Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's have a look at some stocks on the move
Speaker 3: today here in Europe. I'm Caroline Hepko alongside Guy Johnson,
Speaker 3: and we're joined by Bloomberg reporter Louise Moon. Good morning.
Speaker 3: Defense stocks are moving on the back of a note
Speaker 3: from Goldman Sachs.
Speaker 1: Yes, so there's a note overnight from Goldman and essentially
Speaker 1: reinstating a buy across a bunch of defense companies across Europe.
Speaker 1: So the likes of bae Ry Mattau, Mulrow's Industries, Rolls
Speaker 1: Royce and a bunch of others, essentially saying that they
Speaker 1: think the sector has transformed, this, in their words, from
Speaker 1: a sluggish and undervalued sector to one that's the central
Speaker 1: focus and one of Europe's fastest growing sectors. So they
Speaker 1: noticed in particular new technology AI nation states driving spending
Speaker 1: so in particular Germany, and the fact that defense stocks
Speaker 1: are appearing in a lot more sustainability funds. So they
Speaker 1: said that even though valuations already on record high, you know,
Speaker 1: we've seen these companies, these companies stocks soaring over the
Speaker 1: past year and longer, so is the growth outlooks, so
Speaker 1: they're essentially expecting that to continue growing. So yeah, they
Speaker 1: stoped arising on the news, not huge gains, but strongest
Speaker 1: gains by Rolls Royce and then they did they It
Speaker 1: is worth noting they did also reinstate a sell on
Speaker 1: Dasalt Aviation, noting that they kind of need you need
Speaker 1: a more nuanced approach to stock selection. So it was
Speaker 1: a really interesting note from them. It kind of reinstates
Speaker 1: what's what's being thought about for the defense sector anyway.
Speaker 1: But yeah, a strong note from them on the back
Speaker 1: of that.
Speaker 4: It's intually there's a big tussle at the moment that's
Speaker 4: so trying to take control of the next generation fighter
Speaker 4: that France and Germany are producing together shooting. The air
Speaker 4: bus is also tacking higher today on the back of
Speaker 4: news that could later come from this Trump sheet call
Speaker 4: that actually could see some Boeing orders.
Speaker 1: We've got an IPO in Zurich, indeed, Swiss Marketplace Group,
Speaker 1: which as the name's Jess is an online marketplace backed
Speaker 1: by General Atlantic. They had their debut today doing well,
Speaker 1: so trading above the offer price, about nine percent higher
Speaker 1: than off the price, which was forty six Swiss francs
Speaker 1: a share, which is interesting and good news for the
Speaker 1: company itself, but it indicates kind of stronger demand. It's
Speaker 1: the first in a series of IPOs that are expected
Speaker 1: across Europe. We've got Varija which is also planning listing
Speaker 1: in Switzerland and that will be if it all comes
Speaker 1: to frush in that be yuro it's largest listing in
Speaker 1: three years. So this is the first in a series
Speaker 1: and it's indicating strong demand. And yeah, trading high this morning,
Speaker 1: so a good debut from them.
Speaker 3: Okay, so that's an ipo. What about the chemicals company Croda.
Speaker 1: A really interesting one. So yesterday, about an hour or
Speaker 1: so before market close or late afternoon, there was a
Speaker 1: disclosure that an American investment management company had an over
Speaker 1: five percent stake in Croda, which is the chemical supplier's
Speaker 1: blue chip in London. The stock rose on that most
Speaker 1: in nearly five months, and it's continuing those gains today.
Speaker 1: And the reason it seems the reason that this seems
Speaker 1: to be is because the investment management company that took
Speaker 1: the stake, they also just in twenty twenty two, they
Speaker 1: disclosed a stake in Johnson Mattie, which is in the
Speaker 1: same industry, and they later pushed Johnson Mattie to do
Speaker 1: a strategic review, and then of course it was sold
Speaker 1: later on to Honeywell. So potentially a bit of speculation
Speaker 1: that they could force through similar change. And if you
Speaker 1: look back at quda's share price, if you take away
Speaker 1: yesterday's gains, they've lost almost forty percent so far year
Speaker 1: to date taking away the gains yesterday, so potentially not
Speaker 1: surprising if they do push for a review, So we'll
Speaker 1: be keeping an eye on that one.
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