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Let's look at some of the individual stocks on the move today in Europe. I'm Caroline Hepgar with Lizzie Burden, were joined by Bloomberg reporter Climb Malay. So megaweek of earnings and we finish with nat West in terms of banks in the UK.
Yeah, and on the face of it, for Networks it looks pretty positive, so it'd be expectations for a lot of different metrics. It said that customers were still borrowing and saving quite a bit, and so that means that it will be able to achieve the upper end of its guidance for twenty twenty six. It also set aside less than expected to cover bed loans, which is in contrast with what other European banks have been saying throughout the week, with a lot of them actually having higher provisions.
But Networks has actually fell this morning, so it seems that all of this was not enough maybe for investors. So a list noted that the improved guidance was actually already expected and already priced in, and that some metrics like net interest income missed estimates as well, So overall there is a little bit of disappointment, but it's not
necessarily a worrying update from NETWIST. One analyst said that this is the kind of update that bank investors can work with in the really nervous market that we've got at the moment. You know, it's an update that's not flawless, but it's profitable, well capitalized, backed by a better guidance,
so it's essentially good enough. And overall UK banks this week I've pointed to actually a fair bit of resilience given the geopolitical context that we're operating in, and saying that there is no sign of stress yet but signaling that there might be a rise in unemployment, that there might be some impact from that higher inflation, but perhaps the second quarter will give a greater sense of what the impact actually is.
Now, we've all been watching the King's visit to Washington and New York, but no one more closely, it seems in Diagia.
Yeah, absolutely. Diado's up this morning after Trump has said that he would be removing some whiskey tariffs following a visit from King Charles. So that's a big win for the Scottish whiskey industry. You know, in twenty twenty five Scotland sent almost one billion dollars of Scotch to the US, so it's a really major market. And it also signals that Trump really does have a soft spot for the
royal family. This is of course coming at a very interesting sign for this so called special relationship between the US and the UK, given how much Trump has been a criticizing kised Armer over disagreements after the war in Iran, but then also the threat to take over Greenland. So we've got a special relationship now warming up once again, thanks in part to how much Trump loves the Royals
and King Charles. And that's great news for Diado and we're getting the results next week actually for that company, and it seems that it does need that booster. Has been dealing with a weak consumer confidence and people trading down to cheaper brands, so this removed of tariffs would be would be definitely a welcome relief.
You know what, it's none of these speeches actually from that state visit by King Charles and Queen Camilla to the us. That sticks in my mind's actually the fashion that they wore, the fact that they reflected that the King and Queen reflected the colors that the Trumps were wearing, or maybe they had agreed it together. So what you know, when Camilla was wearing dark series pink, you know, the first lady was wearing light ping and so on, I
thought that spoke even more. You know, it's often the royals have obviously focused on you know, those symbols much more than speeches often, but I thought that spoke volumes. Anyway, let's about that, and let's think about peers and traders giving Pierson a passing grade.
Yes, indeed to piers and provides things like virtual learning products and things like digital textbooks. And of course it was one of the companies that got caught in that software sellar from earlier this year. But as we've actually seen throughout this earning season, those software companies are actually
doing better than expected. So we saw sap Doso Systems, cap Gemini, all of those companies that seen that she has really hurt by those fears around AI disruption, all of them had quite resilient earnings, stronger sales than expected. A brighter outlook than expected for a lot of them as well. In Pearson is following in the same trajectory,
had strong sales confirmed its outlook. So there's what those companies have been saying since the beginning of the sell off was that they were going to be a winners, not AI losers. But there was real reluctance from investors to believe them. But now maybe after this earning season, you know, some of those fears would have maybe eased a little bit, and so we are seeing Pearson shares up quite strongly this morning.
The Stock Mover's 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.