WEBVTT - BAE Systems Up, SMG Rallies, Croda's US Investors 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's have a look at some stocks on the move

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<v Speaker 3>today here in Europe. I'm Caroline Hepko alongside Guy Johnson,

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<v Speaker 3>and we're joined by Bloomberg reporter Louise Moon. Good morning.

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<v Speaker 3>Defense stocks are moving on the back of a note

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<v Speaker 3>from Goldman Sachs.

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<v Speaker 1>Yes, so there's a note overnight from Goldman and essentially

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<v Speaker 1>reinstating a buy across a bunch of defense companies across Europe.

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<v Speaker 1>So the likes of bae Ry Mattau, Mulrow's Industries, Rolls

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<v Speaker 1>Royce and a bunch of others, essentially saying that they

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<v Speaker 1>think the sector has transformed, this, in their words, from

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<v Speaker 1>a sluggish and undervalued sector to one that's the central

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<v Speaker 1>focus and one of Europe's fastest growing sectors. So they

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<v Speaker 1>noticed in particular new technology AI nation states driving spending

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<v Speaker 1>so in particular Germany, and the fact that defense stocks

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<v Speaker 1>are appearing in a lot more sustainability funds. So they

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<v Speaker 1>said that even though valuations already on record high, you know,

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<v Speaker 1>we've seen these companies, these companies stocks soaring over the

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<v Speaker 1>past year and longer, so is the growth outlooks, so

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<v Speaker 1>they're essentially expecting that to continue growing. So yeah, they

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<v Speaker 1>stoped arising on the news, not huge gains, but strongest

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<v Speaker 1>gains by Rolls Royce and then they did they It

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<v Speaker 1>is worth noting they did also reinstate a sell on

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<v Speaker 1>Dasalt Aviation, noting that they kind of need you need

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<v Speaker 1>a more nuanced approach to stock selection. So it was

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<v Speaker 1>a really interesting note from them. It kind of reinstates

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<v Speaker 1>what's what's being thought about for the defense sector anyway.

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<v Speaker 1>But yeah, a strong note from them on the back

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<v Speaker 1>of that.

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<v Speaker 4>It's intually there's a big tussle at the moment that's

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<v Speaker 4>so trying to take control of the next generation fighter

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<v Speaker 4>that France and Germany are producing together shooting. The air

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<v Speaker 4>bus is also tacking higher today on the back of

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<v Speaker 4>news that could later come from this Trump sheet call

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<v Speaker 4>that actually could see some Boeing orders.

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<v Speaker 1>We've got an IPO in Zurich, indeed, Swiss Marketplace Group,

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<v Speaker 1>which as the name's Jess is an online marketplace backed

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<v Speaker 1>by General Atlantic. They had their debut today doing well,

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<v Speaker 1>so trading above the offer price, about nine percent higher

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<v Speaker 1>than off the price, which was forty six Swiss francs

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<v Speaker 1>a share, which is interesting and good news for the

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<v Speaker 1>company itself, but it indicates kind of stronger demand. It's

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<v Speaker 1>the first in a series of IPOs that are expected

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<v Speaker 1>across Europe. We've got Varija which is also planning listing

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<v Speaker 1>in Switzerland and that will be if it all comes

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<v Speaker 1>to frush in that be yuro it's largest listing in

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<v Speaker 1>three years. So this is the first in a series

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<v Speaker 1>and it's indicating strong demand. And yeah, trading high this morning,

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<v Speaker 1>so a good debut from them.

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<v Speaker 3>Okay, so that's an ipo. What about the chemicals company Croda.

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<v Speaker 1>A really interesting one. So yesterday, about an hour or

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<v Speaker 1>so before market close or late afternoon, there was a

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<v Speaker 1>disclosure that an American investment management company had an over

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<v Speaker 1>five percent stake in Croda, which is the chemical supplier's

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<v Speaker 1>blue chip in London. The stock rose on that most

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<v Speaker 1>in nearly five months, and it's continuing those gains today.

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<v Speaker 1>And the reason it seems the reason that this seems

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<v Speaker 1>to be is because the investment management company that took

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<v Speaker 1>the stake, they also just in twenty twenty two, they

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<v Speaker 1>disclosed a stake in Johnson Mattie, which is in the

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<v Speaker 1>same industry, and they later pushed Johnson Mattie to do

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<v Speaker 1>a strategic review, and then of course it was sold

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<v Speaker 1>later on to Honeywell. So potentially a bit of speculation

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<v Speaker 1>that they could force through similar change. And if you

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<v Speaker 1>look back at quda's share price, if you take away

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<v Speaker 1>yesterday's gains, they've lost almost forty percent so far year

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<v Speaker 1>to date taking away the gains yesterday, so potentially not

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<v Speaker 1>surprising if they do push for a review, So we'll

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<v Speaker 1>be keeping an eye on that one.

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<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

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