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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Kaa with Caroline Hepbrom. We're joined for that Ba Bloomberg's Breaking news editor at Louise Moon. Louise, let's start with OURMEZ shares down eight and a half percent at the moment after their latest results.
Indeed, yeah, a disappointing set of numbers from them, So shares actually planned the most on record this morning. So first called sales grew, but essentially they took a hit from the Eram war, so they grew five point six percent, but they had been expected to grow more than seven percent.
That's partly as revenue from the Middle East itself fell so from the region, but it also the war also impacted sales elsewhere, so French, Swiss and UK stores in particular all saw falls due to a lack of Middle Eastern shoppers. And this is being seen all across the
ductury industry. So we also had carrying this morning their first quarter sales also fell so and Gucci in particular their sales tumbled down eight percent, which was almost double expectations, and the war as a total for the group for Caring had a one percentage point negative impact on overall sales. And then we also had eldomh saying similar earlier this week, so it's yeah, it's being seen across the ductury industry and I'm really hitting their share prices this week.
Yeah, absolutely, even though they've opened obviously twenty fifth manufacturing plant for their leather goods only a few weeks ago. Elsewhere, m and A news Standard Life driving moves.
Yes. So Standard Life, the insurer listed in London, is buying the Dutch insurer Egon's UK ARM. So that's for a total of two billion pounds. So some of that is cash and some of that is in new shares. So there's been quite a long on running bidding process for this against the lights of Lloyd's Bank and quite a home to other people. But Standard Life came out on top with that, so Egon will become a fifteen
just over fifteen percent shareholder of Standard Life. It adds a lot of customers to Standard Life of almost four million new customers and analysts are saying the price looks good, so being welcomed. Shares slightly higher on the news. In terms of kind of the wider context, it's, you know, it's the latest deal in the insurance space. We've had
a Viva and Direct line last year. We had Zero Insurance and Beasley earlier this year, so there's a lot more competition in this space, particularly among UK pension providers. Firms are trying to expand both their offerings and their number of customers, so that's on the standard life side, and then for egg On itself their focus, their focus in general is to move to shift towards the US, so benefiting both parties with this deal.
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