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 stocks on the move
Speaker 3: today in Europe. Hunding School Clock with Steve and Carroll,
Speaker 3: and we're joined by Bloomberg Breaking News edit at Louise Moon. Louise,
Speaker 3: I had to do a double take when I looked
Speaker 3: at the terminal for WVP this morning. It's up twenty
Speaker 3: three percent now, but at one point was high as
Speaker 3: thirty percentage points.
Speaker 4: What is driving that?
Speaker 1: Yeah, I mean, and then it's the most on records
Speaker 1: shares swing. It's absolutely surging this morning. What it is
Speaker 1: is that it looks as though things are starting to improve,
Speaker 1: and that is what's really driving that share movement this morning.
Speaker 1: So the turnaround seeming like it's starting to pay off.
Speaker 1: It's had years worth of client and revenue losses. This
Speaker 1: is all on the back of AI competition as well
Speaker 1: as you know wider macro uncertainty impacting clients spending as well.
Speaker 3: Well.
Speaker 1: So it's been seeing across the ad industry. So WP
Speaker 1: had their second quarter results this morning operating profit that
Speaker 1: that key metric. It fell, but it fell less than expected,
Speaker 1: and WPP also reiterated guidance for the full year. They
Speaker 1: had spoken in February about doing a portfolio review and
Speaker 1: then they said this morning they expect to gain over
Speaker 1: two hundred million pounds from selling some non core assets.
Speaker 1: One of those could be It's got a forty percent
Speaker 1: stake in Kantar, the market researcher, so one of those
Speaker 1: sales could be of that stake. So essentially a lot
Speaker 1: of positive news showing that the efforts under Cindy Rose,
Speaker 1: the CEO who joined last September, she's been cunning a
Speaker 1: lot of costs, restructuring the business into four units. Those
Speaker 1: are her particular measures that she's been doing, showing that
Speaker 1: that is starting to improve a momentum and making progress.
Speaker 4: Luise to Germany next, where one of the star performers
Speaker 4: of the market there over the past couple of years,
Speaker 4: Ryan Mattal, had earning XECT this morning as well. Shares
Speaker 4: those slightly lower, Yeah, kind of fluctuating.
Speaker 1: They had initially gained about three percent, but now lower,
Speaker 1: as you say, they cut their sales forecast for the year.
Speaker 1: Now this is all related to a canceled German naval
Speaker 1: contract which came in June. This happened in June and
Speaker 1: that was worth about ten billion euros. So the German
Speaker 1: government essentially decided to buy them from TKMS, another company,
Speaker 1: Ry Mattel saying today that that was canceled. They say
Speaker 1: it was canceled because the German government were worried about
Speaker 1: delays and cost over runs as well as some other issues.
Speaker 1: So they've cut their sales forecast on the back of that,
Speaker 1: and they're now trying to find more contracts for their
Speaker 1: naval units.
Speaker 4: So some negative news, but a list is saying.
Speaker 1: That the likelihood of future disappointments are now much lower
Speaker 1: now that this has happened, and that sales forecast has
Speaker 1: been cut as a result, and they're saying that the
Speaker 1: full year consensus numbers are now in better shape given
Speaker 1: this news. So shares kind of fluctuating on the back
Speaker 1: of that.
Speaker 4: And finally you're thinking about the sweet healthcare company Medicore.
Speaker 1: Why, Yeah, so a really interesting deal KKR, the private
Speaker 1: city giant that it's buying medi coover's Indian hospital operations.
Speaker 4: That's a value of about one point two billion euros.
Speaker 1: So quite a big deal there that's expected to close
Speaker 1: in the fourth quarter. For KKR, it's expanding its healthcare investments,
Speaker 1: particularly in India, but for medicover obviously for US looking
Speaker 1: at their stock kind of the most important bit. They're
Speaker 1: going to get cash proceeds of about seven hundred and
Speaker 1: forty million euros and that's essentially going to help them
Speaker 1: accelerate their push across Europe, so particularly into Poland, Germany, Romania.
Speaker 4: It says that it's going to put them in a
Speaker 4: stronger financial position.
Speaker 1: So shares up about nine ten percent in Stockholm this morning,
Speaker 1: which is almost pairing all their losses so far this year.
Speaker 4: So a big deal for them and going to help
Speaker 4: them with their exposure.
Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with
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