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 have a look at some of the stocks

on the move today here in Europe. I'm

Caroline Hepka and we're joined by

Bloomberg reporter Chloe Malay. Good

morning, Chloe. So, let's start with

Elmes. Not immune. How are investors

thinking about the latest results? Yeah,

it's a very tough morning for luxury as

a whole. So, we had MS which is

traditionally quite quite resilient

luxury company that has been really able

to withstand uh some other downturns in

the industry. Uh today reporting results

that were quite disappointing and we

also had caring last night with the

sales at Gucci, excuse me, falling by

more than expected and then the day

before was LVMH of course with which

also did worse than anticipated. So the

common common theme for all three

companies is that they are really

feeling the impact of the conflict in

the Middle East on those sales. And so

that's both because there was much

weaker demand in the shopping hubs like

Dubai for example, but also because the

impact has reverberated across other

markets and really hurting consumer

confidence and travel globally as well.

And so for example for Ames it said that

stores in France uh were hit by much

lower tourism spend by Middle Eastern

shoppers for example. So for a luxury

sector as a whole, this is really kind

of doing hopes of a rebound after some

signs of the previous earning season

that things were actually getting a

little bit better. So this is definitely

a big setback and it seems that it is

impacting everyone including Ames which

some had expected to be a little bit

more resilient to this. Yes, Hermes is

share price falling the most on record.

But you're right, it's got a read across

because curring, Burberry, Rishmore, uh

they're all in those worst performing uh

10 stocks. more CLA as well today. So

it's really quite broad across that

luxury sector. Now news of some

turnaround signs from Stalantis. Uh are

investors optimistic? Yeah, it seems

like they are. So Stellantis reported

quite a big rise in shipments for the

first quarter and that was particularly

led by North America. So that's being

taken as a sign that the ongoing

turnaround is taking shape. So the CEO

Antonio Flossa took over in June and

he's launched quite wide ranging efforts

to kind of get Stalantis back on track.

He's rolled back on uh electric vehicle

plans. He's worked on more hybrid

models. Um and then he's also cut prices

to regain some market share. And another

big part of the strategy was also to

refocus on the US market, getting

Americans back in jeeps for example. And

so that seems to be working. and

Stellantis grew actually in all regions

including in Europe. So overall it's a

very positive picture and that's

especially in the context of the company

earlier this year in February shocking

markets with surprise write downs and

charges of€22 billion euros. Um a lot of

that was linked to unwinding the EV

strategy that was put in place by the

previous CEO and that triggered a really

massive slump in the shares back in

February. So Santos has much further to

go now to kind of erase those losses,

but uh now it seems like maybe the worst

is behind it and it's quite encouraging

for investors.

>> Okay, that's uh interesting. So what

about ASML? Obviously the biggest

company in Europe, very important

earnings out today.

>> Yeah, so it raised its fullear sales

guidance, but at the same time it also

provided a second quarter sales forecast

that was a little lighter than expected.

Overall, the outlook does seem

definitely quite strong. The CEO said

that growth in the semiconductor

industry was continuing to solidify that

customers were accelerating those

investments in AI, but shares have not

reacted the way you'd expect with a

guidance raise. So, they were down

slightly at the open, fluctuating within

quite a narrow range since then, and

that is likely because that guidance

raise was actually expected by

investors. And the positive outlook is

already reflected in a stock price that

has jumped almost 40% in uh since the

start of the year. Uh but overall though

there is clearly some strong confidence.

The AI boost is looking like it's there

to stay and the focus is now really

shifting to 2027 and whether ASML is

able to really sustain that momentum.

>> 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.com, and on Apple

CarPlay and Android Auto with the

Bloomberg Business App.