WEBVTT - WPP Rockets, Rheinmetall Slumps, Medicover Rises  

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

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

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

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<v Speaker 3>Let's take a look at some stocks on the move

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<v Speaker 3>today in Europe. Hunding School Clock with Steve and Carroll,

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<v Speaker 3>and we're joined by Bloomberg Breaking News edit at Louise Moon. Louise,

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<v Speaker 3>I had to do a double take when I looked

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<v Speaker 3>at the terminal for WVP this morning. It's up twenty

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<v Speaker 3>three percent now, but at one point was high as

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<v Speaker 3>thirty percentage points.

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<v Speaker 4>What is driving that?

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<v Speaker 1>Yeah, I mean, and then it's the most on records

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<v Speaker 1>shares swing. It's absolutely surging this morning. What it is

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<v Speaker 1>is that it looks as though things are starting to improve,

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<v Speaker 1>and that is what's really driving that share movement this morning.

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<v Speaker 1>So the turnaround seeming like it's starting to pay off.

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<v Speaker 1>It's had years worth of client and revenue losses. This

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<v Speaker 1>is all on the back of AI competition as well

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<v Speaker 1>as you know wider macro uncertainty impacting clients spending as well.

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<v Speaker 3>Well.

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<v Speaker 1>So it's been seeing across the ad industry. So WP

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<v Speaker 1>had their second quarter results this morning operating profit that

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<v Speaker 1>that key metric. It fell, but it fell less than expected,

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<v Speaker 1>and WPP also reiterated guidance for the full year. They

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<v Speaker 1>had spoken in February about doing a portfolio review and

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<v Speaker 1>then they said this morning they expect to gain over

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<v Speaker 1>two hundred million pounds from selling some non core assets.

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<v Speaker 1>One of those could be It's got a forty percent

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<v Speaker 1>stake in Kantar, the market researcher, so one of those

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<v Speaker 1>sales could be of that stake. So essentially a lot

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<v Speaker 1>of positive news showing that the efforts under Cindy Rose,

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<v Speaker 1>the CEO who joined last September, she's been cunning a

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<v Speaker 1>lot of costs, restructuring the business into four units. Those

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<v Speaker 1>are her particular measures that she's been doing, showing that

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<v Speaker 1>that is starting to improve a momentum and making progress.

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<v Speaker 4>Luise to Germany next, where one of the star performers

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<v Speaker 4>of the market there over the past couple of years,

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<v Speaker 4>Ryan Mattal, had earning XECT this morning as well. Shares

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<v Speaker 4>those slightly lower, Yeah, kind of fluctuating.

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<v Speaker 1>They had initially gained about three percent, but now lower,

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<v Speaker 1>as you say, they cut their sales forecast for the year.

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<v Speaker 1>Now this is all related to a canceled German naval

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<v Speaker 1>contract which came in June. This happened in June and

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<v Speaker 1>that was worth about ten billion euros. So the German

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<v Speaker 1>government essentially decided to buy them from TKMS, another company,

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<v Speaker 1>Ry Mattel saying today that that was canceled. They say

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<v Speaker 1>it was canceled because the German government were worried about

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<v Speaker 1>delays and cost over runs as well as some other issues.

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<v Speaker 1>So they've cut their sales forecast on the back of that,

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<v Speaker 1>and they're now trying to find more contracts for their

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<v Speaker 1>naval units.

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<v Speaker 4>So some negative news, but a list is saying.

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<v Speaker 1>That the likelihood of future disappointments are now much lower

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<v Speaker 1>now that this has happened, and that sales forecast has

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<v Speaker 1>been cut as a result, and they're saying that the

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<v Speaker 1>full year consensus numbers are now in better shape given

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<v Speaker 1>this news. So shares kind of fluctuating on the back

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<v Speaker 1>of that.

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<v Speaker 4>And finally you're thinking about the sweet healthcare company Medicore.

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<v Speaker 1>Why, Yeah, so a really interesting deal KKR, the private

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<v Speaker 1>city giant that it's buying medi coover's Indian hospital operations.

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<v Speaker 4>That's a value of about one point two billion euros.

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<v Speaker 1>So quite a big deal there that's expected to close

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<v Speaker 1>in the fourth quarter. For KKR, it's expanding its healthcare investments,

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<v Speaker 1>particularly in India, but for medicover obviously for US looking

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<v Speaker 1>at their stock kind of the most important bit. They're

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<v Speaker 1>going to get cash proceeds of about seven hundred and

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<v Speaker 1>forty million euros and that's essentially going to help them

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<v Speaker 1>accelerate their push across Europe, so particularly into Poland, Germany, Romania.

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<v Speaker 4>It says that it's going to put them in a

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<v Speaker 4>stronger financial position.

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<v Speaker 1>So shares up about nine ten percent in Stockholm this morning,

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<v Speaker 1>which is almost pairing all their losses so far this year.

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<v Speaker 4>So a big deal for them and going to help

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<v Speaker 4>them with their exposure.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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