1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,640 --> 00:00:18,560 Speaker 3: Let's have a look at some of the individual stocks 5 00:00:18,560 --> 00:00:20,520 Speaker 3: on the move today. Here in your pim Caroline Hetkat 6 00:00:20,600 --> 00:00:22,480 Speaker 3: and I'm joined bubbling Berg Report to Cloimba Lay. 7 00:00:22,560 --> 00:00:23,680 Speaker 1: Good morning. 8 00:00:23,920 --> 00:00:26,840 Speaker 3: Let's start with metals and Fresnillo moving today. 9 00:00:26,880 --> 00:00:29,960 Speaker 1: Tell us more. Yeah, Fresnillo is coming down this morning. 10 00:00:29,960 --> 00:00:32,400 Speaker 4: It is in the red because silver prices are also 11 00:00:32,440 --> 00:00:35,880 Speaker 4: coming down quite sharply. So in January we had seen 12 00:00:35,960 --> 00:00:39,760 Speaker 4: silver prices jumping to record after record, but it has 13 00:00:39,840 --> 00:00:42,880 Speaker 4: been a lot more volatile this month in February, and 14 00:00:42,920 --> 00:00:45,600 Speaker 4: that has been driven by a risk off market environment, 15 00:00:45,720 --> 00:00:47,680 Speaker 4: driven by a lot of profit taking as well after 16 00:00:47,720 --> 00:00:50,519 Speaker 4: this massive rally at the beginning of the year, and 17 00:00:50,520 --> 00:00:53,360 Speaker 4: then also some expectations around rate cuts that have driven 18 00:00:53,560 --> 00:00:57,760 Speaker 4: commodities down as well. And so fresniochez do tend to 19 00:00:57,800 --> 00:01:01,680 Speaker 4: move in tandem with precious metal prices. And given the 20 00:01:01,720 --> 00:01:03,760 Speaker 4: massive rally that we saw in gold, for example, we 21 00:01:03,800 --> 00:01:06,600 Speaker 4: so saw shares really jump massively at the start of 22 00:01:06,640 --> 00:01:09,080 Speaker 4: the year. Now we have this weakness in silver, and 23 00:01:09,120 --> 00:01:11,920 Speaker 4: that is of course then translating in some weakness in 24 00:01:11,959 --> 00:01:15,240 Speaker 4: the share price for Fresno. The earnings for that company 25 00:01:15,280 --> 00:01:17,520 Speaker 4: are actually coming soon in just a couple of weeks, 26 00:01:18,000 --> 00:01:21,200 Speaker 4: so we'll see how that has affected everything. But it's 27 00:01:21,200 --> 00:01:24,880 Speaker 4: expected that those really massive swings in prices will affect 28 00:01:24,920 --> 00:01:28,040 Speaker 4: the bottom line itself too much, and that cash generation 29 00:01:28,520 --> 00:01:30,080 Speaker 4: margins should be in pretty good shape. 30 00:01:30,120 --> 00:01:31,080 Speaker 1: So we'll see. 31 00:01:31,280 --> 00:01:33,560 Speaker 4: How the earnings are actually doing when we get that 32 00:01:33,680 --> 00:01:34,440 Speaker 4: in a couple of weeks. 33 00:01:34,600 --> 00:01:37,360 Speaker 3: Yeah, the euphoria that we saw in January around silver 34 00:01:37,440 --> 00:01:41,959 Speaker 3: markets is really fading now, isn't it. Meanwhile, the AI trade, 35 00:01:42,120 --> 00:01:43,959 Speaker 3: I mean, it's a story that we are just so 36 00:01:44,200 --> 00:01:48,600 Speaker 3: focused on in terms of how it's affecting shares in relics. 37 00:01:48,680 --> 00:01:52,240 Speaker 3: This is a company we've been tracking because of its 38 00:01:52,280 --> 00:01:53,680 Speaker 3: potential exposure to AI. 39 00:01:53,920 --> 00:01:56,640 Speaker 4: Yeah, absolutely, so, some of that AI disruption trade that 40 00:01:56,720 --> 00:01:58,800 Speaker 4: has been really dominating. 41 00:01:58,240 --> 00:01:59,919 Speaker 1: The narrative over the last couple of weeks. 42 00:02:00,120 --> 00:02:02,360 Speaker 4: We're seeing that a little easing off a little bit 43 00:02:02,520 --> 00:02:03,360 Speaker 4: at today's. 44 00:02:03,000 --> 00:02:05,040 Speaker 1: Seeing some reversal at least for some names. 45 00:02:05,080 --> 00:02:08,520 Speaker 4: So Relix, Peerson as well, Experience were in the green. 46 00:02:08,560 --> 00:02:09,840 Speaker 1: Actually this morning. 47 00:02:09,680 --> 00:02:11,839 Speaker 4: After seeing quite a big sell off in the last 48 00:02:11,880 --> 00:02:14,760 Speaker 4: couple of weeks, and Bank of America analysts said that 49 00:02:14,880 --> 00:02:16,920 Speaker 4: last week actually that some of the d rating for 50 00:02:17,000 --> 00:02:20,800 Speaker 4: Relics in particular around those AI fears was quite overdone, 51 00:02:21,160 --> 00:02:23,160 Speaker 4: said that it was a top stock for this year 52 00:02:23,160 --> 00:02:26,200 Speaker 4: and that it's still had a really great competitive advantage. 53 00:02:26,240 --> 00:02:29,320 Speaker 4: So perhaps we are seeing investors calm down a little 54 00:02:29,320 --> 00:02:31,240 Speaker 4: bit on this AI sell off, though it's still is 55 00:02:31,280 --> 00:02:34,280 Speaker 4: a very much top of mind, and perhaps instead of 56 00:02:34,360 --> 00:02:36,919 Speaker 4: just kind of jumping shares in everything, trying to figure 57 00:02:36,960 --> 00:02:40,200 Speaker 4: out which of these software stocks or information and analytic 58 00:02:40,280 --> 00:02:42,799 Speaker 4: stocks will actually come out on top in which will 59 00:02:42,800 --> 00:02:46,080 Speaker 4: actually really struggle. You know, not all software stocks are 60 00:02:46,160 --> 00:02:49,160 Speaker 4: created equal, and now it's time for investors to do 61 00:02:49,240 --> 00:02:51,480 Speaker 4: the digging on where the sell off is overdone and 62 00:02:51,520 --> 00:02:55,320 Speaker 4: where it's justified. And it seems that this in trying 63 00:02:55,360 --> 00:02:57,920 Speaker 4: to figure this out, Relics has been determined to be 64 00:02:58,320 --> 00:03:00,560 Speaker 4: more of an AI winner despite all that sell off 65 00:03:00,560 --> 00:03:01,480 Speaker 4: that we've seen recently. 66 00:03:01,680 --> 00:03:03,400 Speaker 1: Yeah, okay, that's interesting. 67 00:03:03,520 --> 00:03:06,399 Speaker 3: So the AI story has not been written yet, really, 68 00:03:06,440 --> 00:03:10,720 Speaker 3: has it. No Intercontinental Hotels have released results today. How 69 00:03:10,919 --> 00:03:13,720 Speaker 3: investors reacting to IHG. 70 00:03:13,720 --> 00:03:15,280 Speaker 1: Really well it's because there's. 71 00:03:15,080 --> 00:03:16,440 Speaker 4: Been a big buyer back, so we have a nine 72 00:03:16,520 --> 00:03:20,280 Speaker 4: hundred and fifty million dollar buyback, and then also earnings 73 00:03:20,280 --> 00:03:23,600 Speaker 4: that came in slightly ahead of expectations, and the company 74 00:03:23,919 --> 00:03:26,440 Speaker 4: is quite confident for the year ahead. Sees the rebound 75 00:03:26,680 --> 00:03:29,640 Speaker 4: in demand across those different markets, including the markets that 76 00:03:29,680 --> 00:03:33,320 Speaker 4: have struggled a little bit more recently, like China and Europe. 77 00:03:33,480 --> 00:03:35,880 Speaker 4: It has been really bullish on the US for a while, 78 00:03:35,920 --> 00:03:38,400 Speaker 4: saying that there's been quite a lot of resilience in 79 00:03:38,520 --> 00:03:42,600 Speaker 4: the economy in the US that has been really supporting 80 00:03:42,680 --> 00:03:46,000 Speaker 4: business travel, for example, and for twenty twenty six, the 81 00:03:46,080 --> 00:03:48,680 Speaker 4: US will still be a really big part of that strategy. 82 00:03:49,360 --> 00:03:51,440 Speaker 4: Some of the premium offering will also be a big 83 00:03:51,480 --> 00:03:54,080 Speaker 4: part of the strategy. As you just spoke to the 84 00:03:54,120 --> 00:03:56,720 Speaker 4: CFO right before coming on now, and you said that 85 00:03:56,760 --> 00:03:59,960 Speaker 4: there's been a little bit of weakness with the shutdown 86 00:04:00,160 --> 00:04:01,800 Speaker 4: last year in the US, but that there has been 87 00:04:01,800 --> 00:04:04,080 Speaker 4: a real pickup since then, and that things like the 88 00:04:04,080 --> 00:04:06,160 Speaker 4: World Cup for example, later this year will be a 89 00:04:06,160 --> 00:04:09,680 Speaker 4: real big boost, really beneficial for the company. He also 90 00:04:09,720 --> 00:04:11,920 Speaker 4: said that he was really encouraged by what he's seeing 91 00:04:12,200 --> 00:04:14,800 Speaker 4: in China with demand really picking up, and so we've 92 00:04:14,840 --> 00:04:17,599 Speaker 4: seen the Cheers moving higher this morning and driving also 93 00:04:17,720 --> 00:04:21,680 Speaker 4: other hotel operators higher like Whitbread and a Core were 94 00:04:21,720 --> 00:04:24,760 Speaker 4: also higher this morning. So it's been an industry with 95 00:04:25,279 --> 00:04:28,119 Speaker 4: excuse me, quite a lot of weakness in over twenty 96 00:04:28,200 --> 00:04:31,719 Speaker 4: twenty five. There has been, of course, quite low consumer 97 00:04:31,800 --> 00:04:34,599 Speaker 4: confidence that's affected that, but it seems that at least 98 00:04:34,680 --> 00:04:36,560 Speaker 4: for IHG, things are really turning around. 99 00:04:37,360 --> 00:04:41,360 Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with 100 00:04:41,440 --> 00:04:44,040 Speaker 2: us throughout the day for the latest roundup of companies 101 00:04:44,120 --> 00:04:47,200 Speaker 2: making news on Wall Street and for the latest market 102 00:04:47,240 --> 00:04:51,719 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 103 00:04:51,800 --> 00:04:55,279 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 104 00:04:55,360 --> 00:04:56,839 Speaker 2: the Bloomberg Business app.