WEBVTT - LVMH Soars, PageGroup Rises, RENK Group Slides

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some of the stocks on

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<v Speaker 3>the move today in Europe. I'm Stephen Caroll and we're

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<v Speaker 3>joined now by Bloomberg's Breaking News editor Louise Moon. Louise,

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<v Speaker 3>let's start with the luxury moves. LVMH surging almost fourteen

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<v Speaker 3>percent higher in Paris now in a wider rally to

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<v Speaker 3>in the luxury sector.

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<v Speaker 1>Tell us more indeed, Yeah, So essentially this is an

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<v Speaker 1>unexpected return to sales growth. They had their third quarter

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<v Speaker 1>results this morning, stronger than expected performance across the board,

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<v Speaker 1>and essentially anless is saying this is an encouraging trend,

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<v Speaker 1>So you know, it's it's an improvement in relation to

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<v Speaker 1>the wider sector. They're suggesting that it's a return to

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<v Speaker 1>growth could be possible next year. That they're citing quite

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<v Speaker 1>a confident tone for twenty twenty six, and notably as

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<v Speaker 1>part of these kind of encouraging trends, notably in China,

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<v Speaker 1>which is a key market for LVMH. And as you say,

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<v Speaker 1>it led to peers also surging. So the likes of

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<v Speaker 1>Burbery caring also far higher across the board. So shares

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<v Speaker 1>in LVMH rising on that unexpected positive news, A step

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<v Speaker 1>in the right direction.

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<v Speaker 3>Yeah, indeed, I'm lifting the whole cat car Onto index

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<v Speaker 3>as well, up two point three percent. Let's turn then

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<v Speaker 3>to the UK and Page Group shares rising. This is

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<v Speaker 3>in the recruitment sector. What do we learn from them?

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<v Speaker 1>Indeed, Yeah, so it's been quite a closely watched sector

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<v Speaker 1>at the moment. Page Group had their third quarter results

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<v Speaker 1>today and it follows two of their peers, So we

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<v Speaker 1>had Hayes last week and Robert Waters yesterday and essentially

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<v Speaker 1>it's together they're pointing to this trend of the market

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<v Speaker 1>starting to improve. It's been really battered over the past

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<v Speaker 1>year longer, and their results collectively are showing kind of

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<v Speaker 1>slight up upbeat market. So Page Group this morning a

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<v Speaker 1>milder drop in gross profits in the third quarter when

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<v Speaker 1>you compare it to the first half, and as I

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<v Speaker 1>say that, that's kind of showing that the market is

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<v Speaker 1>starting to improve. They said that the European market is

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<v Speaker 1>still tough. They noted what they call subdued confidence and

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<v Speaker 1>sentiment but the US and Asia are stable. They're saying

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<v Speaker 1>clients are still risk averse. You know, budgets are tightening,

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<v Speaker 1>but they're on track to hit their four year goals

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<v Speaker 1>that they're also doing a lot of cost cutting work.

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<v Speaker 1>So shares are higher about six percent. They still are

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<v Speaker 1>off their all time high, so there's still kind of

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<v Speaker 1>a lot to be worked through in that space to

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<v Speaker 1>do with the wider economic uncertainty, but shares are higher

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<v Speaker 1>on a kind of a glimmer of hope.

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<v Speaker 3>Okay, and Rank Group their shares plunging after a city

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<v Speaker 3>analysts change their recommendation to sell.

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<v Speaker 1>Indeed, this is the Germanistic tent company, so they make

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<v Speaker 1>kind of systems for vehicles and machinery. So a downgrade

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<v Speaker 1>from city they cut them from a neutral to a

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<v Speaker 1>cell and analysts are saying that shares are too expensive.

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<v Speaker 1>So Renk Group has kind of been caught up in

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<v Speaker 1>this wider defense rally that we've been seeing. And a

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<v Speaker 1>quote from it, unlessa I thought I should read it

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<v Speaker 1>out as a quite blunt it says, even pushing our

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<v Speaker 1>valuations to the upper end of what we feel is

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<v Speaker 1>a credible scenario, we believe Rank is overvalued and we're

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<v Speaker 1>downgrading to a cell.

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<v Speaker 3>So they set a new.

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<v Speaker 1>Price target of sixty four euros and shares are falling

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<v Speaker 1>as much as five percents morning closer to that price target.

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<v Speaker 1>They're around sixty eight euros now, and that follows an

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<v Speaker 1>almost three hundred percent year to date rally as of

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<v Speaker 1>yesterday's close, so they've really been rallying with defense and

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<v Speaker 1>now dropping on this downgrade from City.

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<v Speaker 2>the Blue Blomberg Business app. Mm hmm