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The Stock Movers Report, your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg Data.
Let's take a look at some of the stocks on the move today in Europe. I'm Jacksitters with Caroline Hepcare. We're joined by Bloomberg's Breaking news editor Louise Moon. Morning, Louis, So starting with Barrett redro climbing this morning. What's driving games?
Yes, there's kind of a host of factors at play here. So as you say, Barret Redbrow up this morning as much as two point seven percent in morning trading. The most immediate news is that they've been upgraded by Berenberg to a buy. Belway has also been upgraded, which is another obviously UK home builder, and the stock is also
rising up about two point three percent. So Behrenberg saying that depressed valuations, strong balance sheets and attractive capital returns all show opportunities for these two housebuilders despite what's kind
of the wider downbeat market outlook. And then it's kind of stepping away from that, it's also just been relatively strong weak for housebuilders anyway, partly on the back of these you know, bets pairing back on Beerwie, raising interest rates, and also for Barrett specifically, one of their shareholders has said that while they support their longtime strategy, they think they need a new approach to capital allocations, so essentially
should be increasing share buybacks to create value for shareholders and that particularly has been boosting Barrett. So quite a few things at play, but yeah, this morning is mostly on the back of that upgrade from Barrenberg.
Okay, interesting. Yeah, and those home builders in the UK always in focus to see actually how you translate the political desire to have greater housebuilding, you know, into these companies that are having quite a lot of difficulty delivering a lot of the time, right J Yeah.
Absolutely. I mean, obviously, you know, mortgage raids being the absolute key thing. But it'd be interesting to see how the house bulders respond to potential Andy building premiership. I think a sense from talking to executives there, he's been relatively pro student as Mayor of Manchester in terms of public private partnerships, the deals they've been willing to do with the private sector, something that I think a lot of them would welcome elsewhere. Yeah.
Absolutely, let's also think though about Volkswagen VW with some big jobs news in terms of announcing cuts. How investors reacting.
Yes, So this is a report from a local media organization over in Germany, right, essentially that Volkswagen are looking to double job cuts. So that's the many as one hundred thousand, which is pretty significant. It's about fifteen percent of total headcount for Volkswagen. And they may also shut factories. So they're saying that these plans will be presented by the CEO at a board meeting this week, and it
also includes other things. So for example, more generally he wants to cut over her costs by eleven billion euros by the end of the decade. And as I say, closing factories as well. Shares are actually little moved, partly to kind of two key reasons. One, it's part of a wider push anyway by the CEO to slim down Volkswagen. You know that the sector is battling our host of headwinds that we've spoken about before, taris, weakness in China, more competition in Europe, so that's kind of known anyway.
And then two plans, initial plans often actually get watered down by labor representatives that make up half of the board. And that's so this, as I said, this is going to be presented to the board. So that and they're already kind of citing resistance to these plans anyway, So whether or not this will come to fruition, so shares, as I say, little moved this morning.
I finally a plunge for Zilando. Far bit for me to say. But are they going out of style?
Well potentially, yeah, So the online fashion retailer again in Germany. This is on the back of news that the financial regulator there has launched a probe into their twenty twenty five report their suspected violation of accounting rules. So what this is all about is the takeover of another company, Arrival called about You, and the issue being that the regulator is saying that Zilando failed to disclose that its largest shareholder was also a major shareholder in About You
before the deal. It was disclosed in the offer document but not in their annual report. So Alice is saying they don't expect, you know, much much of a material fine, and Zelando is saying that it's in close contact with the regulator, but shares are still down over ten percent in Frankfurt despite that, so we'll be keeping a close eye on that one.
The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.