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: Now, let's look at some of the stocks on the
Speaker 3: move today here in Europe. I'm Caroline Hedget and I'm
Speaker 3: joined Bublinberg reported claim Malay, good morning, Clok. Let's think
Speaker 3: of individual shares and particularly reach more the luxury group
Speaker 3: their sales and a big bounce for their stock price.
Speaker 1: Yeah, absolutely so, sales be estimates across all divisions for Richmond.
Speaker 1: That was thanks to really strong demand in the US
Speaker 1: and China in particular, So that echoes what we heard
Speaker 1: from Barbury just yesterday, and then some of the other
Speaker 1: luxury names as well throughout their earning season have mentioned
Speaker 1: this rebound in the Chinese market. So this confirms the
Speaker 1: narrative that has been building of recovery underway in the
Speaker 1: luxury sector, and Richmond seems to be a particularly strong
Speaker 1: name within that industry. So a lot of that has
Speaker 1: with its jewelry segment, which includes a Cartier and Van
Speaker 1: Cleef and that is doing particularly well. Jefferies, analyst said
Speaker 1: that this kind of certifices Richmore as the fastest growing
Speaker 1: in luxury. Another positive thing for that company is also
Speaker 1: that there is progress on a teriff deal between the
Speaker 1: US and Switzerland. So the chairman of Britishmore said this
Speaker 1: morning that a deal should happen in the next few days,
Speaker 1: and so that will provide that additional boost for that company.
Speaker 1: The shares in Nishmore had already held up pretty well
Speaker 1: regardless of that thirty nine percent rate that was mentioned
Speaker 1: back in August, so who knows really how far they
Speaker 1: could go if that challenge is removed as well.
Speaker 3: Okay, very interesting on Rischmaar, the high end luxury group
Speaker 3: and how well it's doing. Semen's Energy now, which has
Speaker 3: raised its outlook due to strong demand for gas turbines
Speaker 3: but also data center equipment.
Speaker 1: Yes, the Semen's Energy is a really big beneficiary of
Speaker 1: this artificial intelligence data center a buildout, so it provides
Speaker 1: some of the equipment for that. So that includes are
Speaker 1: transformers and circuit breakers that are used in data centers,
Speaker 1: and then on the gas turbine side of things, it's
Speaker 1: also really benefiting from this rise in global energy demand
Speaker 1: and that has boosted that demand for those guess turbines
Speaker 1: Seamen's Energy also said that the restructuring at the wind
Speaker 1: turbine unit was progressing quite well. So it's still unprofitable,
Speaker 1: but it expects now their division to potentially break even
Speaker 1: in twenty twenty six. The challenges there include some of
Speaker 1: the costs are associated with the ramp up in offshore wind,
Speaker 1: low margin contracts in the onshore wind market, and then
Speaker 1: US Tariff's also weighing there. So that is a little
Speaker 1: bit of a weaker division, but seems to be on
Speaker 1: the way on the way to recovery. And all of
Speaker 1: that means that it has been able to high quite
Speaker 1: substantially this medium term outlook and that has really boosted
Speaker 1: the shares this morning. It seems that all of this
Speaker 1: air optimism, this stronger energy demand is really is really
Speaker 1: creating the momentum for Semen's Energy.
Speaker 3: Hmm okay. In terms of Lloyd's Banking group that also
Speaker 3: seems to be having a difficult moment today on the market.
Speaker 3: Is that anything to do with the UK budget.
Speaker 1: Yes, it does so. We had seen we have seen
Speaker 1: this morning a little bit of a sell off across
Speaker 1: those UK banks, across those UK stocks in general, but
Speaker 1: UK banks in particular, and Lloyd's was one of them
Speaker 1: and one of the worst affected. So a lot of
Speaker 1: that has to do with with that possible well that
Speaker 1: you've done from Rachel Reeves on the budget measures and
Speaker 1: had those dropped plans to raise income texts, which that
Speaker 1: prompted quite a sharp sell off in guilds and then
Speaker 1: that weakness in those UK banks.
Speaker 2: So she made that.
Speaker 1: Decision because of because of potentially some internal pressure within
Speaker 1: the party. So officials had worn that breaking Labour's election
Speaker 1: promise of not raising income text could prompt those leadership challenges,
Speaker 1: and we heard earlier this week about those potential leadership
Speaker 1: threads faced by kir Starmer, so that be part of
Speaker 1: the reason why she decided not to go ahead with it.
Speaker 1: But now some investors are concerned about how she is
Speaker 1: going to make up with that revenue shortfall. This obviously
Speaker 1: also comes just a couple of weeks before the budget
Speaker 1: is actually announced, so that creates quite a lot of uncertainty,
Speaker 1: and we saw that reflected in some weakness for those
Speaker 1: UK banks, and particularly Lloyd's given how domestically exposed it is.
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