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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: The Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: Let's take a look at some of the stocks on

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Speaker 3: the move today here in Europe. I'm Caroline Hepka with

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Speaker 3: Tom McKenzie, and we're joined Berburenberg reporter Cloim Lay. Let's

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Speaker 3: start with BP, which has agreed to divest its stake

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Speaker 3: in US shale assets. How's the market responding to that

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Speaker 3: in what is going to be a big week for earnings.

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Speaker 1: Yeah, absolutely, so, it seems that the market is responding

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Speaker 1: quite positively to that decision to divers states from BP.

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Speaker 1: It's obviously part of this wider plan for the oil

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Speaker 1: major to shore up its balance sheet and to win

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Speaker 1: back some investor confidence after years and years of underperformance.

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Speaker 1: This is also the underperformance that put it in the

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Speaker 1: line of sight of the activist investor earlier investment management,

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Speaker 1: and that has pushed BP to kind of refocus on

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Speaker 1: oil and guess in divest some of the other assets.

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Speaker 1: The new chairman, Albert Manifold, said that the company has

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Speaker 1: to act with urgency to cut costs, sell those assets

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Speaker 1: and improve profitability. So it's pledged to divest twenty billion

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Speaker 1: dollars of assets by the end of twenty twenty seven.

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Speaker 1: So far, it's managed to strike a deal to sell

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Speaker 1: its US on shore wind business, which means that it

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Speaker 1: has now completely exited a wind power generation. It's also

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Speaker 1: agreed to offload its Dutch retail fuel sites and also

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Speaker 1: electric vehicle charging hubs, so it is making that progress there.

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Speaker 1: So we'll get more update on how it's kind of

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Speaker 1: managing this turnaround at the third quarter result tomorrow, where

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Speaker 1: we'll get probably an update on that strategy going forward.

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Speaker 3: Okay, and we're going to switch Forcus to Compari Group

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Speaker 3: now Chloe, which is dropping fow an Italian tax fraud probe.

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Speaker 3: How potentially damaging is this?

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Speaker 1: What are the details? Yeah, Well, Italian prosecutors ordered the

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Speaker 1: seizure of around one point three billion euros in shares

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Speaker 1: from the holding company that controls Compari, so it's not

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Speaker 1: directly affected, but it is part of this tax fraud probe,

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Speaker 1: so it relates to alleged unpaid taxes on assets moved abroad,

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Speaker 1: and it is related to the Luxembour base holding company Elekfin,

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Speaker 1: and this is related to the alleged failure to pay

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Speaker 1: exit tax on about five point three billion euros of

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Speaker 1: capital gains generated when it absorbed an Italian subsidiary. So

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Speaker 1: Compare Yourself is not under investigation, and it's said that

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Speaker 1: it does not expect the litigation to impact it or

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Speaker 1: any of its subsidiaries. But analysts are saying that the

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Speaker 1: news is likely to put that pressure on the shares

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Speaker 1: regardless of that direct impact, with an overhang on the

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Speaker 1: shes until that tax dispute is clarified. And as I've

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Speaker 1: said that the shares seized amount of out to about

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Speaker 1: sixteen percent of the Compari market capitalization, which could be

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Speaker 1: material if the Italian authorities were going to monetize that

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Speaker 1: to settle that tax to.

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Speaker 3: That on Campari Group. We've also been looking at Ryanair today.

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Speaker 3: The airline expects to exceed passenger growth targets, but the

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Speaker 3: CEO also issued quite a fourth right. I guess it

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Speaker 3: was a threat or the threat of a consequence for

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Speaker 3: the government here too.

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Speaker 1: Yeah. Absolutely, So there's quite a lot of news actually

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Speaker 1: coming up Ryaner this morning. So a profit came in

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Speaker 1: ahead of expectations, as you said, raise the target for

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Speaker 1: passenger growth this year thanks to really strong travel demand

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Speaker 1: and also improving Boeing deliveries. But then we also have

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Speaker 1: the CEO and striking quite a cautious stone and saying

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Speaker 1: that any taxes would lead to a refocus on production

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Speaker 1: for Ryanair. It said that. He said also it was

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Speaker 1: too early to provide a meaningful profit guidance for the

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Speaker 1: four years, so that was also quite that cautious tone

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Speaker 1: that I mentioned, and some analysts have noted that there

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Speaker 1: was a lack of guidance upgrade on profit after tax,

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Speaker 1: and so all of that has led to a bit

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Speaker 1: of weakness in the chefs despite those Boing deliveries improving,

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Speaker 1: despite the profit coming in ahead of expectors, and some

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Speaker 1: of them I also have had had to do with

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Speaker 1: a really strong share price performance recently. It's a company

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Speaker 1: that has been really outperforming with and EasyJet, which are

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Speaker 1: the closest budget airline arrivals, and so it has been

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Speaker 1: pairing maybe some of those games. After really strong share

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Speaker 1: price performance.

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Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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