speaker 4: of this all started earlier this year when Auction Technology
Speaker 4: as saying that it had rejected eleven unsolicited proposal from
Speaker 4: fitzwal To Capital and had rejected the latest offer because
Speaker 4: it fundamentally undervalued the company. And then Fitzwalter was then
Speaker 4: considering another off, an improved one, and then Auction Technology
Speaker 4: rejected that one too, saying that it still undervalues the company.
Speaker 4: And so now Fitzwalter is walking away completely and we're
Speaker 4: seeing investors be quite disappointed with that, and the shares
Speaker 4: falling very sharply for Auction Technology today.
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