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 Europe. I'm Lizzie Burton alongside Stephen Carroll and were joined in the studio by Bloomberg reporter Chloe Mela. Chloe, I want to start with Porsche speeding ahead from the other motto makers this morning.
Yeah, absolutely so. Porsche actually on Friday evening reported its first quarterly loss since its IPO and that it was due to a three billion euro hit this year from US tariffs and its decision to scale back its electric ambition. We remember that last month they did cut its guidance,
which was the fourth time this year. And obviously that quarterly loss of almost one billion euros does look quite bad on the surface, but you said that it is indeed driving ahead, speeding ahead, and the shews are doing quite well this morning, because if we dig a little deeper, they are actually reasons to be optimistic in this statement
that we had on Friday. So some analyst noted that the loss wasn't as bad as expected, and the margin of almost ten percent looked quite resilient, and that's really boosting sentiment because there's now expectations that are returned to form could be under way and that better days could be coming as soon as at twenty twenty six. There's still a lot of challenges, of course, the moon for
luxury electric vehicles is still very weak. There's obviously supply chain disruptions happening at the moment in that auto market. But the hope for Porsche is that cost cuts and drastic changes the lineup of its models with the real emphasis on SUVs will kind of help it come out of this quite difficult period.
Okay, So that's what's going on with Porsche this morning. To glen Core next, and interesting to think about how the moves that we've seen in summer metal prices are effects on the share price today.
Yeah, So glen Core and other big mining companies were up this morning after copper advanced towards in all time high, which was because of that hope that the US and China are making good progress on a deal. So US and Chinese trade negotiators wrapped up the talks on Sunday that appears to be teeing up a deal for Trump and using pink to be finalizing later this week, with the threat of one hundred percent tarists from Trump definitely
off the table. Copper's actually been pretty strong throughout this year, but that has been actually mostly due to a series of mind disruptions in country that produce a lot of copper, and then also the decline of the dollar, which made
commodities priced in dollars much more attractive. But this particular rise that we saw today rests really on this broader optimism that global economic growth will be stronger if China and the US find this common ground, So that is really driving those mining stocks higher this morning.
And finally Cory some surprise M and A for sid Bank. How's the market reacting?
Yeah, so Danish bank Said bank has agreed to buy two rivals to combine into one bigger bank, with the new entity becoming, among well being one of Denmark's five largest bank. So we've seen the shares the said bank rise quite a lot this morning on news of that deal, which was actually really unexpected. So an economist at nod Net in Denmark called the acquisition a genuine surprise and said that it was it came completely out of the blue, but it seems to be welcomed quite warmly by the market.
This comes as we've seen quite a lot of consolidation in that nording Nordic banking sector. We saw a DNB recently take over Carnegie, and it's also, of course been quite a lot of consolidation at least a lot at least of a lot of talk or attempts of consolidation in the European banking sector more generally, some of the big proposals have failed, of course, we know about BBV in Sabadel, UniCredit and Commerce Bank is stalled at the moment, so perhaps those smaller deals maybe the way forward.
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 MHM.