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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 Hetget and I'm joined by Bloomberg reporter Clone Malay. Good morning. So it jump for Rieschmah shares signs of a broader luxury rebound perhaps, But Rieschmahl did incredibly well in that festive period.
Yeah, it really did.
And I don't want to speak too soon, but it could be a really good quarter for their luxury sector. But at least, as you said, it's been a really good quarter for Eschmore and reported sales. Wearehead of estimates, and that was despite expectations being actually already really high
and the comparatives being also quite tough. And this was thanks in particular to the popularity of Cartiage jewelry, which is seeing a big boost at the moment from the likes of Swift and Timothy shallow May wearing those bracelets and watches and really boosting that popularity. And we saw sales of Cartier really strong over that Christmas season, and those very positive results at Richmond also drove the rest
of their luxury sector higher. This morning, we saw Burbery moving higher LVMH as well, carrying all of those names, because this is seen as a sign that there is maybe a recovery happening here, and we saw already some early signs of that at the previous earning season. If we can remember that far back and LVMH and Caring was saying at the time that demand was rebounding in the US and in China, and a continuation of that trend for this season would signore that the sector has
actually weathered the worst of that downturn. It is worth noting that Rishmore is not necessarily representative of the entire sector. It sells primarily jewelry, and that is often viewed as a better kind of store of valued and leather goods, so it has been doing better more generally. It seems that this is still quite encouraging for reach More and the sector as a whole.
We have to keep across the fashionistas, don't we. Chalamay has been seen wearing a carte part the necklace, so that's the kind of hot thing and also of course he won at the Golden Globes. So I just want to in case you're not across, I'm sure you are. I think I was more addressing that maybe to listeners out there. Anyway, tech significantly for ASML, and this perhaps powered by TSMC. What's behind the gains?
Yeah, ASML gained a lot this morning, and the market value reached more than five hundred billion dollars, and that's
all thanks to the very upbeat outlook from TSMC. As you mentioned, so, TSMC is of course a bell weather for the semiconductor industry and therefore this artificial intelligence boom, and it reported better than expected profit and earmarked more than expected as well in capital spending for twenty six, So that signals really strong AI demand going into this year and also shows that TSMC is very confident that the AI boom will continue in twenty twenty six, and
that is despite those concerns that are still relevant around the sustainability of spending on data centers. And these results have led as chip makers and chip making equipment stocks much higher this morning in Europe, and in particular, ASML is doing well because it is a big supplier to TSMC, so it's been a very good day to day for that tech sector in Europe for sure.
Yeah, maybe clean sweep. Then this morning a Sweat Bank investors also thinking about this lender and we're seeing gains.
Why.
Yeah, So the US Department of Justice closed a money laundering investigation into Sweat Bank and they didn't take any enforcement action. So this investigation had to do with Sweatbank's handling of anti money laundering controls in its Baltic operations. And this decision from the DJ brings a seven year
probe to closer to an end. And it's a really positive outcome for Sweatbank, of course, because it's now facing no penalties and that might mean more excess capital that it can return to shareholders, and of course we know how much investors like getting their shareholder returns, and that explains why the stock moves so strongly today, all the
way to record high. Actually, there is another investigation ongoing from the New York Department of Financial Services, and so Sweat Bank might choose to kind of hold back on that capital distribution until that is done. But regardless, this is a definite positive for the bank and allows it to kind of move on from this long.
Pro 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.