Bloomberg Audio Studios, podcasts, radio news.
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 of the stocks on the move today in a year on Tom McKenzie alongside carnting Hecker. We can bring in now Bloomberg's Breaking News editor Louise Moon and Louise. First up is m Ands and it seems to have been finding its growth mojo arguably and at least putting behind it a pretty major cyber attack.
Yeah, so this is its four year results. So with the cyber attack, essentially driven by the cyber attack, pretax profit fell twenty four percent, but they're saying that is purely really down to that. So overall results are kind of less severe than expected. And then, as you say, it expects growth to from now on essentially resume back to normal. So the year before Emins had actually hit the highest pretext profit in fifteen years, so it's expecting
things to go back to that. So a bit of a blip and essentially has been knocked off course, and now it's saying it will be back on course from now on. So shares rose actually on the back of that, despite that dip so rose as much as five point five percent. So as I say, going forward, they there was quite fighting talk actually from Stuart match In, the CEO in the statement essentially saying they're continuing with their turnaround plans that includes a lot more presence online and
a lot more presence overseas. Did acknowledge obviously there's kind of the wider headwinds that's facing retail in terms of consumer sentiment, weakening, higher costs obviously because of the Middle East. So that was acknowledged, but plowing ahead, he said, sleeves are rolled up and growth is going to be back on track.
Okay, so that from Marks and Spencer's, then the high street tool store work. Now let's think about supermarkets. What have the share prices of supermarkets done in the UK with this, you know, really surprising, as Bloomberg's chief UK economists Dana Hands have put it in a very surprising policy to try to maybe cap get the supermarkets to cap prices of basic goods.
Yeah, so not reacting well really, so shares falling. If you look at Tesco's and Sainsbury's both quite heavily in the red in trading this morning. As you say, so that's Reeves proposing to potentially ask supermarkets to voluntarily freeze their food prices and then in return they'd get less regulatory burdens. So nothing's been agreed and those food or potential food price freezes wouldn't be imposed. But saying that
Reeves is in talks with the supermarkets. Of course, this is all with the wide aim of trying to find ways to alleviate the cost of living burden on the average brit and Reeves is expected to announce a package of measures tomorrow. But this is one of the potential measures. As I say, shares falling no surprises. There was a very angry reaction from retailers, obviously criticizing Reeves for adding another headwinds, so potentially causing loss making in stores they're
already facing. As I mentioned with m ands, they're already facing a lot of headwinds, you know, high cost energy, everything else already contend with. So this would be another hit to them if and when it happens.
And on the techfront, you're keeping an eye on ASML.
Yes, ASML and kind of the wider tech and sem conductive space across Europe. So if you look at the Eurostos fifty, it's slightly up to day and the biggest contributors there is tech stock, so you've got asmls you mentioned, You've also got Infinian and then tech Investor Process, so a host of big tech names potentially ahead of in Nvidio earnings latest day, so a bit of excitement they're
running through the tech sector. Sales estimated to have grown eighty percent, but essentially the focus more is what they're going to say for what lies ahead for the techt base, So a bit of an indicator as to the health of AI more widely. So yeah, that is running through markets this morning, and also one of the reasons why the foote hundred is underperforming. It hasn't got a lot of techtocs, so underperforming there and giving a bit of a boost to Europe.
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