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 have a look at these stocks on the move
Speaker 3: today here in Europe. I'm Caroline Hepcat alongside Tom McKenzie,
Speaker 3: and we're joined by Bloomberg reporter Chloe Malay to talk
Speaker 3: about individual share prices moving and m Ands has gained
Speaker 3: after City upgraded the retailer.
Speaker 4: Why yeah, so Emins got that upgrade this morning.
Speaker 5: That really drove the shares.
Speaker 4: The company was obviously the victim of a massive cyber
Speaker 4: attack if we remember, that really paralyzed all of its
Speaker 4: operations for months, and it really weakened the share price.
Speaker 5: That was kind of over spring and summer.
Speaker 4: But what City analysts are saying now is that given
Speaker 4: that the shares are kind of well below the pre
Speaker 4: attack levels, it's really an attractive entry point for that business,
Speaker 4: which has actually really good underlying momentum. So it's fashion segment,
Speaker 4: for ext example, is gaining traction with young consumers, which
Speaker 4: is a really important consumer segment of course, and then
Speaker 4: in food mins is also seeing bigger baskets, and it's
Speaker 4: benefiting from consumers trading down from restaurants. So all of
Speaker 4: that means that MNS is actually quite well placed to
Speaker 4: outperform despite the macroeconomic uncertainty in the UK. And Eminis
Speaker 4: still has estimated the impact of that cyber attack on
Speaker 4: operating profit to be around three hundred million pounds, so
Speaker 4: this is still something that is quite important. But after
Speaker 4: some very tough times, it could be turning a corner.
Speaker 3: I was really surprised to read, well, maybe I shouldn't
Speaker 3: be surprised, but the boss of M and S and
Speaker 3: his whole top team apparently was sleeping in the office
Speaker 3: for weeks when that cyber attack happened. I think it
Speaker 3: was kind of a wake up call to UKPLC, wasn't it.
Speaker 3: The cost of cyber attacks can basically, you know, potentially
Speaker 3: sink your business.
Speaker 5: Yeah, if you're not careful. Absolutely.
Speaker 1: That was a reporting in the Economist. It's pretty interesting,
Speaker 1: wasn't it. They talked about everything from from the cream
Speaker 1: and tomato at cream and other cream and strawberry sandwiches
Speaker 1: that were fast to the fact that, to the fact
Speaker 1: and to your point, Chloe, that the M and S
Speaker 1: is now fashionable again. Yeah, there's no Dowdy outfits. This
Speaker 1: is a place where young people are going to shop
Speaker 1: M and S.
Speaker 5: Yeah, absolutely, I could attest to that. I'm shoved Chloe's
Speaker 5: going there.
Speaker 1: There are other retailers available, of course, we're also looking
Speaker 1: Insurance and Phoenix.
Speaker 5: Yeah, so Phoenix is down this morning.
Speaker 4: That is despite reporting actually a twenty five percent jump
Speaker 4: in profit.
Speaker 5: It'll also be estimates.
Speaker 4: It said that it's on track to meet financial targets,
Speaker 4: but perhaps some other numbers, perhaps cash generation, disappointed analysts.
Speaker 4: Perhaps it's also got something to do with the name change.
Speaker 4: So Phoenix won't be Phoenix for much longer. It's changing
Speaker 4: its name to Standard Life from March twenty twenty six,
Speaker 4: and that is in a bid to appeal to British
Speaker 4: savers and companies.
Speaker 5: Apparently, that's what it said.
Speaker 4: That is the name change that maybe investors are not
Speaker 4: reacting super kindly to.
Speaker 5: So that's that's what's happening with Phoenix this morning.
Speaker 3: And then Ryana actually not doing particularly well today.
Speaker 5: Why is that?
Speaker 4: So it's down this morning after it got downgraded to
Speaker 4: a neutral rating at Goldman. So the adlers said that
Speaker 4: previous catalysts have now kind of all played out for
Speaker 4: Ryanair and they expect profit for the fiscal second quarter
Speaker 4: to be below consensus. That fiscal second quarter being the
Speaker 4: summer quarter for Ryanair, that is due to some affairs
Speaker 4: being actually a little bit lower, higher costs related to
Speaker 4: a sustainable aviation fuel. Potentially winter quarters will be offsetting
Speaker 4: that weakness, but it's still there's still kind of a
Speaker 4: cautious view on fares going forward, and if we take
Speaker 4: this in context with the profit warning from jet To
Speaker 4: last week, there's kind of a signal potentially of some
Speaker 4: tough times ahead for that low cost airline space in
Speaker 4: the UK. So that's worth keeping an eye on how
Speaker 4: the summer quarter has gone for those companies when we
Speaker 4: get results starting in October time.
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