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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll and I'm joined by Bloomberg reporter Chloe Melee Chloy.
Good morning.
Let's start then with Brunello Cucinelli, the luxury stock gaining as much as six point six percent following their earnings.
Tell us more Yes, adding season is starting, which I'm sure everyone is very excited about. Brunello Cucinelli is often the very first name in their luxury space to report, and it tends to set the tone a little bit and it is a positive turn.
As you said, those shares.
Moving higher this morning, so we've got revenue beating estimates and really growing across all regions. And then also some optimism for the year ahead as well. And so Bloomberg Intelligence said that the results really confirmed that Brunellukutch Nellie's focus on the more affluent part of the luxury market is working, especially in the context of the geopolitical tensions
and then the economic downturn that comes with that. So this is really the same thing that Emmas benefits from as well, which is that their target audience is essentially so wealthy that they're not as affected by inflationary pressures or we consumer sentiment as much as you know, you and I would be. And so we'll be hearing from Emmas as well next week, so we'll see if that is also the case for them.
And we also have LVMH and caring next week.
So by next Friday, a week from now, we'll have a better sense of how well luxury is doing and which names really within that space are standing out.
I very quickly a centered and I said, then when you said, you and I suggesting that we aren't luxury sharper, which I feel like it's not the sort of amage that we want to necessarily be projecting. You know, let's say aspirational about it. Perhaps we could be the sort of people that are shopping in these companies too. Exactly exactly, we'll talk later. Let's turn next to Share that is den Sharply this morning, this is the French catering companies to Taxel.
Yeah, very bad day for them, so they cut their guidance this morning and they expect the weakest sales growth in five years for this year, and it said that there had been both internal and external challenges. So internally there's been a lot of underinvestment and some execution challenges, they said, and that means that Sodexo is essentially underperformed its competitors in the broader market.
And then externally there's of course the.
Macro uncertainty resulting in some lower volumes as well, and that's probably something that we're going to be hearing a
lot from companies throughout this earning season. And this is saying this is very much a matter of the new CEO clearing the decks and gearing up for a reset, although that will be a challenging So the new CEO was appointed back in October and he's already overseen kind of a big review of contracts and of assets and that's already resulted in about eighty million euros of provisions
tied to those underperforming assets. So now it's really a matter of moving that forward and resetting that strategy and rebuilding that credibility according to analysts. But in the meantime, that guidance cut has really really hit the shares.
This morning, indeed, Yeah, a big drop in those share prices. We are keeping an eye, of course, on energy companies again today, Chloe. With the US around talks in focus, you've been looking at BP among others.
Yeah, there's a bit of weakness in those oil companies, including BP, this morning after what has been a very turbulent week for that sector.
There was obviously the huge drop in.
Oil prices and oil companies shares on Wednesday because of that ceasefire agreement, and then the reversal of that yesterday because hope was really quickly replaced by fears that the ceasefire wouldn't hold.
Today, it's a bit more of a mixed picture.
Markets are a bit unsure, kind of neither optimistic nor pessimistic, but kind of just holding their breath really until the peace talks starts. So US and AROUND will be meeting in Pakistan on Saturday, and the main sticking point is going to be that reopening of the Strait of Hall Moves. Traffic still isn't flowing through the strait, but Trump said that he's optimistic that a deal can be struck with Irun. In the meantime, though we're seeing oil all of those oil.
Companies being in slightly negative territory.
This morning the Stock Mover's 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.