WEBVTT - Boliden Slumps, Next Gains, Aviva Drops 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's look at some of the stocks on the move

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<v Speaker 1>today here in Europe. I'm Caroline Hepgar with Vonnie Quinn

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<v Speaker 1>and we'll bring in Bloomberg with porter Tiba Adebayer to

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<v Speaker 1>take us through what is happening in markets. And let's

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<v Speaker 1>start with the minor Bolladin shares, moving on news from

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<v Speaker 1>the firm at a crucial time of course for the

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<v Speaker 1>sector overall. Been talking about lots of miners this week, so.

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<v Speaker 3>We're actually seeing declines across the mining sector this morning.

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<v Speaker 3>Boliden one of the biggest losers on the stock six hundred,

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<v Speaker 3>down as much as seventeen percent. This firm has mining

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<v Speaker 3>operations in Europe. They sell metals and mineral products primarily

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<v Speaker 3>but also gold, and this particular drop is due to

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<v Speaker 3>an update from the firm about a key mine in

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<v Speaker 3>Sweden which they say will be operating at around thirty

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<v Speaker 3>percent of capacity until further notice, and this is expected

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<v Speaker 3>to have a broader effect on their margins, affecting ebert

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<v Speaker 3>DA negatively at today's prices dropping because analysts say they

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<v Speaker 3>had modeled in a more benign impact from this disruption,

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<v Speaker 3>so as surprised to the downside. There also Morgan Stanley

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<v Speaker 3>noting that the affected facility is Boliden's largest and most

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<v Speaker 3>profitable mining assets, so perhaps further losses to come in

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<v Speaker 3>the next few days.

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<v Speaker 1>That's massive lost today at least well in terms of consumers.

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<v Speaker 2>Next share is arising, but they also have a warning

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<v Speaker 2>about the Middle East conflict.

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<v Speaker 1>Why should Next be warning about the Middle East?

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<v Speaker 3>Yeah, that's right. So Next is climbing this morning after

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<v Speaker 3>their latest updates, up by the most since October last year,

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<v Speaker 3>and that is after they announced an expected pretax profit

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<v Speaker 3>of just over one point two billion pounds. That's slightly

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<v Speaker 3>higher than their January forecasts. And that's even despite the

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<v Speaker 3>potential impact of the Middle East conflict on supply chain

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<v Speaker 3>resilience and also consumer But I do have to caveat

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<v Speaker 3>this because they did also have some harsh warnings as

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<v Speaker 3>you mentioned, about the impact of the Middle East conflict.

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<v Speaker 3>They're saying that they'll have to raise prices if this

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<v Speaker 3>war persists, and they expect it to add fifteen million

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<v Speaker 3>pounds of costs now. So far these costs have been

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<v Speaker 3>offset by savings elsewhere, but there is this worry that,

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<v Speaker 3>depending on how long the war carries on, those costs

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<v Speaker 3>could end up being passed on to consumers. But it

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<v Speaker 3>does seem that investors are choosing to focus on the positives,

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<v Speaker 3>at least for now. One analyst from Jeffreys saying the

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<v Speaker 3>update is reassuring given next strong trading in the UK. Yeah.

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<v Speaker 1>I also notice H and M sort of saying something similar,

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<v Speaker 1>weakening picture because of what's happening in the Middle East,

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<v Speaker 1>and maybe they're not exposed specifically to that, but it's

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<v Speaker 1>about consumer behavior elsewhere. So their share price is also

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<v Speaker 1>down today. Finally, Aviva, why is their stock dropping?

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<v Speaker 3>You know, Aviva's down as much as four point six

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<v Speaker 3>percent today and this is all based on sort of

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<v Speaker 3>growing fears around credit. So yes, so we saw the

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<v Speaker 3>bank Jeffries missed Wall Street estimates. The important bit here

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<v Speaker 3>is that Jeffries was dragged down by losses on credit bets.

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<v Speaker 3>There's also an area's private credit fund posted its deepest

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<v Speaker 3>monthly loss on record, and also we heard from the

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<v Speaker 3>ex Goldman CEO Lloyd blank Fain saying there's a risk

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<v Speaker 3>of fire in private markets. So European companies tied to

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<v Speaker 3>private credit are in the spotlight in this first hour

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<v Speaker 3>of trading. We're watching names like Axa, Alion's Legal in general,

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<v Speaker 3>and the risk in this sector is something that we've

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<v Speaker 3>been discussing for a while now. There were of those

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<v Speaker 3>infamous comments from Jamie Diamond about cockroaches in the sector,

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<v Speaker 3>and just yesterday a Bloomberg exclusive about Barclay's pulling back

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<v Speaker 3>on its asset back loans, so perhaps this is just

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<v Speaker 3>slightly starting to price that in now. Definitely something to

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<v Speaker 3>watch over the coming days.

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