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.
Now let's look at some of the stocks on the move today here in UP I'm Caroline Hepka alongside Jamana Bassecci and we're joined by Bloomberg with Portocloi Malay, Good morning Moni. So let's talk about the high street retailer Next and what they see is happening with the UK consumer. Obviously it's led by a very well known business figure in the UK, that's Lord Wolfson.
Yeah, absolutely, so quite a bad day for Next today and of course at that cynic by extension band news for that UK retail sector are given the status of next as kind of that bell weather for the UK economy. So, as you mentioned, the CEO said that there was the economy, the UK economy was struggling and that was dragging down sales and that sales in the second half of the
year would be lower than the first half. He said that in particular, additional business taxes that came through in April of course really her employment and that in turn is hurting consumer spending. He also noted that employment was facing an additional challenge, which was displacement through mechanization and AI. There's a couple of other reasons for the fact that the sales will be lower in the second half. There's some positive factors that happen in the first half that
won't be here again for the second half. Good weather for example, which in London now it's full autumn mode I think, and then also a cyber attack that her mns which really benefited next but obviously now that's not gone. But the real thing that is dragging down those sales will be that struggling UK economy, so we'll be keeping an eye on that for that wider retail sector as well.
Yeah, it does feel very automical, doesn't the first lady arriving in full length of Burbury trench coach. Let's switch over and talk about a finish firm cone. I believe that's the way it's pronounced possible and a in that s faith.
Yeah, I do believe it's has pronounced though I don't know, so I'm just going to that's the way I've been pronouncing it, so hopefully that's the right way. So there's some m and A action in that elevator market. So Conne in Finland is said to be considering a bit for its rival TK Elevator, and and Liz said that this could potentially reshape that global elevator market and for Conne it could boost growth and boost margins as well. It's not the first time that Connor has made an
approach to TK Elevator. It's with CVC Capital Partners. They approached the firm back in twenty twenty, but then they eventually dropped out. Now the reason why they're coming back again is because the private equity owners of t K Elevator are preparing for a potential ip of the company, so that's now kind of renewed Connor's interests. There are some potential risks with a deal like that, and including antitrust scrutiny, so Connor would probably need to have a
partner to avoid any anti trust issues. But the fact that the shares up this morning shows that investors are quite keen on a potential deal like this.
And just lastly, Continental a big slump for their stock price.
Why yeah, so Continental is content. How's first day of trading after the spinoff of its Omovio business, which is the parts supplier business, so it sells parts auto parts like sensors and brake systems, and it was spinned off today on the Frankfurt Stock Exchange. As expected, with the spin off like this, the shares do drop massively. Now the market will really start focusing on what the opportunities and the challenges are for those two separate companies. So
for Amovia, the challenge now is rising competition. It's also rising costs. Car makers are increasingly bringing those capabilities those parts in house, and then technology firms are also moving into that territory that was usually reserved for those traditional
parts makers, so it's facing that competition. And for Continental it's now focusing on being a tires only business, which of course allows it to focus on what it does best, but it also makes it dependent on how well the cor sector is doing.
Really the Stockmover'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,