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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 your I'm Tom ckenzie with Caroline Hecker and we are joined now by Bloomberg Report to Choe Mala Chloe. Let's start with Greg's, then an activist investor urging the British food chain to cut costs.
Yeah.
Absolutely.
They said that if Greg's doesn't set a minimum of twenty million pounds of annual costs that it would make it a prime takeover target. So Greg's share price is down more than forty percent this year. It's also London's most shortened stock, so this additional pressure on that company
is not surprising. Greg's did say last month that it was making progress despite the really challenging market conditions that it's finding itself in, but it seems that investors are not quite convinced that it is making as much progress and that is doing as much as it could do to kind of turn things around. The company is struggling with rising prices for its raw ingredients and also minimum wage increases, and the company had also blamed hot weather
earlier this year for slower cells. Perhaps it's true that people weren't fewer sausage roles during a heat wave, but obviously can't do anything about the weather. But now pressure is mounting to get other issues that it can control under control.
Okay, so that on Gregg's here in the UK. Bigger picture though, in Europe wants to think about defense and the German Titan. Ryan Mettal, how is the stock reacting because this week, as one of the key European leaders has been saying EU leaders that is that this could be a pivotal week for diplomacy when it comes to Ukraine.
Yeah, absolutely so, Ryan Mattel is down this morning. Other defense stocks like hand sold and teal Esba across the board. Really we are down this morning because US and Ukraine negotiators said that they had quite productive discussions on that piece deal between US and sorry, between the UN recurrent in Russia. There's been no breakthrough yet, but there seems to be some progress which is sending those shares down
across that industry. And now the US Special Envoice Steve whitcov is heading to Russia today to continue talks there with Russia, and a lot rests on those talks and what is actually going to transpire from those. Over the last week or so, we have seen defense stocks either rally or fall depending on the details emerging from those talks and kind of general sentiment about whether or not
a deal is likely. And right now it seems that the narrative is that it's still very delicate, it's still uncertain, but there is progress happening, and therefore we seeing that weakness across those weapons makers.
And you have an update as well for US on the mining giant fres Nilos Copper hits new records.
Yeah, so copper reached a record high, and that is because of fears around a potential supply crunch. So a lot of that has to do with a lot of mind disruptions that happened this year and that obviously hurt production. That there's less supply and therefore demand is higher. And then there's also silver that rose to record high, and that is because of expectations of a rate cut in the US and lower borering costs usually benefit those precious metals.
And then also very tight supply for silver. The main reason behind that is that that shortage is that there was a record amount of silver that flowed into London
in October to ease a historic squeeze. Then that is, London is the world's biggest silver trading hub, and that as in turn put other centers under pressure and therefore inventories were down and therefore prices we're going up, and so minus overall are doing quite well because of copper and silver hitting those record highs, and a Fresne in particular is doing particularly well because it's a gold and silver miners particularly exposed to those movements in silver, and
therefore it was up quite strongly this morning.
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