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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll with Caroline Hepger and were joined by Bloomberg proporter Chloe Mela for more.
Chloe, good morning.
Let's start with the news out of France than the French Prime Minister Sebastian Lacorne, who has just resigned. We had French banks in focus before that, and I imagine even more so now.
French banks STIG, ALBNP, Creteggricol, as well as some construction companies like Vincey and if I were already down this morning on the back of expectations that the French government would be on the brink of collapse, and now, of course the resignation is creating that added weakness. The French cocount has already been outperforming underperforming sorry at European piers since the snap election called by EMANUELA Corn last year,
and this will probably not help any further. French stocks with domestic exposures are really the ones to watch there, So banks and construction, as I said, they're reacting quite negatively to this because it points to kind of more political instability, French bonds falling even more out of favor, and a continued budget deadlock as well. And then small caps and midcaps are also to watch because of also that domestic exposure as well. So we'll see how this
pans out. But probably not a good morning this morning for those French stocks.
Yeah. Indeed the cat carn't down one point nine percent in the first hour of European trading, so we'll continue to think about that for French stocks. Then, yes, as you say, banks and others down significantly, a moment to think about what's happening elsewhere in terms of Aston Martin. That's the other big mover downwards today.
Yeah, so fail massively for as a Martain today because it cut its outlook for the second time this year. So first time was over the summer in July, and so it cuts out this morning. Blaming tariffs and also broader economic challenges. It's said, in particular with regards to the tariff that the quota system in the US, which cuts duties on up to one hundred thousand UK made cars, but then leaves any additional exports facing the higher rate, so that quota makes it really hard for British car
makers to plan production and forecast as sales. So it blamed that in particular, it expects now sells to fall because of that weakness in the US but also in Asia, and expects profits to come in below the lower end of expectations despite cost control and raining in a capital spending. This is of course another below to the car industry
in the UK. We obviously have the cyber attack that is continuing to idlink production in foot Jaguar len Rover, and also indicates really this broader slow down the luxury end of that car market.
You know.
Portion Mercedes have also flegged that there is a softer demand in markets like the US in China because of trade tensions kind of weighing on that consumer confidence. So that's really driving down the shares for US and Martin this morning.
Well let's stay with auto stocks and actually one of the few shares that is rising on the cat Carn't today although less than it was a few minutes ago, Chloe Stilantis planning some major investments.
Yeah, very different story for Silanta so up this morning because it is said to be planning about ten billion dollars of investments in the US. So this is part of the new CEO strategy of kind of refocusing on that key US market after previous management had decided instead to invest heavily in Europe and move production to companies like Mexico, for example, and of course that made Silanti's
very vulnerable to tariff. So the investment in the US that really mirrors other moves by companies that we've seen trying to kind of woo Trump and gain exemptions from tariff by building those manufacturing facilities in the country. So we've seen, for example, in pharmaceuticals GSK and Ashra Zeneca announcing those major investments, and Silantis is planning this move at the same time as it's been lobbying the administration to waive or potentially soften the twenty five percent tariff
that would affect its operations in Mexico. And so this move to kind of woo Trump has been welcomed quite warmly by the market and the shes We're up on the back of that this morning.
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