Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move
Speaker 3: today in Europe. I'm Stephen Carroll and I'm joined by
Speaker 3: Bloomberg's Breaking News editor Louise Moon. Louise, good morning. Let's
Speaker 3: start with ASML. What's the latest.
Speaker 1: So shares down this morning as much as four point
Speaker 1: nine percent. Obviously, this is that broader full in European
Speaker 1: semiconductive stocks, this unwinding of the tech trade that we're
Speaker 1: seeing across Europe. It's obviously not just ASML that's being affected,
Speaker 1: but a host of other stocks as well, on the
Speaker 1: back of the AI trades being that were popular in
Speaker 1: the first half kind of losing ground. There's concerns about
Speaker 1: the sustainability of AI spending and this obviously, this kind
Speaker 1: of pullback obviously comes despite some quite strong results that
Speaker 1: we've seen and ray guidance from ASML earlier this week
Speaker 1: and TSMC over in Asia on Thursday. So yeah, there's
Speaker 1: this wider pullback that was seeing across Europe and heavily
Speaker 1: impacting ASML shares this morning.
Speaker 3: Okay, so that's on the tech sector. As we're thinking
Speaker 3: about the impact really globally in that sell off, let's
Speaker 3: start into fashion next to some positive news for Birberys
Speaker 3: terribly impressed.
Speaker 1: Well no exactly. So Birbery has been embarking on this
Speaker 1: turnaround for two or so years under the then new CEO.
Speaker 1: It's essentially returning to its core so tartan trench coats.
Speaker 1: It's cut a lot of inventory, cut prices and kind
Speaker 1: of ramping up this celebrity appeal, a lot of a
Speaker 1: host of celebrities globally seen and all their adverts. Now
Speaker 1: this seems to be paying off. So today, for the
Speaker 1: first time in three years, Burbury sales have grown across
Speaker 1: all of its rangers. First called sales as a whole rose,
Speaker 1: particularly boosted by the US SO twelve p ccent growth
Speaker 1: in the US nine percent. In China, they particularly noted
Speaker 1: gen z are picking up items and one of their
Speaker 1: celebrity campaigns led to a nineteen percent rise in Rain
Speaker 1: where so in Rain where customers so all positive, but
Speaker 1: really there's more to do. So partly they are partly
Speaker 1: being affected by the middle East. There's been a bit
Speaker 1: of a hit from the situation in the Middle East,
Speaker 1: and that's hurt that overall European sales Asia also grew
Speaker 1: less than expected, and overall comparable sales slightly missed estimates.
Speaker 1: So shares, as you say, actually falling this morning. Investors
Speaker 1: are saying, yes, this turnaround is taking shape, but there's
Speaker 1: still some headwinds, and now they're looking at how and
Speaker 1: when Berbery will actually grow going forward and grow that profitability.
Speaker 3: Okay, grab that Berwbery Transcourt Louise, because we're going shopping
Speaker 3: for Italian banks.
Speaker 1: Indeed, this has some really interesting news and wanting. So
Speaker 1: the latest in what has been a lot of Italian
Speaker 1: banking sector consolidation in kind of recent months. So Montitepache
Speaker 1: is at the center of the bidding of a bidding
Speaker 1: one and the latest is that they've expressed concerns over
Speaker 1: a takeover bid by Inteza. They've highlighted at the same
Speaker 1: time the benefits of a rival pitch by Banco BPM.
Speaker 1: So they're saying that Antessa's pricing is low and that
Speaker 1: their plans for the bank if they were to take over,
Speaker 1: seem to rely on quite optimistic assumptions while exposing shareholders
Speaker 1: to quite a few risks, and they also noted the
Speaker 1: potential for antitrust concerns. And then in contrast, they said
Speaker 1: that the Banco BPM bid, in their words, deserves a
Speaker 1: comprehensive and rigorous assessment. So Banko BPM haven't disclosed their
Speaker 1: valuation with the proposal, but Monteepache is saying that, you know,
Speaker 1: one of the reasons that they think this could be
Speaker 1: more positive is that it wouldn't require a breakup of
Speaker 1: their business, of their branch networks, of their brand, So
Speaker 1: they seem more positive on that rival bid. So we're
Speaker 1: keeping a close eye to see if and when some
Speaker 1: more consolidation will happen there in Italy, but shared all
Speaker 1: three banks actually falling amid kind of border declines in
Speaker 1: the stock markets.
Speaker 2: This morning the Stockmovers Report from Bloomberg Radio. Check back
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