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Let's take a look at some stocks on the move today in Europe. I'm Rachel Levens with Caroline Hekka here in London. We're joined by Bloomberg reporter Chloe Malay. Chloe, good to have you here. Let's kick off with SAP, talk us through the moves that we're seeing that.
Yeah, it's very interesting from SAP today. This is of course not a visual medium, so I can't show the to day share price chat, but it is a very interesting chart because we essentially saw a lot of weakness going into the results last night, partly because we had Service Now, which is another software company but in the US,
coming out with very disappointing results. So the mood going into the SAP report last night was, you know, based on fears that this is a sector that's already facing all of that AI disruption and now facing the impact of the Iron War. But then very surprisingly we actually saw very strong numbers from SAP, and so that's led
to a massive rebound in the shares this morning. So the strategy for the company has been to convince customers that new AI services within SAP's products are worth paying for, and today's results seem to confirm that customers are willing to do so, and so analysts have said that the
results really came as a relief. This actually echoes a little bit of what happened with Declo Systems yesterday as well, another software company that had been hit really badly during the software sell off, of pessimism going into the results and then metrics come in in you know, in line or above expectations. So perhaps this shows that the software sector is okay, at least for now.
Okay, So some relief on SAP switching to Volvo the truck maker, not the car maker. They've raised their market forecast. How do investors see that?
Yeah, it seems that perhaps the worst is over for that truck market, that truck sector. So, as you said, just raise this outlook for the European truck market. And that is after a very good first quarter for orders, and that was both in Europe but also in the America. So this signals perhaps some early recovery in that track industry after a really prolonged slump in demand and that slowed down that we had seen as really due to tariff costs, of course, but then also a lack of
clarity on regulation as well. But now we have got a new tariff environment that is known, that is fairly stable, and there's also clarity on the emissions regulation from the US Environmental Protection Agency, so a lot of demand has been unlocked as a result of that greater clarity. We've also seen markets, construction markets and commercial vehicle markets rebound recently. So all of that is really benefiting Volvo and its trucks, and we've seen shares for Volvo and also for its
closest rival, Diamond Truck, actually move higher this morning. So good news all around for the industry.
Very interesting.
So finally electroluxe and we're seeing a bit of a slide. Tell us more about what's going on there.
Yeah, a massive, yeah, a massive job. Shares drop twenty five percent this morning for Electrolux. It seems that people aren't buying many home appliances, and that's very bad news for Electrolux. It reported much weaker than expected results for the first quarter, and that was due in particular to weakness in North America. It also announced a big capital rais and also announced a new joint venture with one
of its piers called Midair. So a lot of news to digest and so, and it's just saying that the structure of the joint venture is quite complex, it could create some governance problems down the line, that it kind of complicates the structure of the group and might also
bring some competition risk. And then they also noted that this weakness in North America which I've mentioned, and then also the rights issue will definitely be weighing on those shares at least in the short term, although perhaps that could be laying the groundwork for some improvement a little bit laid down the line.
But in the meantime, we are seeing a lot, a lot of weakness for electrial LUTs.
This morning the Stock Mover's Report from Bloomdio. 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.