Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers report, your roundup of companies making moves
Speaker 2: in the stock market. Harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at thumb stocks on the mood
Speaker 3: today in Europe. I'm James Wulcock with Karen Hetcker and
Speaker 3: we are joined by Bloomberg reporter Clomelly Chloe.
Speaker 1: Has Evoke hit the jackpot today? It has.
Speaker 4: I knew that you would have a great fun So
Speaker 4: after quite a long time struggling, Evoke has.
Speaker 1: Finally agreed on a takeover.
Speaker 4: So it's agreed to be bought by Bali's Introlot, which
Speaker 4: is a joint venture that is majority owned by the
Speaker 4: US casino operator Bullies. And so this is a deal
Speaker 4: that values Evoke at two and forty three million pounds
Speaker 4: and it marks the end of a very long period
Speaker 4: of troubles for Evoke. So it has been dealing with
Speaker 4: a very heavy debt burden since the acquisition of the
Speaker 4: betting website William Hill, and as of April it's also
Speaker 4: now facing much higher gambling taxes in the UK. And
Speaker 4: so gambling was one of the big sectors that was
Speaker 4: targeted by Rachel Reeves in her budget in November, because
Speaker 4: it's a.
Speaker 1: Fairly easy target.
Speaker 4: You know, people do tend to agree that it can
Speaker 4: be a helpful industry and so could do with more taxes. Interestingly,
Speaker 4: Bingo has actually had taxes lowered because it's considered safer,
Speaker 4: just a little bit a little.
Speaker 1: Infout, little market.
Speaker 4: But of course forever that mentioned much higher costs, and
Speaker 4: so it had those taxes increasing in April, and then
Speaker 4: it would have had taxes increasing even further next April.
Speaker 4: And so it had said that it was closing a
Speaker 4: lot of betting shops across the UK because it was
Speaker 4: really struggling because of those tax hikes.
Speaker 1: So it has been looking to sell since.
Speaker 4: Late last year, and so now it's finally happened and
Speaker 4: we're seeing shares really sedge on the back of that.
Speaker 5: Yeah, it was really interesting. We spoke on Bloomberg Radio
Speaker 5: to Ripes and Reeves, the CEO of Bali's inch Loot,
Speaker 5: talking about this deal and actually his kind of high
Speaker 5: hopes for this, I mean the cost of this business
Speaker 5: and the valuation of the business that they bought much
Speaker 5: less than it was at only a year ago. He
Speaker 5: was also defending the whole kind of business structure around
Speaker 5: gambling and gaming that you know some in the UK
Speaker 5: government have been highly critical of, right, So that's one
Speaker 5: massive m and a deal that's very interesting ASML meanwhile
Speaker 5: interesting obviously given the air I say we're seeing globally.
Speaker 1: Yeah, absolutely.
Speaker 4: So we're seeing essentially a continuation today of the weakness
Speaker 4: that we had yesterday in all of this AI related stock.
Speaker 4: So what triggered that yesterday was of course the very
Speaker 4: disappointing outlook from Broadcom in the US, which led all
Speaker 4: of these chip makers, chip equipment manufacturers lower in Asia
Speaker 4: and in Europe and in the US.
Speaker 1: And then it's the same today.
Speaker 4: Really we've seen ASML, Infini and B Semiconductor, all of
Speaker 4: those names in the red. So we're seeing the enthusiasm
Speaker 4: around the AI trade waning a little bit, and it's
Speaker 4: really a global story. The cospians Korea, which is considered
Speaker 4: a really a bell weather for this AI story, fell
Speaker 4: about five percent. We're seeing futures on the NEST that
Speaker 4: one hundred dropping one percent, and so that indicates a
Speaker 4: third day of losses for that index, and so we're
Speaker 4: seeing investors really rotating out of those hardware stocks.
Speaker 1: Maybe more into software to an extent.
Speaker 4: The good news for Europe is that it's a region
Speaker 4: that is a lot less exposed to tech as a whole,
Speaker 4: but the few tech stocks that.
Speaker 1: It does have are struggling quite a bit on the
Speaker 1: back of that.
Speaker 3: So we've been talking about London Tech Week starting next
Speaker 3: week a lot. Today on the show Interesting, you picked
Speaker 3: out raspberry Pie, this big British success story in sort
Speaker 3: of computing. It's hitting all time high today.
Speaker 4: Why Yeah, great day for raspberry Pie and continuing on
Speaker 4: really a good trajectory of a really good year for
Speaker 4: that company. So it's a company that makes small, low
Speaker 4: cost computers and it's doing really really well. So I
Speaker 4: actually went on Redder because that's where a lot of
Speaker 4: tech enthusiasts are to just kind of see what they're
Speaker 4: saying about those computers.
Speaker 3: And ready, that's been your day to day.
Speaker 1: Yeah, that's what I've been doing this morning.
Speaker 4: So they're really rare about them and saying that you know,
Speaker 4: they're cheap, they're versatile. So this is a product that
Speaker 4: is seeing a lot of demand. And so Raspberry Pie
Speaker 4: said that Nix this year would be well ahead of expectations,
Speaker 4: and so shares rose very strongly and as you said, James,
Speaker 4: hitting an all time high. The one big challenge that
Speaker 4: the company is facing is a supply crunch for memory chips,
Speaker 4: which is obviously a big question mark for that whole sector,
Speaker 4: but it seems that raspberry Pie is actually navigating that
Speaker 4: quite well, with one analyst saying that the company was
Speaker 4: delivering a masterclass in navigating supply issues, so really doing
Speaker 4: very very well.
Speaker 1: Raspberry Pie.
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