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: Let's take a look at some of the stocks on
Speaker 3: the move today in Europe. I'm Tiama Adabai with Caroline Habka,
Speaker 3: and we're joined by Bloomberg's Breaking News editor Louise Moon.
Speaker 3: Analysts are fueling moves in airline stocks this morning, taus,
Speaker 3: Why Louise.
Speaker 1: Yes, indeed. So there's been note from Morgan Stanley on
Speaker 1: airline stocks, which is, as you say, impacting stock movements
Speaker 1: this morning. So the main thing, the crucial thing is
Speaker 1: it's saying complacency after sharp earnings cuts is offering opportunities
Speaker 1: in the market. So it's downgraded Lufthansa and luft Hander's
Speaker 1: stock is kind of tracking that falling this morning. Upgraded
Speaker 1: air France, but its top pick is IAG, obviously the
Speaker 1: owner of British Airways, so they're saying that things like
Speaker 1: cost display and strong free cash flow sholder returns are
Speaker 1: all reasons for IAG to be a top pick, and
Speaker 1: this kind of echoes what unless have been saying. Anyway, saying,
Speaker 1: so the kind of wider consensus is that IG's given
Speaker 1: everything that's going on the Middle East, rising fuel costs
Speaker 1: and everything that's come out of that conflict, the IEG
Speaker 1: has been it is being seen as being in a
Speaker 1: relatively strong position. They've got higher profitability and balance sheet
Speaker 1: better positioned essentially to withstand all of these headwinds. So
Speaker 1: if you look at the analyst ratings for IG, they've
Speaker 1: got twenty seven buys, zero holds and just two cells
Speaker 1: and their shares are higher, so also moving in line
Speaker 1: with the others. On the back of that. Morgan Stanley note,
Speaker 1: so one of the top prizes morning on the Foots
Speaker 1: one hundred. So an interesting note there for Morgan Stanley
Speaker 1: having quite impact on airline stocks today.
Speaker 2: Okay interesting.
Speaker 3: Meanwhile, Kingfisher, the DIY retailer seems to be reassuring investors.
Speaker 1: Have they done that? Yes, So, shares up as much
Speaker 1: as eight point three percent this morning, the top prizer
Speaker 1: on the foot Sea hundred here in London, that's and
Speaker 1: they briefly hit two month high within that, as you say,
Speaker 1: reassuring update. They had their first quarter sales. Now interestingly,
Speaker 1: sales actually fell and they blame a later spring coming
Speaker 1: and which resulted in a in a weaker football essentially,
Speaker 1: But the commentary is quite reassuring, is what Alice is saying.
Speaker 1: So they're saying that they're resilient in the face of
Speaker 1: kind of wider headwinds and they're on track to meet
Speaker 1: their full year guidance, so holding up against a whole
Speaker 1: host of challenges that we're seeing across the retail sector.
Speaker 1: So you've got a weaker consumer, higher costs later spring,
Speaker 1: as Kingfisher noted themselves, But Alice is saying that, yeah,
Speaker 1: holding up reassuring after recent pressure on the stock screw
Speaker 1: Fix one of their brands in particular performing very well,
Speaker 1: so shares really rising this morning.
Speaker 3: Okay, so perhaps a resurgence coming for Kingfisher. But finally, Louis,
Speaker 3: everyone's talking about Ferrari this morning. It seems like the
Speaker 3: business wants to go green, but it's stock price seems
Speaker 3: to be going into the red.
Speaker 2: It's going on there.
Speaker 1: Yeah, So they've unveiled their first fully electric car. This
Speaker 1: is the kind of the final step. They had a
Speaker 1: three part reveal and Saunday evening presentation revealing the full
Speaker 1: extent of it. So it's a five seater it costs
Speaker 1: five hundred and fifty thousand euros. It's being seen as
Speaker 1: a big test for Ferrari. It's a breakaway from their heritage.
Speaker 1: You know, there's questions over how much demand they'll be,
Speaker 1: the challenges of extending into battery when they're very much
Speaker 1: used to combustion engines, So it's a tough challenge for them.
Speaker 1: And it's a tough market. You've seen you know, rivals
Speaker 1: like Lamborghini and port they've slowed their electrification plans citing
Speaker 1: a lack of buying interest. So it's a tough market
Speaker 1: to go into. And shares falling very heavily this morning,
Speaker 1: so they fell over eight percent. Reviews essentially for this
Speaker 1: are disappointing and saying they don't like the design, it's
Speaker 1: too close to Tesla, and one saying, which I thought
Speaker 1: is quite good quote, we are lost in translation with
Speaker 1: Ferrari's new strategy. So a lot of questions over what's
Speaker 1: going on, how how you know how successful this will
Speaker 1: and so far the reception is not good.
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