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Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
But let's second look at some stocks on the move today in Europe. I'm Stephen Carroll and I'm joined by Bloomberg reporter Chloe Melee.
Chloe, good morning.
Let's start with a stock that if you were to make a joke, you'd say it could be all Gucci.
Yeah. Absolutely, Yeah.
Caring is up very strongly this morning because the sales at Gucci, which is its flagship brand, actually but they did drop ten percent in the last quarter, but crucially that was very much in line with what analysts had expected. So for investors, for analysts, that's seen as reassuring. It's a signed that the turnaround under the new CEO, Luca Demo, who started in September, is progressing quite well. Although it
might take a while, it's making progress. And so the next big catalyst for Caring is really going to be the debut collection of the new Gucci design A Demna, which is happening in a couple of weeks at mid An Fashion Week. So that will be closely watched by investors as well as stylists, and for Caring results are encouraging, and then for the broader luxury sector this is also
seen as quite reassuring. You know, we started the season with some positive updates from Barbera and Richmond, but then we had the big setback of LVMH coming in with a quite down beat outlook with disappointing results. But now we've got those Carrying results and that will perhaps fuel the hope of a luxury rebound that is actually going to be happening at some point this year. So we are very strongly for carrying and that drove the rest of that luxury sector this morning, all in the green.
Okoye, I'm on a roll with joke, so I'm proud of myself for it does BP has turned for buyback pause.
It might just be BP is indeed pausing is shared buyer bags, which is a big deal for an oil company, given that this is a sector that is really known for and appreciated by investors for those consistent shareholder returns, and SOP is holding those buyo bags and also raised its target for cost cuts.
For this year, I mean through to twenty twenty seven.
So this pausing of buyo bags those efforts to reduce costs. This is all part of an attempt to shore up the balance sheet and that is part of the attempt as well of this turnaround strategy, this refocus.
On oil and gas that BP has been working on.
And twenty twenty five has been a difficult time for the company. It started with pressure from activist investor Elliot. It ended with the chairman getting rid of the CEO. We also had oil prices weakening towards the end of last year, adding to those challenges, and so the hope is that twenty twenty six will be a little bit better.
We've got a new CEO coming in in April.
She's got a really really major track record of championing fossil fuels, so investors see her as accelerating that shift towards towards oil and guess in away from clean energy, and her appointment was taken quite well by the market when it was announced.
But she does have a really big task ahead of her. And I'll be serious for the last one, Chloe. We're going to turn to Barclays next. Shares in the bank rising slightly again this morning, but it's after it had a very good year.
Yeah, it had a really really good year in twenty twenty five, and it looks like today from the results that twenty twenty six will also be pretty good. So the performance from last year is expected to continue. We had, for example, the trading division, which has been a major revenue driver throughout twenty twenty five. Because of all the market volatility that we saw, it had another great quarter. It's probably going to have a grade twenty twenty six
as well. And then the targets that were set for twenty twenty eight seemed to kind of show confidence that the company has plans to return more than fifteen billion pounds to shareholders through to twenty twenty eight. So shares were initially higher at the open, but then had some of those gains now hovering a little bit quite flat.
Some of those that.
Weakness might be driven by disappointment on those payout targets. You know, fifteen billion pounds sounds like a lot to me, but and lizad actually initially expected that it would be more around seventeen billions, so there might be a bit
of disappointment there. There's also a question mark that remains around Trump's plans to cap interest rates on credit cards over in the US that would potentially have quite a big impact on the US business for Barclays, and the CFO said this morning that this would lead to week of volumes, so that exposure to the US is going to be also really much, very much in focus going forward to.
Barclays 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.