Stock Movers BAE Systems Gains, Barclays Falls, Capgemini Down
Jan 12, 2026
In this engaging discussion, Chloe Millay, a Bloomberg reporter specializing in European markets, delves into the gains of BAE Systems amid rising tensions in Greenland, marking a record high for defense stocks. She also unpacks the fallout from Trump’s proposal to cap credit card interest rates, which sent Barclays tumbling. Additionally, Chloe shares insights on Morgan Stanley's downgrade of Capgemini, highlighting the shift toward software and the impending risks posed by AI disruptors in the IT services sector.
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Greenland Tensions Lift Defense Stocks
- Rising tensions over Greenland have boosted European defense stocks, led by countries planning military presence there.
- Chloe Millay says BAE Systems rallied as the UK is a key driver behind those Arctic security plans.
Trump's Credit-Rate Call Hits Banks
- President Trump called for a one-year 10% cap on credit card interest and warned lenders they'd violate the law if they don't comply.
- Chloe Millay notes Barclays fell due to its large U.S. card business and broader banks may also be affected.
Banks Argue Rate Caps Risk Credit Access
- Banks warn that sharply lower card rates could threaten profitability and push some consumers toward payday lenders.
- Chloe Millay explains banks fear losses because credit cards lack repossessable assets.