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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 look at some of the stocks on the move today here in Europe. I'm Caroline Hepkin with Lizzie Burton. We joined by Bloomberg reported Climb Malay. Good morning, Chloe. So your Own Next, the CEO has been speaking to Bloomberg. The stock is up for the MIAs in three years.
Why yeah, But it's because really strong results that they came out with last night. So they benefited from very strong trading volumes because of course all of the market volatility that we've seen recently, and also a very good performance from the Greek Stock.
Exchange that they bought just last year.
And so Jeffrey's analyst said that Your Next remains the best story in European exchanges, so there's a lot of optimism around that stock. What they've said about the trading volumes that echoes what we've heard from other change operators, like the London Stock Exchange Group, for example, which said that it also had seen some very heavy trading volumes and that would boost the outlook.
The CEO of.
Urinext said that the market had kind of pivoted towards thinking that the war and Iran will maybe last a bit longer then expected, and so that Europe was benefiting from that search of diversification from investors because they essentially see Europe as a little bit less exposed to the conflict, and so that's apparently boosted Urinex.
Another thing to note when it comes to.
Their company is the potential disruption from the anthropic Mythos model as well, given that European institutions remained kind of largely locked out of access to that model. But the CEO said that he was putting in place alliances in partnerships with other non US players that are facing the same issues. But overall we're seeing those results really boost the stock that morning.
This morning and Chloe were just talking about retail in depth when it comes to the supermarkets, M and S actually doing better than feared.
Yeah, doing quite well and seems to be very much back on track after the major cyber attack that they suffered from last year, which had really paralyzed online sales for I think four months. So they said that it expects profit to exceed the level that they had seen before the attack, and that was already the highest level in more than fifteen years, so going even beyond that, and it looks like both the food segment and the
fashion segment are doing quite well. The food in particular is in good shape and it seems that the turnaround under the CEO is working. The plan is to double online sales, so as part of that, it bought a logistics squarehouse from ESOS earlier this month. It also plans to expand overseas and we've seen that expansion in the US and in Australia, and also having a partnership with
Zelando to speed up delivery to European customers. So it's doing quite well in terms of getting those things on track. There's still the issue of obviously quite weak consumer confidence in the UK, the impact of higher energy prices, higher shipping costs because of the war. But the turnoverall was quite positive from m ands and so we've seen the chairs up quite strongly this morning.
Okay, so that's from the retail sector. What about the disfense and industrial firm CSG with earnings out today.
Yeah, it's quite interesting. So this is a company that was listed at the start of this year.
It was delunked.
Yeah, yeah, it was the largest ever IPO of a defense company. But chairs yeah, really struggled, tumbled as soon as they were listed, and then it's really interesting that they were doing quite well today on the back, as you said, of the earnings. So strong earnings, a strong order book, bright outlook for the year ahead, but then also potentially some deals in the making. So the CFO said that the company was monitoring multiple acquisition targets, but
declined to elaborate any further. There's actually been reports this month that CSG had approached the family that owns the tank maker.
K NDS with an offer to buy a stake.
The CFO refused to comment on that specific report, but there's a sense that big deals might be in the pipeline, and that, coupled with the strong earnings that is leading the stock hire.
This morning 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.