WEBVTT - Zalando Plunges, Pandora Rises, Wise Climbs 

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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. I'm James Wilcock with Caroline Hepka. We're

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<v Speaker 3>joined by Bloomberg reporter Claim Chloe. Let's start with Orlando.

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<v Speaker 3>Let's see quite the drop this morning. What is prompting

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<v Speaker 3>that move?

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<v Speaker 1>Yeah, well, it's all about Germany's financial regulator opening an

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<v Speaker 1>investigation into Entry Zeland into the twenty twenty five financial report.

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<v Speaker 1>And so the robe is around suspected violations of accounting

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<v Speaker 1>rules that are related to the acquisition of About You,

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<v Speaker 1>which is Xander's rival online retailer that I had bought

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<v Speaker 1>for one point three billion dollars recently. And so the

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<v Speaker 1>regulator is essentially saying that there was information connected with

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<v Speaker 1>the acquisition of about that may have been incorrectly omitted

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<v Speaker 1>from the notes to the financial statements. And so obviously

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<v Speaker 1>that's the kind of thing that really worries investors, and

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<v Speaker 1>we've seen shares really plunging, as you say, really taking

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<v Speaker 1>that drop this morning. Solander's defended itself, saying that this

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<v Speaker 1>was a purely formal and materially insignificant aspect of the

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<v Speaker 1>notes to the financial statements and said that there's all

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<v Speaker 1>the relevant information related to that deal, so you know,

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<v Speaker 1>the companies involved, the transaction, trust structure, the purchase price,

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<v Speaker 1>that all of that information was already fully publicly accessible

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<v Speaker 1>and so now we're just waiting to see what happens.

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<v Speaker 1>But in the meantime, this this is really taking a

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<v Speaker 1>hit on Silando's shares this morning.

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<v Speaker 2>Okay, so Zelando is one, Pandora is another. In the

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<v Speaker 2>fashion retail space, also moving.

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<v Speaker 1>Why Yeah, it just got upgraded to a by rating

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<v Speaker 1>by Bank of America and the analyst said that the

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<v Speaker 1>company had a very clear catalyst path head and it

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<v Speaker 1>said that also it expects then, I said that they

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<v Speaker 1>expect a much better than expected sales performance in the

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<v Speaker 1>second quarter, and that is because there's a few of

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<v Speaker 1>the pressures that had existed for Pandora potentially lifting. So

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<v Speaker 1>one of the big problems was a very very high

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<v Speaker 1>silver prices. Of course, Pandora makes jewelry and needs that silver,

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<v Speaker 1>and so it meant that it was trying to really

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<v Speaker 1>diversify the materials that it makes is jewelry with But

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<v Speaker 1>now we've got silver down actually quite significantly from the

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<v Speaker 1>peak that I've reached in January, so that's providing a

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<v Speaker 1>little bit of relief. And then also Pandora might be

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<v Speaker 1>benefiting from a US tarriff refunds if that does happen,

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<v Speaker 1>because they've applied for those, so that could potentially lift

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<v Speaker 1>that performance for the second quarter. If we look at

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<v Speaker 1>the share price for Pandora, we can see really a

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<v Speaker 1>slumping throughout the start of this year and then slowly

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<v Speaker 1>recovering now, so it seems that potentially it is getting

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<v Speaker 1>back on track. And that's what we got that Bank

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<v Speaker 1>of America upgrade.

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<v Speaker 3>Now and WISE is seeing a little bump this morning.

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<v Speaker 3>What has got into investors' heads.

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<v Speaker 1>Yeah, so it got a new and announced a new

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<v Speaker 1>buyback program and also results that were in line with expectations.

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<v Speaker 1>So and As has said that this showed kind of

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<v Speaker 1>good momentum in the company, good customer growth, and of

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<v Speaker 1>course the shareholder return part of it is always going

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<v Speaker 1>to be seen as a positive, always going to be

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<v Speaker 1>welcomed by shareholders. It's a bit of a relief for

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<v Speaker 1>Wise because at the beginning of the month, shares took

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<v Speaker 1>a huge hit because of a money laundering investigation. So

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<v Speaker 1>there was a report that some of the wise accounts

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<v Speaker 1>had been used to launder the proceeds of fraud, corruption,

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<v Speaker 1>drug trafficking. And this is the transactions are worth more

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<v Speaker 1>than five hundred million pounds and so why I said

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<v Speaker 1>that it was working with prosecutors in Belgium around this investigation.

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<v Speaker 1>But shares have really taken a plunge of the back

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<v Speaker 1>of that. So having those pretty good results and that

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<v Speaker 1>new buyback has been helpful for the company. This morning

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<v Speaker 1>provided a little bit of relief after the huge plunge

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<v Speaker 1>on June first, actually was at the beginning of the month.

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<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

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