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 look at some of the stocks on the move today here in Europe. I'm Caroline Hepki with Lizzie Burton, and we're joined by Bluebergs Breaking news editor Louise Moon. Good morning. It's been a very dramatic start to the day for SAP after their results. How did the most valuable software company in Europe get to this point quite a serious decline in their share price?
Indeed, yeah, absolutely plunging in Frankfurt today, falling the most in over five years. That's after their fourth quarter results and essentially the results of spot concern over how much AI is going to disrupt the industry, disrupt the software industry. So, SAP's cloud backlog, which essentially reflects the sales over the next twelve months that will be booked, grew by sixteen percent. Now that's a level that their CEO has previously said
would be a disappointing level. They had been aiming for twenty six percent growth. So just in terms of the wilder context, So since for the past few years, since about twenty twenty, they've been moving to offer software subscriptions in the cloud. That's been very welcomed by investors. Their share prices has kind of propelled rallied on that. Now there are concerns over how much AI is going to impact that industry and disrupt it, and we're seeing that
in those results today. So as I say, shares really plunging in Frankfurt on the back of that. On the contrary, though, Minus hitting an all time high, think talk us.
Through the commodity related against Louise.
Indeed, Yeah, so European mining shares best performers on the stock six hundred today, That is after copper posted their biggest one day gain in years, hitting record, So it's above fourteen thousand dollars a ton. It's all of this
kind of metals mania that's going on. A wave in particular today, a wave of what's thought to be speculative trading in in China surging, resulting in that surgeon copper that happened essentially at a time of day when Chinese traders would dominate those flows, and they're piling into metals across the board. Copper as I say, being one of them, and they're piling into this kind of a wave of
momentum around metals, so propelling European mining shares. So if you look at the thirty hundred gainers, for example, the majority of them are mining companies. You've got riotinto Glencore, Anglo American, Antofagasta, all of them posting strong gains and really leading the index both in the UK and across Europe.
Okay, so that's for miners, but Acados shares not delivering this morning. What's behind their slide home? No?
I mean the latest setback for Acado is so their Canadian partner, which is their second largest partner, has decided to close one of its automated houses. So that's in Calgary. They are going to keep two other ones. They're keeping one in Toronto and they're keeping one in Montreal, and then another one planned for Vancouver is on pause. This is due they say, to slower than expected growth in for that one in Calgary. They'd entered an agreement with
a Cardo last year, sorry, in twenty twenty four. And as I say, they're they're the second biggest partner. It comes after their biggest partner in the US closed three warehouses late last year, and it's just being seen as
the latest setback. It's raising questions about a Cardo's prospect. Obviously, in the UK, Acado is mostly known for their delivery services, but they've kind of pitched themselves as being the tesla of groceries, so that and this is their very kind of expensive robot technology and these automated warehouses, and that's what they've pitched their future as being. But there's kind of increasing skepticism around this as these customers pull back and either pause or close or slow down in terms
of these automated warehouses. So it's looking increasingly challenging and shares are down on the back of this today, down down today, But then if you look further back, they're still their way. They had. They hit quite a quite a peak in twentye twenty one and still very much off.
The 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.