EssilorLuxottica Up, Iberdrola Gains, Michelin Falls

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0:04 Podcasts. Radio. News. The Stock Movers Report. Your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data.

0:16 Let's look at some of the stocks individually on the move today in Europe. I'm Caroline Hepka with Guy Johnson. We're joined by Bloomberg's breaking news editor, Louise Moon. Let's start with Essilor Luxottica. Investors eyeing gains. Why are they doing so well? So, they've had their third quarter results.

0:31 That came after the market closed yesterday, coming in ahead of expectations. So, revenue rose over 7% and really powered by their traditional eyewear business. So, obviously, their core of lenses and frames, that saw a 6% growth there. So, analysts are saying this is showing resilience. It's giving some reassurance about the quality of their core and their core revenue base. Essentially, their shares have lost, as of close yesterday, they had lost Over 40%.

0:59 There's been a bit of– some question.

1:03 Marks over their move into the kind of the smart glass space. So, AI glasses, their tie-up with Meta on this and questions over– it's been a bit of a sore point, essentially.

1:18 So, dragging shares lower.

1:19 So, investors are refocusing on their core and how well that's performing.

1:23 So, these results are a boon for that.

1:26 So, shares rose as much as about 14% in morning trading.

1:29 Yeah, there's a bit of concern from advocacy groups or maybe European regulators also on those smart glasses.

1:36 Yeah, very interesting. Okay, next. Ibadrola, next.

1:39 Evudrella raised their profit forecast for the year. They had a very strong performance, particularly from their power goods space. So, this is their second upgrade for 2026. And they said that Spain, UK, Brazil, all very strong markets. They've been pivoting towards power grids. That's the most that they've spent in their latest kind of multi-year plan has been on power grids. The rationale being that this boom in electrification, renewables, data center growth, they're going to benefit from that.

2:05 Shares, however, quite flat. Overall, their third quarter numbers came in large as expected.

2:10 So, potentially, for that and potentially, you know, more to be done as they move ahead with this turnaround plan.

2:16 Okay.

2:16 Michelin, the tire maker, lastly, getting a grip on their revenues. I mean, yeah, we continue this string of puns. I don't know why, but we are.

2:25 So, go on. Yeah, they've reiterated their full-year revenue.

2:28 This is after or as part of when they issued their third quarter results. In terms of those results, revenue actually missed expectations, volumes coming in quite weak.

2:39 So, shares down over 6%.

2:41 Essentially, they're going to have to rely on their fourth quarter and volumes in their fourth quarter to hit those four-year targets. And Bloomberg Intelligence saying that that rebound in volumes is quite unlikely.

2:52 There's a lot of competition from cheaper imports from Asia.

2:55 There's weak demand in some areas and that's outweighing stronger demand in other areas. So, it's these issues that the whole sector has been grappling with. So, shares down over about 6%.

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