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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 stocks on the move today in Europe. I'm Stephen Carroll and I'm joined by Bloomberg's Breaking News editor Louise Moon. Louise, good morning. Let's start with BP today announcing a major shakeup at the top.
Indeed, yeah, announcing a new CEO, which was quite an unexpected bit of news this morning. So they are replacing the old CEO after just two years and bringing in a lady called Meg O'Neil. So she's coming from Australia's Woodside Energy. She's been there for four years and before that she spent about two decades at Exon in the US, so it marks quite a few firsts. She's the first
female CEO across major oil companies. She's also BP's first outsider who's been appointed as their top boss, and she's being seen as well. Essentially, BB's come under a lot of pressure in the past few years from activist investor Elliott. They're pushing for a huge turnaround and focusing on a focus on their core on oil and gas, which their previous CEO has been doing. He has kind of been
pushing for a major reset. But Analyss is saying that, you know that there's room for more aggression, that there could be a lot more of an aggressive push towards this turnaround. And she's being seen as having quite a what one analyst called a hands on track record in engineering and operations. So it's signaling that that focus will come to the fore and it will be a real
focus on oil and gas. So potentially some good news there, although shares shares aren't reacting too much but did dip slightly that there's a bit of worry about you know that this could bring a bit of near term turbulance for any kind of major push towards that turnaround really happens and comes about. So there's a slight bit of
transition risk, as people are saying. But yeah, a real big shake up at BP, and you know they also had a new chair in July, so it's a lot of change at the top, and you would think that Elliott would now be expecting a real change to happen.
Yeah, indeed, chair is just up by half of one percent for BP this morning in London, but so much going on. As you say, Louise, let's turn into Whitbread next there shows up over six percent. What's going on?
Yeah, So Whitbread the the hotel operators is obviously they're the owner of premit In among other hotel chains. As you say that, they're gaining this morning the biggest game on the foot of one hundred. This is after a activist firm. So in a similar light to BP, an activist firm has accumulated just over a six percent stakes. This is Corvec's management and they're calling for a review of Whitbread. In particular, Whitbread's laid out a five year
billions three point five billion pound investment plan. They're calling for a strategic review of that, and they're saying that the current market price of Whtbread reflects a discount to their fundamental value. And they also want representation on whipbress board. So pushing for that change, which is sending shares higher, so potentially a bit of welcome news or being being welcomed by the market.
Okay, So that's yeah, exactly, as we're seeing those shares higher this morning, you've also been looking, asked Ryan Mattal after an update from the company.
Yeah, the shares a little change on the update, obviously, Ryemetel's always one that's interesting to talk about, and we're talking about you look at their share rally of the past year that it's rallied about one hundred and fifty percent, So little change today, but it's still far higher than they were a year ago. They had a update, they adjusted their fo your outlooks, so they're seeing they're now expecting higher sales and a higher operating margin. A list
are saying, you know, this is quite reassuring. And alongside that update, rhyme Hotel also said that they're aiming to divest one of their units, that's all the remaining civil businesses, and negotiating with two bids for their power systems units. So a bit of change in terms of their business
units and adjusting the outlook higher on two counts. So seen as a reassuring as I say, shares a not majorly change, given this is not you know, kind of a major boost to the stock that's already seen a lot of games.
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