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Let's take a look at some stocks on the move today in Europe. I'm James Wilcock with Caroline Hepka. We're joined by Bloomberg reporter Claim Chloe. Let's start with Orlando. Let's see quite the drop this morning. What is prompting that move?
Yeah, well, it's all about Germany's financial regulator opening an investigation into Entry Zeland into the twenty twenty five financial report. And so the robe is around suspected violations of accounting rules that are related to the acquisition of About You, which is Xander's rival online retailer that I had bought
for one point three billion dollars recently. And so the regulator is essentially saying that there was information connected with the acquisition of about that may have been incorrectly omitted from the notes to the financial statements. And so obviously that's the kind of thing that really worries investors, and we've seen shares really plunging, as you say, really taking
that drop this morning. Solander's defended itself, saying that this was a purely formal and materially insignificant aspect of the notes to the financial statements and said that there's all the relevant information related to that deal, so you know, the companies involved, the transaction, trust structure, the purchase price, that all of that information was already fully publicly accessible and so now we're just waiting to see what happens.
But in the meantime, this this is really taking a hit on Silando's shares this morning.
Okay, so Zelando is one, Pandora is another. In the fashion retail space, also moving.
Why Yeah, it just got upgraded to a by rating by Bank of America and the analyst said that the company had a very clear catalyst path head and it said that also it expects then, I said that they expect a much better than expected sales performance in the second quarter, and that is because there's a few of the pressures that had existed for Pandora potentially lifting. So one of the big problems was a very very high
silver prices. Of course, Pandora makes jewelry and needs that silver, and so it meant that it was trying to really diversify the materials that it makes is jewelry with But now we've got silver down actually quite significantly from the peak that I've reached in January, so that's providing a little bit of relief. And then also Pandora might be benefiting from a US tarriff refunds if that does happen, because they've applied for those, so that could potentially lift
that performance for the second quarter. If we look at the share price for Pandora, we can see really a slumping throughout the start of this year and then slowly recovering now, so it seems that potentially it is getting back on track. And that's what we got that Bank of America upgrade.
Now and WISE is seeing a little bump this morning. What has got into investors' heads.
Yeah, so it got a new and announced a new buyback program and also results that were in line with expectations. So and As has said that this showed kind of good momentum in the company, good customer growth, and of course the shareholder return part of it is always going to be seen as a positive, always going to be welcomed by shareholders. It's a bit of a relief for Wise because at the beginning of the month, shares took
a huge hit because of a money laundering investigation. So there was a report that some of the wise accounts had been used to launder the proceeds of fraud, corruption, drug trafficking. And this is the transactions are worth more than five hundred million pounds and so why I said that it was working with prosecutors in Belgium around this investigation. But shares have really taken a plunge of the back of that. So having those pretty good results and that
new buyback has been helpful for the company. This morning provided a little bit of relief after the huge plunge on June first, actually was at the beginning of the month.
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