Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's look at some of the stocks on the move
Speaker 1: today here in Europe. I'm Caroline Hepgar with Vonnie Quinn
Speaker 1: and we'll bring in Bloomberg with porter Tiba Adebayer to
Speaker 1: take us through what is happening in markets. And let's
Speaker 1: start with the minor Bolladin shares, moving on news from
Speaker 1: the firm at a crucial time of course for the
Speaker 1: sector overall. Been talking about lots of miners this week, so.
Speaker 3: We're actually seeing declines across the mining sector this morning.
Speaker 3: Boliden one of the biggest losers on the stock six hundred,
Speaker 3: down as much as seventeen percent. This firm has mining
Speaker 3: operations in Europe. They sell metals and mineral products primarily
Speaker 3: but also gold, and this particular drop is due to
Speaker 3: an update from the firm about a key mine in
Speaker 3: Sweden which they say will be operating at around thirty
Speaker 3: percent of capacity until further notice, and this is expected
Speaker 3: to have a broader effect on their margins, affecting ebert
Speaker 3: DA negatively at today's prices dropping because analysts say they
Speaker 3: had modeled in a more benign impact from this disruption,
Speaker 3: so as surprised to the downside. There also Morgan Stanley
Speaker 3: noting that the affected facility is Boliden's largest and most
Speaker 3: profitable mining assets, so perhaps further losses to come in
Speaker 3: the next few days.
Speaker 1: That's massive lost today at least well in terms of consumers.
Speaker 2: Next share is arising, but they also have a warning
Speaker 2: about the Middle East conflict.
Speaker 1: Why should Next be warning about the Middle East?
Speaker 3: Yeah, that's right. So Next is climbing this morning after
Speaker 3: their latest updates, up by the most since October last year,
Speaker 3: and that is after they announced an expected pretax profit
Speaker 3: of just over one point two billion pounds. That's slightly
Speaker 3: higher than their January forecasts. And that's even despite the
Speaker 3: potential impact of the Middle East conflict on supply chain
Speaker 3: resilience and also consumer But I do have to caveat
Speaker 3: this because they did also have some harsh warnings as
Speaker 3: you mentioned, about the impact of the Middle East conflict.
Speaker 3: They're saying that they'll have to raise prices if this
Speaker 3: war persists, and they expect it to add fifteen million
Speaker 3: pounds of costs now. So far these costs have been
Speaker 3: offset by savings elsewhere, but there is this worry that,
Speaker 3: depending on how long the war carries on, those costs
Speaker 3: could end up being passed on to consumers. But it
Speaker 3: does seem that investors are choosing to focus on the positives,
Speaker 3: at least for now. One analyst from Jeffreys saying the
Speaker 3: update is reassuring given next strong trading in the UK. Yeah.
Speaker 1: I also notice H and M sort of saying something similar,
Speaker 1: weakening picture because of what's happening in the Middle East,
Speaker 1: and maybe they're not exposed specifically to that, but it's
Speaker 1: about consumer behavior elsewhere. So their share price is also
Speaker 1: down today. Finally, Aviva, why is their stock dropping?
Speaker 3: You know, Aviva's down as much as four point six
Speaker 3: percent today and this is all based on sort of
Speaker 3: growing fears around credit. So yes, so we saw the
Speaker 3: bank Jeffries missed Wall Street estimates. The important bit here
Speaker 3: is that Jeffries was dragged down by losses on credit bets.
Speaker 3: There's also an area's private credit fund posted its deepest
Speaker 3: monthly loss on record, and also we heard from the
Speaker 3: ex Goldman CEO Lloyd blank Fain saying there's a risk
Speaker 3: of fire in private markets. So European companies tied to
Speaker 3: private credit are in the spotlight in this first hour
Speaker 3: of trading. We're watching names like Axa, Alion's Legal in general,
Speaker 3: and the risk in this sector is something that we've
Speaker 3: been discussing for a while now. There were of those
Speaker 3: infamous comments from Jamie Diamond about cockroaches in the sector,
Speaker 3: and just yesterday a Bloomberg exclusive about Barclay's pulling back
Speaker 3: on its asset back loans, so perhaps this is just
Speaker 3: slightly starting to price that in now. Definitely something to
Speaker 3: watch over the coming days.
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