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 take a look at some of the stocks
Speaker 3: on the move today here in Europe. I'm Caroline Hepcat
Speaker 3: alongside Stephen Carroll, and we're joined by Bloomberg reporter Klai Malay.
Speaker 3: Good morning. So looking at European stocks, the biggest gaining
Speaker 3: sector is auto and car parts. That's partly being driven
Speaker 3: by Stilantis.
Speaker 4: Why yeah, absolutely so. Stillantis is up this morning quite
Speaker 4: a bit after saying that sells in the third quarter
Speaker 4: jumped to thirteen percent and that was driven primarily by
Speaker 4: a really good performance in North America. So that really
Speaker 4: signals a recovery in that market for Stilantis after what
Speaker 4: has been quite a tough year for the company. You know,
Speaker 4: it dealt with a lot of management changes over the
Speaker 4: last year or so, a lot of loss in market
Speaker 4: share across some of its key markets. But it seems
Speaker 4: that the strategy of kind of refocusing on the US
Speaker 4: is starting to bear fruit, perhaps so you know, just
Speaker 4: a couple of weeks ago, there were reports that Cilantis
Speaker 4: was planning to invest ten billion dollars in the US
Speaker 4: in an attempt to kind of refocus on the US,
Speaker 4: you know market that the previous management had abandoned a
Speaker 4: little bit. You know, the previously year had preferred to
Speaker 4: invest in Europe and move production to Mexico, and now
Speaker 4: there is a shift back towards towards North America and
Speaker 4: that is making investors quite happy so far.
Speaker 1: Okay, So that's Stilantis that we're starting with. Let's turn
Speaker 1: next to precious metals. We've been talking about the rally
Speaker 1: and gold prices for a while, those retreating now though,
Speaker 1: what are we seeing from Fresnillo.
Speaker 4: So yeah, Fresnolo, it's a gold and silver minor and
Speaker 4: it is down this morning after that pullback in gold
Speaker 4: and silver prices. This is a company that had benefited
Speaker 4: massively from that gold rally. The shares are up two
Speaker 4: hundred and eighty two percent year today, which is massive.
Speaker 4: So the companies in that kind of precious metals space
Speaker 4: had seen a lot of momentum as part of the
Speaker 4: circle debasement trade, where we saw a lot of investors
Speaker 4: flocking to bitcoin and gold because of that perceived safety
Speaker 4: over the dollar, So gold exceeded four thousand dollars an
Speaker 4: ounce for the first time on Wednesday this week. That
Speaker 4: was you primarily to concerns over the US economy the
Speaker 4: ongoing government shut down, of course, but over the last
Speaker 4: day or so, traders have been kind of reducing that
Speaker 4: exposure from these extended positions and locking in profits. So
Speaker 4: silver and gold fell again as a result, and that's
Speaker 4: now hurging Fresno shares a little bit as well as
Speaker 4: other companies within that mining sector because there's also been
Speaker 4: a pullback in copper prices, so that's also hurting glen
Speaker 4: Core and Androfagasta. This morning we've seen as well.
Speaker 3: Okay, so that on the mining sector. There does seem
Speaker 3: to be something of a recovery in the UK's jobs market,
Speaker 3: but Hayes has had a very torrid run and actually
Speaker 3: twenty twenty six might also be difficult.
Speaker 4: Yeah, absolutely, So there's a little bit. It's a bit
Speaker 4: of a mixed bag for Hayes essentially. So it rose
Speaker 4: this morning because the trading update was a little bit
Speaker 4: more reassuring than when then feared. The net fees that
Speaker 4: fell across both the permanent and the temporary hiring divisions,
Speaker 4: but they fell in line with what an analyst had expected,
Speaker 4: so that explains the ches being up, and this echoes
Speaker 4: kind of new data from the Recruitment and Employment Confederation
Speaker 4: that shows that the labor market in the UK, as
Speaker 4: you mentioned, is stabilizing a little bit. UK employers scaled
Speaker 4: back hiring in September, but they did it at the
Speaker 4: softest pace in a year, so this is an improvement
Speaker 4: but not really a full fledged rebound. Vacancies continued to
Speaker 4: fall last month that extended the current period of decline
Speaker 4: to almost two years, and the number of candidates looking
Speaker 4: for permanent work also rose very sharply again, so this
Speaker 4: is also reflected in the outlook from Hayes, mentioning that
Speaker 4: the tough market conditions would persist into next year, and
Speaker 4: of course we've got the budget in November there might
Speaker 4: lead to more tax rises and probably further pressure on
Speaker 4: those employees. So there's signs of things getting better, getting
Speaker 4: a little bit more stable, but the UK labor market
Speaker 4: is really far from being kind of the picture of
Speaker 4: health yet.
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