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 take a look at some of the stocks on
Speaker 1: the move today in Europe. I'm Lizzie Burton alongside Stephen
Speaker 1: Carroll and were joined in the studio by Bloomberg reporter
Speaker 1: Chloe Mela. Chloe, I want to start with Porsche speeding
Speaker 1: ahead from the other motto makers this morning.
Speaker 3: Yeah, absolutely so. Porsche actually on Friday evening reported its
Speaker 3: first quarterly loss since its IPO and that it was
Speaker 3: due to a three billion euro hit this year from
Speaker 3: US tariffs and its decision to scale back its electric ambition.
Speaker 3: We remember that last month they did cut its guidance,
Speaker 3: which was the fourth time this year. And obviously that
Speaker 3: quarterly loss of almost one billion euros does look quite
Speaker 3: bad on the surface, but you said that it is
Speaker 3: indeed driving ahead, speeding ahead, and the shews are doing
Speaker 3: quite well this morning, because if we dig a little deeper,
Speaker 3: they are actually reasons to be optimistic in this statement
Speaker 3: that we had on Friday. So some analyst noted that
Speaker 3: the loss wasn't as bad as expected, and the margin
Speaker 3: of almost ten percent looked quite resilient, and that's really
Speaker 3: boosting sentiment because there's now expectations that are returned to
Speaker 3: form could be under way and that better days could
Speaker 3: be coming as soon as at twenty twenty six. There's
Speaker 3: still a lot of challenges, of course, the moon for
Speaker 3: luxury electric vehicles is still very weak. There's obviously supply
Speaker 3: chain disruptions happening at the moment in that auto market.
Speaker 3: But the hope for Porsche is that cost cuts and
Speaker 3: drastic changes the lineup of its models with the real
Speaker 3: emphasis on SUVs will kind of help it come out
Speaker 3: of this quite difficult period.
Speaker 4: Okay, So that's what's going on with Porsche this morning.
Speaker 4: To glen Core next, and interesting to think about how
Speaker 4: the moves that we've seen in summer metal prices are
Speaker 4: effects on the share price today.
Speaker 3: Yeah, So glen Core and other big mining companies were
Speaker 3: up this morning after copper advanced towards in all time high,
Speaker 3: which was because of that hope that the US and
Speaker 3: China are making good progress on a deal. So US
Speaker 3: and Chinese trade negotiators wrapped up the talks on Sunday
Speaker 3: that appears to be teeing up a deal for Trump
Speaker 3: and using pink to be finalizing later this week, with
Speaker 3: the threat of one hundred percent tarists from Trump definitely
Speaker 3: off the table. Copper's actually been pretty strong throughout this year,
Speaker 3: but that has been actually mostly due to a series
Speaker 3: of mind disruptions in country that produce a lot of copper,
Speaker 3: and then also the decline of the dollar, which made
Speaker 3: commodities priced in dollars much more attractive. But this particular
Speaker 3: rise that we saw today rests really on this broader
Speaker 3: optimism that global economic growth will be stronger if China
Speaker 3: and the US find this common ground, So that is
Speaker 3: really driving those mining stocks higher this morning.
Speaker 1: And finally Cory some surprise M and A for sid Bank.
Speaker 1: How's the market reacting?
Speaker 3: Yeah, so Danish bank Said bank has agreed to buy
Speaker 3: two rivals to combine into one bigger bank, with the
Speaker 3: new entity becoming, among well being one of Denmark's five
Speaker 3: largest bank. So we've seen the shares the said bank
Speaker 3: rise quite a lot this morning on news of that deal,
Speaker 3: which was actually really unexpected. So an economist at nod
Speaker 3: Net in Denmark called the acquisition a genuine surprise and
Speaker 3: said that it was it came completely out of the blue,
Speaker 3: but it seems to be welcomed quite warmly by the market.
Speaker 3: This comes as we've seen quite a lot of consolidation
Speaker 3: in that nording Nordic banking sector. We saw a DNB
Speaker 3: recently take over Carnegie, and it's also, of course been
Speaker 3: quite a lot of consolidation at least a lot at
Speaker 3: least of a lot of talk or attempts of consolidation
Speaker 3: in the European banking sector more generally, some of the
Speaker 3: big proposals have failed, of course, we know about BBV
Speaker 3: in Sabadel, UniCredit and Commerce Bank is stalled at the moment,
Speaker 3: so perhaps those smaller deals maybe the way forward.
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