WEBVTT - Next Jumps, Glencore Rallies, Heineken Rises

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

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

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

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<v Speaker 3>Let's take a look at some stocks on the move

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<v Speaker 3>now today in Europe. I'm Rachel Evans with Stephen Carroll,

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<v Speaker 3>and we're joined by Bloomberg's Breaking News editor Louise Boon. Louis,

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<v Speaker 3>thanks for being here. Let's begin with Next. Next is

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<v Speaker 3>rising after a boost to their sales.

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<v Speaker 1>Tell us more yes shares a hitting a record high

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<v Speaker 1>this morning, adding to gaines already this year. They've already

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<v Speaker 1>been gaining through the year through to close yesterday. So

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<v Speaker 1>Next had their second quarter results this morning. Key thing

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<v Speaker 1>is they lifted guidance for the third time this fiscal year.

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<v Speaker 1>So Next has a track record of doing this under

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<v Speaker 1>their CEO, often lifting guidance but still remaining a bit

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<v Speaker 1>conservatives that they then beat, and ANALYSTA saying that this

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<v Speaker 1>new lift is still conservative and at leaves for more

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<v Speaker 1>beats going forward.

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<v Speaker 4>So positive on that front.

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<v Speaker 1>And then in in terms of sales, sales surged and

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<v Speaker 1>really lifted by overseas. So overseas sales rose thirty seven percent.

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<v Speaker 1>They noted pent up demand they say in the Middle

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<v Speaker 1>East and northern Europe in particular. This is something that

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<v Speaker 1>Next has been really pushing. It's been really pushing its

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<v Speaker 1>overseas unit as well as online, so that's kind of

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<v Speaker 1>evidence that that's working. And then at home also quite

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<v Speaker 1>as solid performance. So they noted the warmer weather and

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<v Speaker 1>also the World Cup as benefiting sales in the UK.

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<v Speaker 1>So it's a bit of a success story, I guess

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<v Speaker 1>in terms of the high street. Next is known as

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<v Speaker 1>a high street bell weather here in the UK, so

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<v Speaker 1>it bodes well for the sector as a whole and

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<v Speaker 1>kind of as the latest indicator showing that consumers actually

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<v Speaker 1>being quite resilient despite a lot of uncertainty and rising costs.

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<v Speaker 4>So, as I say, shares hitting a record high for Next, Okay,

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<v Speaker 4>so that's on Next. Let's got a glen Core Next.

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<v Speaker 4>Their show is rallying after their ownings.

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<v Speaker 1>Indeed, yeah, their first half results profits jumped for two

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<v Speaker 1>main reasons, a bit of a twofold one. So on

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<v Speaker 1>the one hand, their trading unit benefited from all this

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<v Speaker 1>market upheaval that we've been seeing on the back of

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<v Speaker 1>conflict in the Middle East. This has been seen across

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<v Speaker 1>a lot of commodity trading houses as well as other

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<v Speaker 1>sectors like banking as well, benefiting from that market upheaval.

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<v Speaker 1>So that's on the one hand, and then on the

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<v Speaker 1>other hand, coal, which is glen Call's big earner, that

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<v Speaker 1>has also been hitting record prices, so benefiting from that.

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<v Speaker 1>So glen Call's earnings from coal rose thirty five percent.

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<v Speaker 1>And then away from the numbers, they're also returning about

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<v Speaker 1>three point five billion US dollars to shareholders this year.

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<v Speaker 1>And then another kind of thing that they also announced

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<v Speaker 1>this morning is they're planning to apply for secondary listing

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<v Speaker 1>in the in Australia. They say they've had a big

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<v Speaker 1>push for investors to do this. They say Australia's got

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<v Speaker 1>a deep pool of capital, deep knowledge of the industry,

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<v Speaker 1>and this is glen Core has been looking for ways

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<v Speaker 1>to attract more equality raise their share price, so this

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<v Speaker 1>is potentially an effort to do that. So shares rising

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<v Speaker 1>about five percent in morning trade on the back of

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<v Speaker 1>those profits, the back of that buyback, and also applying

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<v Speaker 1>for that secondary listing.

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<v Speaker 3>And finally, how is Heineken fairing after their earnings and

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<v Speaker 3>the World Cup of.

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<v Speaker 4>Course, Yeah, doing well.

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<v Speaker 1>Shares up about three percent, also adding to gains seen

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<v Speaker 1>this year so far, had quite a strong second quarter,

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<v Speaker 1>so volumes grew unexpectedly. This is mostly down to more

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<v Speaker 1>emerging markets. They've seen quite strong demand in Asia and

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<v Speaker 1>in Africa in particular, and that's offsetting what's been quite

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<v Speaker 1>persistent weakness elsewhere, so in Europe and particularly in America.

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<v Speaker 1>It hasn't been doing that well in America, so that's

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<v Speaker 1>what unless really highlighting. They're highlighting that outperformance in Asia,

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<v Speaker 1>showing that it's that Heinegan is improving execution of its

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<v Speaker 1>plan to rely more on those emerging markets and also

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<v Speaker 1>boosting its cash flow as well.

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<v Speaker 4>So good news.

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<v Speaker 1>It's been lagging a bit recently behind rivals, so the

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<v Speaker 1>likes of Carlsberg and others in turning itself around after

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<v Speaker 1>the pandemic and the post pandemic slump. So rivals have

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<v Speaker 1>been doing a bit better with that, and Heineken's kind

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<v Speaker 1>of been taking a lot of measures to improve itself

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<v Speaker 1>to cost cutting drives, cutting jobs. But yeah, so these

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<v Speaker 1>strong second quarter figures kind of show that they're tapping

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<v Speaker 1>into that demand in Asia and that's benefiting them.

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<v Speaker 2>The stock movers report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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