WEBVTT - Infineon Gains, EasyJet Rises, 3i Jumps

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

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

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

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<v Speaker 1>Well, let's take a look at the stocks on the

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<v Speaker 1>move in Europe. I'm Stephen Carroll and I'm joined by

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<v Speaker 1>Bloomberg's Chloe Mele Chloe. Let's start with Infinian riding the

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<v Speaker 1>tech wave along with several others this morning. Yeah.

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<v Speaker 3>Absolutely, Look, it looks like the AI trade is very

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<v Speaker 3>much back on. And so as you were saying, a

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<v Speaker 3>lot was hinging upon what Micron and also Welcome were

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<v Speaker 3>going to have to say in their results, and both

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<v Speaker 3>of those companies gave a very strong forecast. In Micron

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<v Speaker 3>in particular it was just way ahead of estimates, and

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<v Speaker 3>so for investors, that really confirms that this AI growth

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<v Speaker 3>runway it's still very very strong, and also reassured the

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<v Speaker 3>investors when it comes to, you know, those shortages that

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<v Speaker 3>we've been talking about in memory chips and so in

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<v Speaker 3>Europe we are seeing now all of those AI related

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<v Speaker 3>stocks as well in the green so Infinian being one

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<v Speaker 3>of them, but asml ASM, all of those chip makers,

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<v Speaker 3>chip making equipment manufacturers, very much riding that tech wave

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<v Speaker 3>and it comes as quite a relief for the sector,

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<v Speaker 3>given that the last few days have actually been quite

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<v Speaker 3>weak for that tech sector. It's quite a familiar a

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<v Speaker 3>story now where we get investors really excited about AI

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<v Speaker 3>and then one company will post something that indicates, you know,

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<v Speaker 3>maybe slightly slower growth or very high expenses, and investors

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<v Speaker 3>will start to get worried, and then we'll get another

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<v Speaker 3>set of blowout results from someone else and the confidence

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<v Speaker 3>kind of starts back up. And so it seems to

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<v Speaker 3>be happening yet again. But we are very much in

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<v Speaker 3>the green across that tech AI related sector this morning

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<v Speaker 3>in Europe.

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<v Speaker 1>Yeah, I mean, it's very much a buckle up for

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<v Speaker 1>the next stage of this. Yes, it seems to be

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<v Speaker 1>the sentiment on markets today. Let's turn next to EasyJet

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<v Speaker 1>shares rising on some questions about potential m and A.

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<v Speaker 3>Yeah, so easy to have rejected another offer from the

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<v Speaker 3>investment firm Castle lig and that is now the fourth

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<v Speaker 3>bid that it has rejected. But what's different now is

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<v Speaker 3>that it is potentially leaving the door open and showing

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<v Speaker 3>some willingness to engage a little bit more with Castle LIGs.

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<v Speaker 3>So it granted the company a bit more time and

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<v Speaker 3>also more access to limited commercial information to potentially improve

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<v Speaker 3>on that latest offer. So it is definitely a change

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<v Speaker 3>in tone from a few days ago when it seemed

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<v Speaker 3>very opposed to it. You know, it said that this

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<v Speaker 3>was a highly opportunistic offer, that it wanted to buy

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<v Speaker 3>Easy Get on the cheap. But now it's changing its

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<v Speaker 3>turn a little bit and we'll have to see how

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<v Speaker 3>this goes going forward. You know, the shares were up

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<v Speaker 3>this morning, rose about six percent at the open, but

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<v Speaker 3>we're still trading below the offer price. So now there's

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<v Speaker 3>a lot of questions there still need to be answered.

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<v Speaker 3>You know, we we'll see another London, London listed firm

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<v Speaker 3>going private. We we'll see more evidence of this kind

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<v Speaker 3>of consolidation MNA wave in the airline industry in those

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<v Speaker 3>kind of tough times for that sector with those higher

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<v Speaker 3>fuel costs. You know, there's a lot of those of

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<v Speaker 3>those questions that will arise as we wait for more

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<v Speaker 3>details on this potential potential Easy Get m and A.

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<v Speaker 1>Okay, so we'll keep an eye on that one too.

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<v Speaker 1>And some bargain basement shopping helping to lift three I group.

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<v Speaker 3>Yeah, three I being a private equity firm that has

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<v Speaker 3>a big stake in the discount retailer Action, and this

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<v Speaker 3>morning it said that things were going very well for Action,

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<v Speaker 3>So that really reassured investors after the latest earnings in

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<v Speaker 3>May from three I that led the shests of really

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<v Speaker 3>slump because they were essentially flagging the fact that Action

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<v Speaker 3>Celles were really struggling, and so at the time it

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<v Speaker 3>was really taken as proof that even those low cost

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<v Speaker 3>retailers were really struggling and suffering from that week consumer

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<v Speaker 3>spending off the back of the Iran war, and there

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<v Speaker 3>was particular weakness in France and in Germany and and list.

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<v Speaker 3>It said at the time the Action had a lot

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<v Speaker 3>to do to try and meet its guidance. But it

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<v Speaker 3>seems that it's managed to maybe get back on track.

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<v Speaker 3>But the picture overall in retail is looking quite mixed.

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<v Speaker 3>We also had H and M reporting and saying that

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<v Speaker 3>they were actually quite weak sales as well. But in

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<v Speaker 3>a couple of weeks we'll get the earning season started

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<v Speaker 3>back again and maybe the picture will get clearer across

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<v Speaker 3>all of that retail sector.

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