WEBVTT - Fresnillo falls, RELX Rebounds, IHG Jumps 

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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 have a look at some of the individual stocks

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<v Speaker 3>on the move today. Here in your pim Caroline Hetkat

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<v Speaker 3>and I'm joined bubbling Berg Report to Cloimba Lay.

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<v Speaker 1>Good morning.

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<v Speaker 3>Let's start with metals and Fresnillo moving today.

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<v Speaker 1>Tell us more. Yeah, Fresnillo is coming down this morning.

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<v Speaker 4>It is in the red because silver prices are also

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<v Speaker 4>coming down quite sharply. So in January we had seen

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<v Speaker 4>silver prices jumping to record after record, but it has

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<v Speaker 4>been a lot more volatile this month in February, and

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<v Speaker 4>that has been driven by a risk off market environment,

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<v Speaker 4>driven by a lot of profit taking as well after

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<v Speaker 4>this massive rally at the beginning of the year, and

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<v Speaker 4>then also some expectations around rate cuts that have driven

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<v Speaker 4>commodities down as well. And so fresniochez do tend to

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<v Speaker 4>move in tandem with precious metal prices. And given the

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<v Speaker 4>massive rally that we saw in gold, for example, we

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<v Speaker 4>so saw shares really jump massively at the start of

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<v Speaker 4>the year. Now we have this weakness in silver, and

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<v Speaker 4>that is of course then translating in some weakness in

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<v Speaker 4>the share price for Fresno. The earnings for that company

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<v Speaker 4>are actually coming soon in just a couple of weeks,

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<v Speaker 4>so we'll see how that has affected everything. But it's

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<v Speaker 4>expected that those really massive swings in prices will affect

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<v Speaker 4>the bottom line itself too much, and that cash generation

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<v Speaker 4>margins should be in pretty good shape.

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<v Speaker 1>So we'll see.

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<v Speaker 4>How the earnings are actually doing when we get that

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<v Speaker 4>in a couple of weeks.

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<v Speaker 3>Yeah, the euphoria that we saw in January around silver

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<v Speaker 3>markets is really fading now, isn't it. Meanwhile, the AI trade,

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<v Speaker 3>I mean, it's a story that we are just so

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<v Speaker 3>focused on in terms of how it's affecting shares in relics.

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<v Speaker 3>This is a company we've been tracking because of its

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<v Speaker 3>potential exposure to AI.

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<v Speaker 4>Yeah, absolutely, so, some of that AI disruption trade that

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<v Speaker 4>has been really dominating.

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<v Speaker 1>The narrative over the last couple of weeks.

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<v Speaker 4>We're seeing that a little easing off a little bit

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<v Speaker 4>at today's.

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<v Speaker 1>Seeing some reversal at least for some names.

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<v Speaker 4>So Relix, Peerson as well, Experience were in the green.

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<v Speaker 1>Actually this morning.

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<v Speaker 4>After seeing quite a big sell off in the last

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<v Speaker 4>couple of weeks, and Bank of America analysts said that

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<v Speaker 4>last week actually that some of the d rating for

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<v Speaker 4>Relics in particular around those AI fears was quite overdone,

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<v Speaker 4>said that it was a top stock for this year

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<v Speaker 4>and that it's still had a really great competitive advantage.

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<v Speaker 4>So perhaps we are seeing investors calm down a little

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<v Speaker 4>bit on this AI sell off, though it's still is

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<v Speaker 4>a very much top of mind, and perhaps instead of

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<v Speaker 4>just kind of jumping shares in everything, trying to figure

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<v Speaker 4>out which of these software stocks or information and analytic

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<v Speaker 4>stocks will actually come out on top in which will

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<v Speaker 4>actually really struggle. You know, not all software stocks are

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<v Speaker 4>created equal, and now it's time for investors to do

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<v Speaker 4>the digging on where the sell off is overdone and

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<v Speaker 4>where it's justified. And it seems that this in trying

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<v Speaker 4>to figure this out, Relics has been determined to be

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<v Speaker 4>more of an AI winner despite all that sell off

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<v Speaker 4>that we've seen recently.

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<v Speaker 1>Yeah, okay, that's interesting.

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<v Speaker 3>So the AI story has not been written yet, really,

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<v Speaker 3>has it. No Intercontinental Hotels have released results today. How

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<v Speaker 3>investors reacting to IHG.

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<v Speaker 1>Really well it's because there's.

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<v Speaker 4>Been a big buyer back, so we have a nine

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<v Speaker 4>hundred and fifty million dollar buyback, and then also earnings

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<v Speaker 4>that came in slightly ahead of expectations, and the company

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<v Speaker 4>is quite confident for the year ahead. Sees the rebound

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<v Speaker 4>in demand across those different markets, including the markets that

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<v Speaker 4>have struggled a little bit more recently, like China and Europe.

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<v Speaker 4>It has been really bullish on the US for a while,

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<v Speaker 4>saying that there's been quite a lot of resilience in

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<v Speaker 4>the economy in the US that has been really supporting

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<v Speaker 4>business travel, for example, and for twenty twenty six, the

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<v Speaker 4>US will still be a really big part of that strategy.

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<v Speaker 4>Some of the premium offering will also be a big

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<v Speaker 4>part of the strategy. As you just spoke to the

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<v Speaker 4>CFO right before coming on now, and you said that

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<v Speaker 4>there's been a little bit of weakness with the shutdown

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<v Speaker 4>last year in the US, but that there has been

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<v Speaker 4>a real pickup since then, and that things like the

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<v Speaker 4>World Cup for example, later this year will be a

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<v Speaker 4>real big boost, really beneficial for the company. He also

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<v Speaker 4>said that he was really encouraged by what he's seeing

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<v Speaker 4>in China with demand really picking up, and so we've

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<v Speaker 4>seen the Cheers moving higher this morning and driving also

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<v Speaker 4>other hotel operators higher like Whitbread and a Core were

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<v Speaker 4>also higher this morning. So it's been an industry with

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<v Speaker 4>excuse me, quite a lot of weakness in over twenty

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<v Speaker 4>twenty five. There has been, of course, quite low consumer

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<v Speaker 4>confidence that's affected that, but it seems that at least

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<v Speaker 4>for IHG, things are really turning around.

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

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