1
00:00:02,520 --> 00:00:08,720
Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News, The.

2
00:00:08,720 --> 00:00:12,560
Speaker 2: Stock Movers Report, your roundup of companies making moves in

3
00:00:12,600 --> 00:00:16,239
Speaker 2: the stock market, harnessing the power of Bloomberg Data.

4
00:00:16,560 --> 00:00:18,120
Speaker 3: Let's have a look at these stocks on the move

5
00:00:18,160 --> 00:00:21,080
Speaker 3: today here in Europe. I'm Caroline Hepcat alongside Tom McKenzie,

6
00:00:21,079 --> 00:00:23,880
Speaker 3: and we're joined by Bloomberg reporter Chloe Malay to talk

7
00:00:23,880 --> 00:00:28,160
Speaker 3: about individual share prices moving and m Ands has gained

8
00:00:28,200 --> 00:00:30,120
Speaker 3: after City upgraded the retailer.

9
00:00:30,160 --> 00:00:33,240
Speaker 4: Why yeah, so Emins got that upgrade this morning.

10
00:00:33,240 --> 00:00:34,960
Speaker 5: That really drove the shares.

11
00:00:35,360 --> 00:00:37,920
Speaker 4: The company was obviously the victim of a massive cyber

12
00:00:37,960 --> 00:00:41,360
Speaker 4: attack if we remember, that really paralyzed all of its

13
00:00:41,360 --> 00:00:44,560
Speaker 4: operations for months, and it really weakened the share price.

14
00:00:44,640 --> 00:00:46,320
Speaker 5: That was kind of over spring and summer.

15
00:00:46,880 --> 00:00:49,520
Speaker 4: But what City analysts are saying now is that given

16
00:00:49,560 --> 00:00:51,919
Speaker 4: that the shares are kind of well below the pre

17
00:00:52,000 --> 00:00:56,040
Speaker 4: attack levels, it's really an attractive entry point for that business,

18
00:00:56,040 --> 00:00:59,640
Speaker 4: which has actually really good underlying momentum. So it's fashion segment,

19
00:00:59,680 --> 00:01:02,720
Speaker 4: for ext example, is gaining traction with young consumers, which

20
00:01:02,720 --> 00:01:05,560
Speaker 4: is a really important consumer segment of course, and then

21
00:01:05,560 --> 00:01:08,440
Speaker 4: in food mins is also seeing bigger baskets, and it's

22
00:01:08,440 --> 00:01:12,520
Speaker 4: benefiting from consumers trading down from restaurants. So all of

23
00:01:12,520 --> 00:01:15,000
Speaker 4: that means that MNS is actually quite well placed to

24
00:01:15,040 --> 00:01:20,120
Speaker 4: outperform despite the macroeconomic uncertainty in the UK. And Eminis

25
00:01:20,200 --> 00:01:23,000
Speaker 4: still has estimated the impact of that cyber attack on

26
00:01:23,080 --> 00:01:26,480
Speaker 4: operating profit to be around three hundred million pounds, so

27
00:01:26,600 --> 00:01:29,479
Speaker 4: this is still something that is quite important. But after

28
00:01:29,520 --> 00:01:31,800
Speaker 4: some very tough times, it could be turning a corner.

29
00:01:32,000 --> 00:01:34,720
Speaker 3: I was really surprised to read, well, maybe I shouldn't

30
00:01:34,720 --> 00:01:36,760
Speaker 3: be surprised, but the boss of M and S and

31
00:01:36,880 --> 00:01:39,119
Speaker 3: his whole top team apparently was sleeping in the office

32
00:01:39,120 --> 00:01:42,000
Speaker 3: for weeks when that cyber attack happened. I think it

33
00:01:42,040 --> 00:01:46,600
Speaker 3: was kind of a wake up call to UKPLC, wasn't it.

34
00:01:46,840 --> 00:01:50,840
Speaker 3: The cost of cyber attacks can basically, you know, potentially

35
00:01:51,160 --> 00:01:52,000
Speaker 3: sink your business.

36
00:01:52,080 --> 00:01:54,200
Speaker 5: Yeah, if you're not careful. Absolutely.

37
00:01:54,240 --> 00:01:55,960
Speaker 1: That was a reporting in the Economist. It's pretty interesting,

38
00:01:55,960 --> 00:01:58,840
Speaker 1: wasn't it. They talked about everything from from the cream

39
00:01:58,880 --> 00:02:02,120
Speaker 1: and tomato at cream and other cream and strawberry sandwiches

40
00:02:02,120 --> 00:02:05,840
Speaker 1: that were fast to the fact that, to the fact

41
00:02:05,840 --> 00:02:08,120
Speaker 1: and to your point, Chloe, that the M and S

42
00:02:08,240 --> 00:02:11,400
Speaker 1: is now fashionable again. Yeah, there's no Dowdy outfits. This

43
00:02:11,600 --> 00:02:13,280
Speaker 1: is a place where young people are going to shop

44
00:02:13,400 --> 00:02:13,679
Speaker 1: M and S.

45
00:02:13,840 --> 00:02:19,480
Speaker 5: Yeah, absolutely, I could attest to that. I'm shoved Chloe's

46
00:02:19,480 --> 00:02:19,840
Speaker 5: going there.

47
00:02:20,120 --> 00:02:22,839
Speaker 1: There are other retailers available, of course, we're also looking

48
00:02:22,880 --> 00:02:23,840
Speaker 1: Insurance and Phoenix.

49
00:02:23,960 --> 00:02:25,800
Speaker 5: Yeah, so Phoenix is down this morning.

50
00:02:25,919 --> 00:02:29,360
Speaker 4: That is despite reporting actually a twenty five percent jump

51
00:02:29,400 --> 00:02:30,200
Speaker 4: in profit.

52
00:02:30,680 --> 00:02:31,800
Speaker 5: It'll also be estimates.

53
00:02:31,800 --> 00:02:34,400
Speaker 4: It said that it's on track to meet financial targets,

54
00:02:34,480 --> 00:02:38,120
Speaker 4: but perhaps some other numbers, perhaps cash generation, disappointed analysts.

55
00:02:38,360 --> 00:02:40,960
Speaker 4: Perhaps it's also got something to do with the name change.

56
00:02:41,000 --> 00:02:43,919
Speaker 4: So Phoenix won't be Phoenix for much longer. It's changing

57
00:02:43,919 --> 00:02:47,000
Speaker 4: its name to Standard Life from March twenty twenty six,

58
00:02:47,080 --> 00:02:49,440
Speaker 4: and that is in a bid to appeal to British

59
00:02:49,440 --> 00:02:50,560
Speaker 4: savers and companies.

60
00:02:50,600 --> 00:02:51,840
Speaker 5: Apparently, that's what it said.

61
00:02:52,800 --> 00:02:54,640
Speaker 4: That is the name change that maybe investors are not

62
00:02:54,680 --> 00:02:56,560
Speaker 4: reacting super kindly to.

63
00:02:56,720 --> 00:02:59,480
Speaker 5: So that's that's what's happening with Phoenix this morning.

64
00:03:01,040 --> 00:03:05,280
Speaker 3: And then Ryana actually not doing particularly well today.

65
00:03:05,360 --> 00:03:05,919
Speaker 5: Why is that?

66
00:03:06,600 --> 00:03:09,080
Speaker 4: So it's down this morning after it got downgraded to

67
00:03:09,280 --> 00:03:11,880
Speaker 4: a neutral rating at Goldman. So the adlers said that

68
00:03:11,960 --> 00:03:14,480
Speaker 4: previous catalysts have now kind of all played out for

69
00:03:15,040 --> 00:03:19,240
Speaker 4: Ryanair and they expect profit for the fiscal second quarter

70
00:03:19,800 --> 00:03:22,760
Speaker 4: to be below consensus. That fiscal second quarter being the

71
00:03:23,120 --> 00:03:27,120
Speaker 4: summer quarter for Ryanair, that is due to some affairs

72
00:03:27,160 --> 00:03:30,240
Speaker 4: being actually a little bit lower, higher costs related to

73
00:03:30,440 --> 00:03:35,200
Speaker 4: a sustainable aviation fuel. Potentially winter quarters will be offsetting

74
00:03:35,240 --> 00:03:37,760
Speaker 4: that weakness, but it's still there's still kind of a

75
00:03:37,800 --> 00:03:40,520
Speaker 4: cautious view on fares going forward, and if we take

76
00:03:40,520 --> 00:03:43,000
Speaker 4: this in context with the profit warning from jet To

77
00:03:43,520 --> 00:03:46,480
Speaker 4: last week, there's kind of a signal potentially of some

78
00:03:46,600 --> 00:03:50,200
Speaker 4: tough times ahead for that low cost airline space in

79
00:03:50,240 --> 00:03:52,960
Speaker 4: the UK. So that's worth keeping an eye on how

80
00:03:52,960 --> 00:03:55,600
Speaker 4: the summer quarter has gone for those companies when we

81
00:03:55,640 --> 00:03:57,840
Speaker 4: get results starting in October time.

82
00:03:58,960 --> 00:04:03,160
Speaker 2: This stock movers from Bloomberg Radio. Check back with us

83
00:04:03,240 --> 00:04:06,040
Speaker 2: throughout the day for the latest roundup of companies making

84
00:04:06,120 --> 00:04:09,720
Speaker 2: news on Wall Street and for the latest market moving headlines.

85
00:04:09,920 --> 00:04:13,920
Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

86
00:04:14,000 --> 00:04:17,039
Speaker 2: dot com, and on Applecarplay and Android Auto with the

87
00:04:17,080 --> 00:04:18,440
Speaker 2: Bloomberg Business app.