WEBVTT - BBVA Rises, EssilorLuxottica Gains, Volvo Dips

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.680 --> 0:00:18.040
<v Speaker 3>Let's have a look at some stocks on the move

0:00:18.079 --> 0:00:20.760
<v Speaker 3>today here in Europe. I'm Caroline Hepga alongside Tom McKenzie,

0:00:20.760 --> 0:00:24.320
<v Speaker 3>and we're joined bout Bloomberg reporter Chloe Malay. Good morning, Chloe.

0:00:24.960 --> 0:00:28.120
<v Speaker 3>Let's look at shares that are not doing particularly well

0:00:28.120 --> 0:00:33.280
<v Speaker 3>across Europe. BBVA shares though an exception, Chairman Colins Torres's

0:00:33.400 --> 0:00:37.720
<v Speaker 3>announcement that he'll stay on despite the failed bid for

0:00:37.760 --> 0:00:38.559
<v Speaker 3>another bank.

0:00:38.680 --> 0:00:40.920
<v Speaker 1>Yeah, so investors are happy that he's staying on, but

0:00:40.960 --> 0:00:44.600
<v Speaker 1>also happy that that bid has failed. So the takeover

0:00:44.640 --> 0:00:48.760
<v Speaker 1>bid for Sabadel officially failed yet today it's marking the

0:00:48.800 --> 0:00:51.879
<v Speaker 1>end of asaga that dragged on for seventeen months. So

0:00:51.920 --> 0:00:54.800
<v Speaker 1>this is actually quite a big setback for Colors Torres.

0:00:54.840 --> 0:00:57.440
<v Speaker 1>He'd already tried and then failed to buy Sabadel in

0:00:57.440 --> 0:00:59.680
<v Speaker 1>twenty twenty. It seems that he kind of once again

0:00:59.680 --> 0:01:03.320
<v Speaker 1>missed calculated the attractiveness of the offer. But even though

0:01:03.320 --> 0:01:06.720
<v Speaker 1>this is actually a failure for Taurus BBVA, investors are

0:01:07.240 --> 0:01:09.679
<v Speaker 1>quite happy that the dil is not going ahead. Some

0:01:09.760 --> 0:01:12.280
<v Speaker 1>analysts said that this is actually quite the relief that

0:01:12.319 --> 0:01:15.120
<v Speaker 1>this removes this m and a uncertainty that was hanging

0:01:15.160 --> 0:01:17.679
<v Speaker 1>over both banks and it really allows them to move

0:01:17.720 --> 0:01:20.440
<v Speaker 1>on and focus on their standalone of prospects. And then

0:01:20.520 --> 0:01:23.240
<v Speaker 1>of course BBVA also announced a brand new buyback, so

0:01:23.240 --> 0:01:26.280
<v Speaker 1>there was certainly an additional boost, but BBVA is definitely

0:01:26.440 --> 0:01:29.080
<v Speaker 1>the standout whilst the rest of those European banks are

0:01:29.120 --> 0:01:31.000
<v Speaker 1>falling quite quite a lot. This morning.

0:01:32.200 --> 0:01:35.440
<v Speaker 4>On a very different sector, Eslo Lasotagas are the maker

0:01:35.920 --> 0:01:39.119
<v Speaker 4>of eyewear, really benefiting from its partnership with.

0:01:39.120 --> 0:01:41.520
<v Speaker 1>Meta, Yeah, very much, so the shares reached an all

0:01:41.560 --> 0:01:44.840
<v Speaker 1>time high this morning. It reported really strong sales in

0:01:44.880 --> 0:01:47.040
<v Speaker 1>the third quarter and that is, as you said, thanks

0:01:47.080 --> 0:01:50.120
<v Speaker 1>to really strong demand for AI glasses, so the smart

0:01:50.160 --> 0:01:52.720
<v Speaker 1>glasses that it makes in partnership with Meta, so it

0:01:52.800 --> 0:01:57.520
<v Speaker 1>essentially allows users to view messages and photos and also

0:01:57.800 --> 0:02:01.800
<v Speaker 1>directions through the lens of their glasses. So the expectations

0:02:01.920 --> 0:02:04.880
<v Speaker 1>around this partnerships are really really high though, so Eslo

0:02:04.920 --> 0:02:08.360
<v Speaker 1>will have to continue to deliver. To put some numbers

0:02:08.400 --> 0:02:12.040
<v Speaker 1>on it, the collaboration generated about three hundred and sixty

0:02:12.040 --> 0:02:15.240
<v Speaker 1>five million euros in revenue in twenty twenty four. That

0:02:15.240 --> 0:02:17.920
<v Speaker 1>could reach eight hundred this year, and then we could

0:02:18.160 --> 0:02:21.000
<v Speaker 1>reach six billion by twenty thirty. So those are quite

0:02:21.200 --> 0:02:25.160
<v Speaker 1>optimistic projections and that will that will force look eslor

0:02:25.200 --> 0:02:28.080
<v Speaker 1>to kind of deliver on that. I personally don't know

0:02:28.120 --> 0:02:30.400
<v Speaker 1>anyone yet who has bought any AI glasses, but it

0:02:30.480 --> 0:02:33.040
<v Speaker 1>might be the next big thing, so let's watch.

0:02:32.919 --> 0:02:35.040
<v Speaker 3>Out for them. You've read my mind. I was going

0:02:35.120 --> 0:02:38.679
<v Speaker 3>to say to our man all Things Tech, Tom McKenzie,

0:02:38.680 --> 0:02:42.040
<v Speaker 3>have you tried the specs out of your mates by.

0:02:41.720 --> 0:02:44.000
<v Speaker 4>I've tried them out. They're getting much much better, are they?

0:02:44.560 --> 0:02:45.919
<v Speaker 4>There is a question, I mean, did you see a

0:02:46.000 --> 0:02:49.760
<v Speaker 4>light go on when they're recording you? I really, because

0:02:49.760 --> 0:02:54.239
<v Speaker 4>obviously there's a the rest that there are risks and

0:02:54.240 --> 0:02:56.560
<v Speaker 4>there's a there's a privacy question here, but they do

0:02:56.600 --> 0:02:58.840
<v Speaker 4>have a like so you know you can tell when

0:02:58.880 --> 0:03:01.119
<v Speaker 4>they're recording you. But now, yeah, usually have that augmented

0:03:01.160 --> 0:03:03.639
<v Speaker 4>reality plugged in in some some AI functions as well.

0:03:03.639 --> 0:03:06.600
<v Speaker 4>But it's obviously proving. It's obviously working for sorting and

0:03:07.040 --> 0:03:10.040
<v Speaker 4>as Coloe's mentioned, Meta has a not insignificant stake in

0:03:10.040 --> 0:03:10.440
<v Speaker 4>that company.

0:03:10.600 --> 0:03:12.919
<v Speaker 3>Yeah, absolutely, let's see whether it actually hits the kind

0:03:12.919 --> 0:03:17.240
<v Speaker 3>of mainstream market that's the anticipation. Anyway, very briefly, Swedish

0:03:17.280 --> 0:03:18.120
<v Speaker 3>Auta make Evolvo.

0:03:18.480 --> 0:03:20.480
<v Speaker 1>Yeah, so it said today that it expects to slow

0:03:20.520 --> 0:03:23.360
<v Speaker 1>down in the North American truck market to continue into

0:03:23.400 --> 0:03:26.920
<v Speaker 1>next year because of continued tariff uncertainty. So it's bracing

0:03:27.000 --> 0:03:29.720
<v Speaker 1>for the twenty five percent tariffs that we will see

0:03:29.760 --> 0:03:32.760
<v Speaker 1>on trucks that will take effect on November the first,

0:03:32.800 --> 0:03:35.040
<v Speaker 1>in just a couple of weeks, and Volvo is quite

0:03:35.040 --> 0:03:37.440
<v Speaker 1>exposed to that because it builds quite a lot of

0:03:37.440 --> 0:03:39.920
<v Speaker 1>these trucks in Canada and Mexico, so will be affected

0:03:39.920 --> 0:03:42.800
<v Speaker 1>by those tariffs. There's definitely a sector wide story. We

0:03:42.840 --> 0:03:46.160
<v Speaker 1>Als already heard Michelin earlier this week cut its guidance

0:03:46.160 --> 0:03:48.800
<v Speaker 1>because of that weakness in that North American truck market.

0:03:50.160 --> 0:03:54.160
<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

0:03:54.240 --> 0:03:56.840
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:56.920 --> 0:03:59.920
<v Speaker 2>making news on Wall Street and for the latest market

0:04:00.080 --> 0:04:04.480
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:04.600 --> 0:04:08.080
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto. With

0:04:08.160 --> 0:04:09.640
<v Speaker 2>the Bloomberg Business app