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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 Europe. I'm Caroline Hedget and I'm joined Bublinberg reported claim Malay, good morning, Clok. Let's think of individual shares and particularly reach more the luxury group their sales and a big bounce for their stock price.
Yeah, absolutely so, sales be estimates across all divisions for Richmond. That was thanks to really strong demand in the US and China in particular, So that echoes what we heard from Barbury just yesterday, and then some of the other luxury names as well throughout their earning season have mentioned this rebound in the Chinese market. So this confirms the narrative that has been building of recovery underway in the luxury sector, and Richmond seems to be a particularly strong
name within that industry. So a lot of that has with its jewelry segment, which includes a Cartier and Van Cleef and that is doing particularly well. Jefferies, analyst said that this kind of certifices Richmore as the fastest growing in luxury. Another positive thing for that company is also that there is progress on a teriff deal between the
US and Switzerland. So the chairman of Britishmore said this morning that a deal should happen in the next few days, and so that will provide that additional boost for that company. The shares in Nishmore had already held up pretty well regardless of that thirty nine percent rate that was mentioned back in August, so who knows really how far they could go if that challenge is removed as well.
Okay, very interesting on Rischmaar, the high end luxury group and how well it's doing. Semen's Energy now, which has raised its outlook due to strong demand for gas turbines but also data center equipment.
Yes, the Semen's Energy is a really big beneficiary of this artificial intelligence data center a buildout, so it provides some of the equipment for that. So that includes are transformers and circuit breakers that are used in data centers, and then on the gas turbine side of things, it's also really benefiting from this rise in global energy demand and that has boosted that demand for those guess turbines Seamen's Energy also said that the restructuring at the wind
turbine unit was progressing quite well. So it's still unprofitable, but it expects now their division to potentially break even in twenty twenty six. The challenges there include some of the costs are associated with the ramp up in offshore wind, low margin contracts in the onshore wind market, and then US Tariff's also weighing there. So that is a little bit of a weaker division, but seems to be on
the way on the way to recovery. And all of that means that it has been able to high quite substantially this medium term outlook and that has really boosted the shares this morning. It seems that all of this air optimism, this stronger energy demand is really is really creating the momentum for Semen's Energy.
Hmm okay. In terms of Lloyd's Banking group that also seems to be having a difficult moment today on the market. Is that anything to do with the UK budget.
Yes, it does so. We had seen we have seen this morning a little bit of a sell off across those UK banks, across those UK stocks in general, but UK banks in particular, and Lloyd's was one of them and one of the worst affected. So a lot of that has to do with with that possible well that you've done from Rachel Reeves on the budget measures and had those dropped plans to raise income texts, which that prompted quite a sharp sell off in guilds and then that weakness in those UK banks.
So she made that.
Decision because of because of potentially some internal pressure within the party. So officials had worn that breaking Labour's election promise of not raising income text could prompt those leadership challenges, and we heard earlier this week about those potential leadership threads faced by kir Starmer, so that be part of the reason why she decided not to go ahead with it. But now some investors are concerned about how she is
going to make up with that revenue shortfall. This obviously also comes just a couple of weeks before the budget is actually announced, so that creates quite a lot of uncertainty, and we saw that reflected in some weakness for those UK banks, and particularly Lloyd's given how domestically exposed it is.
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