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: Let's take a look at some stocks on the move
Speaker 3: today in Europe with Louise Moon. I'm Stephen Carroll, Louise.
Speaker 3: Good morning. Let's start with rieschmant shares seven percent hire
Speaker 3: this morning after their latest earnings update.
Speaker 1: Indeed, they had their first half results this morning, beating
Speaker 1: estimates essentially across the board, but the standout sector was
Speaker 1: really their jewelry division, so that was sales in their
Speaker 1: jurry division was up fourteen percent, so that helped overall
Speaker 1: sales rise about ten percent in their first half. To
Speaker 1: anless is saying that jewelry remains and I quote, a
Speaker 1: remarkable locomotive for growth and that these results confirmed that
Speaker 1: the company as a whole is the fastest growing within
Speaker 1: the luxury sector. And if you look back, they've really
Speaker 1: withstood the luxury downturn five better than the rivals, and
Speaker 1: that is largely due to the jewelry.
Speaker 4: Their jewelry obviously is at.
Speaker 1: Very high value and it's seen as a better store
Speaker 1: of value than kind of expensive clothes or leather goods
Speaker 1: that other luxury companies might be selling. So the stock
Speaker 1: is up seventeen percent this year. There is of course
Speaker 1: a bit of headwinds from tariffs, and they have said
Speaker 1: this morning they expect quite a sizable hit from that,
Speaker 1: but they'rewithstanding that. So stock up seventeen percent this year
Speaker 1: and soaring as you say this morning, and looking back,
Speaker 1: as I say, really outperforming the wider luxury sector. And
Speaker 1: then if you kind of take a step back and
Speaker 1: look at their peers or their rivals results recently, it
Speaker 1: paints quite a similar picture. So LVMHDAL or Burberry pointing
Speaker 1: to kind of starting things starting to improve. Essentially, there's
Speaker 1: hopes that this broader slump might be subsiding, but reached
Speaker 1: one is really the standout among them.
Speaker 3: Yeah, and be interesting to see that movement in the
Speaker 3: share price this morning, and other companies shares are soaring today.
Speaker 3: Ppat Hotel group listed in London looking at some options
Speaker 3: for real estate investment.
Speaker 4: Yeah, so it's quite an interesting answer.
Speaker 1: This is a group that's behind Park Plaza hotels in
Speaker 1: Europe and they own a lot of hotels across Europe.
Speaker 1: So their biggest shareholders considering options over their stake, so
Speaker 1: they said this morning they could either contribute more capital
Speaker 1: or sell some of their stakes, so holding meetings with
Speaker 1: financial investors to discuss options. We reported overnight that they've
Speaker 1: approached buyout firms about possibly taking the company private. So
Speaker 1: details are kind of unclear as well as any timings,
Speaker 1: and of course there isn't any certainty over whether any
Speaker 1: offers will be made. They say they haven't got any
Speaker 1: offers yet, but they are calling themselves in an offer period,
Speaker 1: so shares, as you say, rising on the back of that.
Speaker 1: They didn't give much reason as to why they are
Speaker 1: trading at quite a big discount to their valuation of their
Speaker 1: own portfolio, so potentially, you know, that could be one reason.
Speaker 1: And also these Biggert shaholders, they have been with the
Speaker 1: company for quite a long time. One of them has
Speaker 1: been there since nineteen ninety one, so again potentially a reason,
Speaker 1: but they haven't given much so we'll be closely tracking
Speaker 1: that one to see what happens, if and what happens.
Speaker 3: Yeah, indeed want to keep an eye on as well.
Speaker 3: And some shares that aren't trading this morning, Louise, and
Speaker 3: that's in you BEI staff to what's happened.
Speaker 4: Yeah, the French gaming company.
Speaker 1: So they're behind games like Assassin's Creed, which obviously very
Speaker 1: well known. They've delayed their first self financial results and
Speaker 1: this was just so they were meant to report today
Speaker 1: and they delayed them just before they were meant to
Speaker 1: be released.
Speaker 4: They haven't said much, they haven't given any reason.
Speaker 1: They just said they'll publish in the coming days and
Speaker 1: they've also asked for trading to be halted in France
Speaker 1: until those results are published. In a memo to staff,
Speaker 1: they say they were taking extra time to finalize the
Speaker 1: closing of the of the first half of these results.
Speaker 1: But this could so There's already been a lot of
Speaker 1: concerns around Ubisoft, so this could escalate those concerns. For example,
Speaker 1: in May, they said they needed more time to develop
Speaker 1: some of their big titles and they forecast that no
Speaker 1: revenue growth would happen for the full year. And their
Speaker 1: shares already down forty nine percent this year, and if
Speaker 1: you look further back, they're way down from a peak
Speaker 1: in twenty eighteen, about ninety three percent off that. So
Speaker 1: we'll be keeping an eye for when they'll be reporting.
Speaker 1: But as I say, that could escalate concerns and extend
Speaker 1: setbacks that they've experienced recently.
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