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Now, let's take a look at some of the stocks on the move today in Europe. I'm Lizzie Burden with Stephen Carroll and were joined by Bloomberg's Breaking News editor Louise Moon. Louise, let's start with Standard Chartered. Promising light at the end of the tunnel.
Indeed, yeah, it's not necessarily benefiting their share price too much today, kind of fluctuating up and down a bit in London this morning and rising over in Hong Kong. Obviously sunder Charters is listed in both. This was the fourth quarter results, so they were weaker than expected, so that side not positive, but as you say, promising things are more positive in the future. They gave quite upbeat
guidance overall. Bloomberg Intelligence says that underscores a solid profitability momentum for them, and they also issued a one point five billion dollar buy back, so two sets of quite good news essentially kind of painting the picture of positivity going forward. That's obviously after their CFO quite abruptly left earlier this month. He was seen as the inside front runner to replace the CEO. Bill Winter's. Bill Winter's obviously
been there a long term. He's the longest serving boss of a UK bank and the and he continues to stay exactly so the CFO left at the time on the day the shears tumbled quite a bit, kind of reversed or slightly unraveled huge gains that Standard Chartered had last year. So this update today was kind of seen as a bit of a staying the course Standard Chartered, you know, positivity going forward. Bill Winter saw the Bloomberg TV saying, you know, they're not missing a beat.
It's full speed ahead.
They're investing substantially, they're going to set out in new strata in May.
He wants to see it through. As you say, he's staying on.
So, yeah, it seems as though, you know, positivity, but Vester's potentially need.
A bit more convincing here in London as it stands.
Yeah, indeed, show so nine tens of one percent currently, let's go to Spain next and Telefanaica some strengthen key markets, helping to offset weakness that they've seen elsewhere.
Yeah, indeed, they also had their fourth quarter earnings essentially kind of came in line as expected, met analyst estimates. As you say, so there's growth in Spain and Brazil and that helped offset weakness in other European markets, so as I say, it came kind of in line. They also said that free cash flower this year will be about three billion euros, also kind of in line with expectations. Shares rose very slightly, but you know, it kind of
indicates our points to a bit of stability. Having if you look back at their stock, they've fallen about fifteen percent since they issued a new strategic plan in November last year, so it's a bit of even though it's in line, it's showing a bit of stability and shares rising just slightly on the back of that in morning trading.
And we've seen some weakness for Unite, an unlikely victim of the UK's migration debate across This isn't the Union, it's the student accommodation group.
Yeah, so they have accommodation across the UK for universities predominantly. So overall demand fell two kind of key headwinds being one, as you say, international demand and two overbuilding in some areas.
So it's a bit of a mixed set of results.
So for international applications, they continued assentiity to prove a weak spot, so they did grow, but not that well. The strength there was China. China was a bit of an exception. I think it was bookings for Chinese students rose about ten percent to last year. And then aside from that, there's some other interesting commentary. They've seen a small uptick and students planning to live at home, which
is quite interesting. And then in terms of the positive end of it is that demand was strongest at higher quality universities, so UNITE are kind of shifting their portfolio to reflect that sty're focusing more on those higher end universe. I'd say it was slightly mixed out of results with all those different sectors bringing some some interesting kind of reflections on what's going on in the in the university world. But shares slumped. Barkley saying that NITTOM outlook is challenging.
JP Morgan saying that the results confirm expectations of a bit of a bumpy ride. Are the saying, you know, it's enough to maintain quite a cautious stance, So it just shows the situation in the university at.
The moment at how that's reflecting through accommodation.
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