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Speaker 2: Stock Movers Report, your roundup of companies making moves in
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Speaker 1: Well, let's take a look at the stocks on the
Speaker 1: move in Europe. I'm Stephen Carroll and I'm joined by
Speaker 1: Bloomberg's Chloe Mele Chloe. Let's start with Infinian riding the
Speaker 1: tech wave along with several others this morning. Yeah.
Speaker 3: Absolutely, Look, it looks like the AI trade is very
Speaker 3: much back on. And so as you were saying, a
Speaker 3: lot was hinging upon what Micron and also Welcome were
Speaker 3: going to have to say in their results, and both
Speaker 3: of those companies gave a very strong forecast. In Micron
Speaker 3: in particular it was just way ahead of estimates, and
Speaker 3: so for investors, that really confirms that this AI growth
Speaker 3: runway it's still very very strong, and also reassured the
Speaker 3: investors when it comes to, you know, those shortages that
Speaker 3: we've been talking about in memory chips and so in
Speaker 3: Europe we are seeing now all of those AI related
Speaker 3: stocks as well in the green so Infinian being one
Speaker 3: of them, but asml ASM, all of those chip makers,
Speaker 3: chip making equipment manufacturers, very much riding that tech wave
Speaker 3: and it comes as quite a relief for the sector,
Speaker 3: given that the last few days have actually been quite
Speaker 3: weak for that tech sector. It's quite a familiar a
Speaker 3: story now where we get investors really excited about AI
Speaker 3: and then one company will post something that indicates, you know,
Speaker 3: maybe slightly slower growth or very high expenses, and investors
Speaker 3: will start to get worried, and then we'll get another
Speaker 3: set of blowout results from someone else and the confidence
Speaker 3: kind of starts back up. And so it seems to
Speaker 3: be happening yet again. But we are very much in
Speaker 3: the green across that tech AI related sector this morning
Speaker 3: in Europe.
Speaker 1: Yeah, I mean, it's very much a buckle up for
Speaker 1: the next stage of this. Yes, it seems to be
Speaker 1: the sentiment on markets today. Let's turn next to EasyJet
Speaker 1: shares rising on some questions about potential m and A.
Speaker 3: Yeah, so easy to have rejected another offer from the
Speaker 3: investment firm Castle lig and that is now the fourth
Speaker 3: bid that it has rejected. But what's different now is
Speaker 3: that it is potentially leaving the door open and showing
Speaker 3: some willingness to engage a little bit more with Castle LIGs.
Speaker 3: So it granted the company a bit more time and
Speaker 3: also more access to limited commercial information to potentially improve
Speaker 3: on that latest offer. So it is definitely a change
Speaker 3: in tone from a few days ago when it seemed
Speaker 3: very opposed to it. You know, it said that this
Speaker 3: was a highly opportunistic offer, that it wanted to buy
Speaker 3: Easy Get on the cheap. But now it's changing its
Speaker 3: turn a little bit and we'll have to see how
Speaker 3: this goes going forward. You know, the shares were up
Speaker 3: this morning, rose about six percent at the open, but
Speaker 3: we're still trading below the offer price. So now there's
Speaker 3: a lot of questions there still need to be answered.
Speaker 3: You know, we we'll see another London, London listed firm
Speaker 3: going private. We we'll see more evidence of this kind
Speaker 3: of consolidation MNA wave in the airline industry in those
Speaker 3: kind of tough times for that sector with those higher
Speaker 3: fuel costs. You know, there's a lot of those of
Speaker 3: those questions that will arise as we wait for more
Speaker 3: details on this potential potential Easy Get m and A.
Speaker 1: Okay, so we'll keep an eye on that one too.
Speaker 1: And some bargain basement shopping helping to lift three I group.
Speaker 3: Yeah, three I being a private equity firm that has
Speaker 3: a big stake in the discount retailer Action, and this
Speaker 3: morning it said that things were going very well for Action,
Speaker 3: So that really reassured investors after the latest earnings in
Speaker 3: May from three I that led the shests of really
Speaker 3: slump because they were essentially flagging the fact that Action
Speaker 3: Celles were really struggling, and so at the time it
Speaker 3: was really taken as proof that even those low cost
Speaker 3: retailers were really struggling and suffering from that week consumer
Speaker 3: spending off the back of the Iran war, and there
Speaker 3: was particular weakness in France and in Germany and and list.
Speaker 3: It said at the time the Action had a lot
Speaker 3: to do to try and meet its guidance. But it
Speaker 3: seems that it's managed to maybe get back on track.
Speaker 3: But the picture overall in retail is looking quite mixed.
Speaker 3: We also had H and M reporting and saying that
Speaker 3: they were actually quite weak sales as well. But in
Speaker 3: a couple of weeks we'll get the earning season started
Speaker 3: back again and maybe the picture will get clearer across
Speaker 3: all of that retail sector.
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