1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:16,200 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,320 --> 00:00:17,800 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:17,840 --> 00:00:20,239 Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:20,280 --> 00:00:22,560 Speaker 3: by Bloomberg's Breaking News editor Louise Moon. 7 00:00:22,640 --> 00:00:23,560 Speaker 1: Louise, good morning. 8 00:00:24,040 --> 00:00:27,200 Speaker 3: Let's start with home builders in the UK under pressure 9 00:00:27,280 --> 00:00:29,200 Speaker 3: after the latest house price data. 10 00:00:29,200 --> 00:00:30,840 Speaker 1: You've been looking at Barras, Redrow on. 11 00:00:30,840 --> 00:00:35,160 Speaker 4: Others, Yes, indeed all of them really shares are lower. 12 00:00:35,240 --> 00:00:36,920 Speaker 4: So yeah, as you say, red Roy, which is the 13 00:00:36,960 --> 00:00:42,400 Speaker 4: UK's largest house builder, also includes Taylor Wimpe, Vestry, Berkeley Group, Belway, Personman, 14 00:00:42,760 --> 00:00:46,440 Speaker 4: all the main big names are down this morning. Losses 15 00:00:46,520 --> 00:00:48,760 Speaker 4: are so firstly, I'll say this is on the back 16 00:00:48,800 --> 00:00:51,280 Speaker 4: of as you say, new data from right moves. So 17 00:00:52,120 --> 00:00:56,640 Speaker 4: prices had surged in January and then this latest data 18 00:00:56,720 --> 00:00:59,160 Speaker 4: is for February and showing that those house prices have 19 00:00:59,240 --> 00:01:03,400 Speaker 4: stalled p rebably flat for February. That's because of essentially 20 00:01:03,440 --> 00:01:06,919 Speaker 4: there's so many properties on the market that it's giving 21 00:01:07,160 --> 00:01:10,840 Speaker 4: buyers more bargaining power, and so those prices are kind 22 00:01:10,840 --> 00:01:14,440 Speaker 4: of flatlining for this month, so weighing on all of 23 00:01:14,440 --> 00:01:16,120 Speaker 4: the stocks as a whole. But then if we do 24 00:01:16,240 --> 00:01:17,960 Speaker 4: also hone in on Barrett red Road, they're getting a 25 00:01:18,000 --> 00:01:19,920 Speaker 4: bit of extra bad news. 26 00:01:19,920 --> 00:01:21,000 Speaker 1: Losses are steeper there. 27 00:01:21,720 --> 00:01:24,680 Speaker 4: That's also because in addition to the right Move data, 28 00:01:25,480 --> 00:01:28,520 Speaker 4: they've had a note from pill Hunt, they've been downgraded 29 00:01:28,520 --> 00:01:32,039 Speaker 4: by pill Hunt and Deutsche Bank has cut their forecast 30 00:01:32,160 --> 00:01:34,280 Speaker 4: and price target as well for Barrett red Rod, so 31 00:01:34,319 --> 00:01:36,400 Speaker 4: a bit of a double whammy for them. But yeah, 32 00:01:36,400 --> 00:01:40,120 Speaker 4: the overall kind of sector news is that those prices 33 00:01:40,200 --> 00:01:43,880 Speaker 4: have stalled in February, and there was a sort of note, 34 00:01:43,880 --> 00:01:48,040 Speaker 4: one interesting note from an RBC analyst saying that even 35 00:01:48,080 --> 00:01:51,000 Speaker 4: though the housing market has had a relatively strong start 36 00:01:51,040 --> 00:01:54,680 Speaker 4: to the spring season, the second hand market is giving 37 00:01:54,720 --> 00:01:57,440 Speaker 4: house build around for their money. And he's saying one 38 00:01:57,520 --> 00:01:59,800 Speaker 4: match doesn't decide a season, but currently in twenty twenty 39 00:01:59,800 --> 00:02:02,880 Speaker 4: six it's do or up as one new build nil. 40 00:02:03,440 --> 00:02:06,160 Speaker 4: So there's a little quote to end that section for you. 41 00:02:06,240 --> 00:02:07,919 Speaker 4: But yeah, that's the current state of the house market 42 00:02:08,360 --> 00:02:09,240 Speaker 4: in the UK. 43 00:02:09,720 --> 00:02:13,000 Speaker 3: Nice has some good supporting analogies as well. Let's turn 44 00:02:13,080 --> 00:02:15,119 Speaker 3: to that West next. Their shares are at by four 45 00:02:15,160 --> 00:02:19,000 Speaker 3: point two percent today. What's happened, Yes, leading the one 46 00:02:19,080 --> 00:02:22,120 Speaker 3: hundred this morning. That's as a couple of things. 47 00:02:22,160 --> 00:02:25,120 Speaker 4: Firstly, their buyback is kicking in that was previously announced 48 00:02:25,360 --> 00:02:28,280 Speaker 4: for seven hundred and fifty million pounds that's starting today. 49 00:02:28,520 --> 00:02:31,560 Speaker 4: And then at the same time, City has also raised 50 00:02:31,639 --> 00:02:34,320 Speaker 4: their price target for that West, so they've raised their 51 00:02:34,400 --> 00:02:38,760 Speaker 4: estimates for pretext profit and EPs. This is after now 52 00:02:38,800 --> 00:02:41,679 Speaker 4: we're seen as essentially had quite a host of good news. 53 00:02:41,720 --> 00:02:42,799 Speaker 1: They had their results I. 54 00:02:42,720 --> 00:02:45,639 Speaker 4: Think it was last week, and they came in very 55 00:02:45,680 --> 00:02:47,880 Speaker 4: strong higher interest income. 56 00:02:49,440 --> 00:02:50,680 Speaker 1: Overall, it was very strong. 57 00:02:50,760 --> 00:02:53,320 Speaker 4: And then on top of that, about a week before, 58 00:02:53,639 --> 00:02:56,760 Speaker 4: there was also the deal for them to buy Evelyn Partners, 59 00:02:56,760 --> 00:02:59,640 Speaker 4: which is a wealth manager, so pushing into the wealth 60 00:02:59,680 --> 00:03:05,320 Speaker 4: manager spaces, they kind of diversify their revenue streams. And 61 00:03:05,400 --> 00:03:07,880 Speaker 4: all of this is proving to be positive as of yet. 62 00:03:08,000 --> 00:03:10,400 Speaker 4: And yeah, City has raised their price style on the 63 00:03:10,400 --> 00:03:11,679 Speaker 4: back of that. A bit of a double whammy for 64 00:03:11,800 --> 00:03:12,240 Speaker 4: out West. 65 00:03:12,639 --> 00:03:14,920 Speaker 3: Okay, we're going to turn next to Rose Bank Industries. 66 00:03:15,000 --> 00:03:17,239 Speaker 3: Are stock not moving because it's just been suspended in 67 00:03:17,240 --> 00:03:18,080 Speaker 3: the past few minutes. 68 00:03:18,160 --> 00:03:20,520 Speaker 1: What's going on? It has Yeah, this is a bit 69 00:03:20,560 --> 00:03:21,640 Speaker 1: of a breaking story. 70 00:03:21,880 --> 00:03:26,680 Speaker 4: So Rosebanks is so obviously the company that's relatively new, 71 00:03:26,720 --> 00:03:30,400 Speaker 4: set up by former Melros industry executives. They're in advanced 72 00:03:30,400 --> 00:03:34,480 Speaker 4: talks to buy to what they've said is to private 73 00:03:34,480 --> 00:03:37,880 Speaker 4: acuity owned US businesses, and this is for a headline 74 00:03:38,000 --> 00:03:41,240 Speaker 4: enterprise value of just over three billion dollars. They say 75 00:03:41,280 --> 00:03:43,600 Speaker 4: that will be funded through a combination of an equity 76 00:03:43,600 --> 00:03:46,240 Speaker 4: issue which will be about one point nine billion pounds, 77 00:03:46,480 --> 00:03:49,840 Speaker 4: and then also new debt facilities. So they released this 78 00:03:49,920 --> 00:03:53,440 Speaker 4: press statement about ten minutes ago saying that trading had 79 00:03:53,480 --> 00:03:57,480 Speaker 4: actually already been suspended because Sky broke the news, so 80 00:03:57,520 --> 00:04:00,800 Speaker 4: they had the report on this potential deal. Sky have 81 00:04:00,920 --> 00:04:04,400 Speaker 4: said that the businesses they've named the businesses or potential 82 00:04:04,400 --> 00:04:08,640 Speaker 4: businesses as being CPM and MW Industries, both US listed. 83 00:04:08,880 --> 00:04:11,840 Speaker 4: Rosebank haven't actually named them, but that was the report 84 00:04:11,880 --> 00:04:15,440 Speaker 4: from Sky, So potentially big MNA deal talks that they 85 00:04:15,440 --> 00:04:16,720 Speaker 4: say they're in advanced talks. 86 00:04:16,760 --> 00:04:19,600 Speaker 1: So whether or not it'll come to fruition, we'll be watching. 87 00:04:19,640 --> 00:04:22,760 Speaker 4: But as you say, yeah, share the actually been suspended 88 00:04:23,360 --> 00:04:24,160 Speaker 4: on the back of. 89 00:04:24,080 --> 00:04:29,560 Speaker 2: That the stock mover's report from Bloomberg Radio check back 90 00:04:29,600 --> 00:04:31,839 Speaker 2: with us throughout the day For the latest roundup of 91 00:04:31,880 --> 00:04:35,159 Speaker 2: companies making news on Wall Street, and for the latest 92 00:04:35,200 --> 00:04:39,400 Speaker 2: market moving headlines. 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