Speaker 1: Bloomberg Audio Studios, podcasts, radio.
Speaker 2: News, The Stock Movers Report, your roundup of companies making
Speaker 2: moves in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move
Speaker 3: today in Europe. I'm Stephen Carroll and I'm joined by
Speaker 3: Bloomberg's Breaking News editor Louise Know and Louise good morning.
Speaker 3: Let's start in Italy with Mediobanker shares rising this morning.
Speaker 1: Why that's after their board has essentially approved plans to delist,
Speaker 1: so they're going to d list the investment bank. That's
Speaker 1: after it was acquired last year for seventeen billionaires by
Speaker 1: montepascy so I created Italy's third last largest lender by assets.
Speaker 1: And now this is the next step, so it's being
Speaker 1: fully integrated, so both banks coming together. As you say,
Speaker 1: Media Banker shares rose. They are off about nine percent
Speaker 1: in Milan this morning. ANALYSSA A isentally saying, you know,
Speaker 1: this next step should help both of the banks maximize
Speaker 1: their potential to the focus now is how they're going
Speaker 1: to execute on that merger, how they're going to deliver
Speaker 1: on cost savings that were promised as part of that merger.
Speaker 1: So yeah, investors taking it well, as this next step
Speaker 1: happens to delist media banker.
Speaker 3: That's a media banker.
Speaker 2: Let's go to buyer.
Speaker 3: And next the German chemicals company is we're seeing their
Speaker 3: shares this morning lower after some news around settlements. This
Speaker 3: is to do with the lawsu itself roundup weed killer.
Speaker 1: Yeah, indeed, so they've agreed to pay more than seven
Speaker 1: billion dollars as part of this. This is them trying
Speaker 1: to resolve, as you say, these cases over the weed
Speaker 1: killer that is to do with it with it being
Speaker 1: linked to cancer. So this is both current and future lawsuits.
Speaker 1: So they're trying to resolve. They're so seven billion dollars,
Speaker 1: you know, assessment plan, moving on. It's been really hitting
Speaker 1: the company for years. It's been something that's been been
Speaker 1: going along for years and really been hitting Bear. So
Speaker 1: paying this and as you say, shares shares felled today
Speaker 1: that they fell about seven percent. They had actually risen
Speaker 1: by a similar amount yesterday afternoon after this news and
Speaker 1: then and then as I say, falling this morning. One
Speaker 1: comment was saying that, you know, it is likely the
Speaker 1: best possible outcome, but it's not necessarily the breakthrough that
Speaker 1: investors had hoped for, So maybe that explains that the
Speaker 1: change in that share price reaction. And there's also the
Speaker 1: kind of added challenge around this, and as this all
Speaker 1: settles in one limiting the financial burden on the company,
Speaker 1: but also making the compensation good enough essentially to prevent
Speaker 1: more or renewed litigation going forward. So a bit of
Speaker 1: a mixed picture there, but settling that for Bear.
Speaker 3: Yeah, of course this is one that has been a
Speaker 3: long running story for company, so one to think about
Speaker 3: this morning. We're going to turn next to Raspberry Pie,
Speaker 3: the computer maker. Shares have risen sharply and been halted
Speaker 3: at some stages for volatility this morning. Louise at what's
Speaker 3: going on?
Speaker 1: Yeah, a really interesting one, apologies, a really interesting one
Speaker 1: today thirty three percent rasby Pie. Yesterday they had their
Speaker 1: best one day performance since twenty twenty four IPO since
Speaker 1: they listened in twenty twenty four. They're up about ninety
Speaker 1: percent in the week, so they've now got a valuation
Speaker 1: of about one billion pounds. And the trigger around this
Speaker 1: is a social media post, so it's saying that some
Speaker 1: AI agents could drive demand for the type of computers
Speaker 1: that Rosby Pie makes, so they're seeing Rosby Pie as
Speaker 1: the kind of ideal hardware platform for these AI agents,
Speaker 1: so causing the stock to saw this is this is happening,
Speaker 1: as I say, through the whole week. There's also a
Speaker 1: bit of play here of short sellers closing their negative bets.
Speaker 1: Also as a result of this, it had been one
Speaker 1: of the most shorted stocks in Europe, so they're closing
Speaker 1: those negative bets. And there was a note from Jeffrey saying,
Speaker 1: you know that all this chatter on social media could
Speaker 1: support further upside. So we're keeping an eye see if
Speaker 1: these games will continue. But quite a remarkable week so
Speaker 1: far from usby Pie.
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