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BMW Stalls, Hapag-Lloyd Up, AO World Down
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- BMW shares fall as much as 12% to their lowest since November 2020 after the German carmaker slashed its profitability forecast and ramped up its cost-cutting program, flagging worsening demand in China and negative sentiment from the war in the Middle East.
- Hapag-Lloyd shares rise as much as 6.1%, before paring the move, following a Manager Magazin report that Mediterranean Shipping Company owner Gianluigi Aponte has enquired with shareholders in the German container shipper about buying a stake.
- AO World Plc is replacing UK call center employees with recruits based in South Africa, as the online household goods retailer hit out at higher taxes and other costs on businesses imposed by the British government.
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