Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Now, let's take a look at some stocks on the
Speaker 3: move today in Europe. I'm Rachel Evans with Stephen Carroll,
Speaker 3: and we're joined by Bloomberg's Breaking News at at Louise Moon.
Speaker 4: Louis, thank you for joining us.
Speaker 3: Let's start with Trainline, which is among a group of
Speaker 3: companies being investigated for so called drip pricing.
Speaker 4: Tell us more. Yeah, so the competition's watchdog.
Speaker 1: This morning's open investigation into train Line, and then also
Speaker 1: Virgin Atlantic and Red Driving School, which I recognize the
Speaker 1: name from seeing their cars driving around.
Speaker 4: As you say, that's over drip pricing.
Speaker 1: So essentially what that is is misleading upfront costs. So
Speaker 1: if you're going on to train Line and booking a train,
Speaker 1: the price you first see not being the overall total costs,
Speaker 1: so there's added extras that come later. So they're under investigation.
Speaker 1: If they're found to have broken the law, then customers
Speaker 1: could get compensation from train Line shares fell seventeen percent
Speaker 1: this morning, so the most in five years on the
Speaker 1: back of this. This kind of comes after So the CMA,
Speaker 1: the competition's watchdog, has been given more enforcement powers last
Speaker 1: year and they're on a bit of a push to
Speaker 1: clamp down on kind of misleading practices. So in June
Speaker 1: they ordered stub pub to pay out nearly one point
Speaker 1: five million pounds in refunds and penalties. Also quite timely
Speaker 1: given Burnham's Andy Burnham Prime Minister's pledge of kind of
Speaker 1: everyday fixes against the cost of living.
Speaker 4: So train Line says it's working.
Speaker 1: Constructively, constructively with the CMA and saying it's you know,
Speaker 1: committed to full compliance. For analysts is saying that this
Speaker 1: news is quite surprising. So the Office of for Rail
Speaker 1: and Road, so another body did a similar review in
Speaker 1: twenty twenty three and they read some changes with train Lines,
Speaker 1: so that's already happened. So ALYS is saying it is surprising.
Speaker 1: And as I say, shares fell seventeen percent.
Speaker 4: Yeah, it's a pretty sharp dropper for that company. Let's
Speaker 4: go to Smith and Nephew.
Speaker 1: Next share is filing after the medical device maker and
Speaker 1: it's it's CFO is resigning. Yes, he's been in the
Speaker 1: position for about two years and he's leaving at the
Speaker 1: end of the month. He's going to take up an
Speaker 1: external position unspecified in America. He had already relocated their
Speaker 1: last September. It's Smith and Nephew's biggest markets. In that sense,
Speaker 1: it made sense. But he's relocated there only take up
Speaker 1: an external position. So they've named an internal interim CFO
Speaker 1: for the moment. But shares dropping almost four percent at
Speaker 1: one point this morning, and Liss is saying that the
Speaker 1: outgoing CFO has been pretty instrumental and improving margins in
Speaker 1: the business. He's a good communicator, he's well regarded, so
Speaker 1: therefore his departure will raise questions about the company's financial outlook.
Speaker 1: They already cut recently cut their for year sales guidance,
Speaker 1: so Alice saying, you know, this is going to raise
Speaker 1: eyebrows among investors. It's another negative and there's uncertainty as
Speaker 1: to whether it can fully turn itself around with him,
Speaker 1: So it depends also on who his success is.
Speaker 3: And another high profile that they're watching this time at Strauman.
Speaker 3: Shares in the Swiss firm have been dropping with the departure.
Speaker 3: Is apparently well.
Speaker 1: Liked CEO Yes, shares down as much as nine percents
Speaker 1: of the most in a year this morning, so CEO
Speaker 1: that is changing from September. He's been in the role
Speaker 1: since twenty twenty, so quite a long stint. As you say,
Speaker 1: he was well liked, and Analyss is saying this was
Speaker 1: quite a surprise, and again in a similar fashion to
Speaker 1: Smith and Nephew were out a bit of uncertainty. They
Speaker 1: also had first half earnings this morning which were quite strong,
Speaker 1: but this news is really overshadowing things and causing those shares.
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