Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers podcast, 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. Had some stocks on the midday
Speaker 3: and Europe imecas all up with Karen Hepger and we
Speaker 3: enjoyed as ever by Bloomberg's breaking news edit, said Louise Moon.
Speaker 3: So let's start with Eden. Read Louise. The payments firms
Speaker 3: in the green this morning, up by double digits. What's
Speaker 3: going on?
Speaker 1: Yes, so shares up by eighteen percent. So if you
Speaker 1: look at kind of back on their a graph of
Speaker 1: their share price absolutely shot up this morning to levels
Speaker 1: last scene in late last year, late twenty twenty five.
Speaker 1: This is after they've been approached by BC Partners about
Speaker 1: a potential takeover. So this was confirmed this morning, confirming
Speaker 1: local media reporting in France that had said that they've
Speaker 1: been approached by the takeover and also that BC Funds
Speaker 1: had approached four other funds to create consortium to take
Speaker 1: over Eden Red. So that's kind of all the detail
Speaker 1: we have at the moment. There's no certainty about offer
Speaker 1: that will be made, but on the back of that
Speaker 1: limited News shares rose eighteen percent, and we'll be keeping
Speaker 1: an eye to see if any deal is well, an
Speaker 1: offer is made and any deal comes to fruition with that, okay,
Speaker 1: So that on Eden read I. Meanwhile, every little is
Speaker 1: not really helping the UK's largest supermarket chain, that's Tesco,
Speaker 1: it is not. They had their first quarter results this
Speaker 1: morning and essentially it was a combination of two very
Speaker 1: British things. Wet weather and a bit of pessimism didn't
Speaker 1: really help Tesco's taking a bit of a toll. So
Speaker 1: like flight sales missed estimates. They rose, they did rise,
Speaker 1: they rose one point eight percent, but it was expected
Speaker 1: to rise two point seven percent, So missing those estimates.
Speaker 1: Shares down. As you say, they're down almost four percent
Speaker 1: at one point this morning. So as I say, they're
Speaker 1: citing two main things, so one less consumer confidence essentially
Speaker 1: obviously the Iram war hitting a host of costs, costs rising,
Speaker 1: purse strings being tightened. And then on the other side,
Speaker 1: it was quite a tough comparison to results last year.
Speaker 1: Last year was very hot weather, this year less so
Speaker 1: in that period. So last year's hot weather fuel sales
Speaker 1: of items like barbecues, drinks, those kind of things. So
Speaker 1: it was a tough comparison because of the weather, and
Speaker 1: also there's a factor that last year was also even
Speaker 1: better because there was a cyber attack at MNS which
Speaker 1: essentially drove shoppers to Tesco. So a tough comparison and
Speaker 1: weaker consumer sentiment has to be said. It's not all bad.
Speaker 1: Tesco is still, as you said, the UK's largest supermarket
Speaker 1: by a long way. It's also been ramping up sales
Speaker 1: of its premium range that performed really well and it
Speaker 1: kept its outlook steady, so analyst is saying they're not
Speaker 1: too concerned. The online performance is still strong and actually
Speaker 1: this fallen share by this morning could be treated as
Speaker 1: a bit of a buying opportunity.
Speaker 3: And finally, German chemicals company Evo nick now they've set
Speaker 3: off a market reaction.
Speaker 1: They have they are for not very happy reason. Potentially
Speaker 1: they're shareding more jobs and they're exploring options for one
Speaker 1: of their units, so they're polyester business, so this is
Speaker 1: and that's obviously to raise cash. So it's another three thousand,
Speaker 1: two hundred jobs, mostly in Germany, it's home country, and
Speaker 1: that takes their total job cuts to about six thousand,
Speaker 1: which is about fifth of its workforce. They're saying that
Speaker 1: competition internationally is very fierce, increasingly fierce, particularly from Asia.
Speaker 1: They also cited unpredictable politics globally, persistently weak economic growth,
Speaker 1: and it's an ongoing story. They've been on a cost
Speaker 1: cutting drive for about two years and it's happening across
Speaker 1: the whole chemicals industry. So shares fell as much as
Speaker 1: about three percent.
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