1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,920 --> 00:00:18,640 Speaker 3: Let's take a look now at some of the stocks 5 00:00:18,680 --> 00:00:21,360 Speaker 3: on the move in Europe. I'm Stephen Carroll, but with 6 00:00:21,440 --> 00:00:24,040 Speaker 3: Caroline Hepker, and we're joining by Bloomberg's Breaking news editor 7 00:00:24,160 --> 00:00:28,160 Speaker 3: Louise Moon. Louise, let's start then with very Sure shares 8 00:00:28,200 --> 00:00:29,840 Speaker 3: of ten percent after their ipo. 9 00:00:30,600 --> 00:00:33,080 Speaker 1: Yeah, so very sure, a securities trading firm. 10 00:00:33,120 --> 00:00:36,360 Speaker 4: They had their IPO in Sweden today in Stockholm sat 11 00:00:36,360 --> 00:00:38,080 Speaker 4: price at the top end of the range that was 12 00:00:38,080 --> 00:00:41,560 Speaker 4: at just over thirteen euros a share, and that meant 13 00:00:41,560 --> 00:00:44,680 Speaker 4: that it raised three point two billion euros. It's the 14 00:00:44,760 --> 00:00:47,880 Speaker 4: largest IPO in three years, so sent yeah, in three 15 00:00:47,920 --> 00:00:52,200 Speaker 4: years for Sweden, so a big ibo for them. Their shares, 16 00:00:52,280 --> 00:00:55,040 Speaker 4: as you say, sword of that, they were up as 17 00:00:55,120 --> 00:00:56,920 Speaker 4: much as ten percent. At one point they hit as 18 00:00:56,960 --> 00:00:58,880 Speaker 4: much as twenty two percent. I think they're now down 19 00:00:58,920 --> 00:01:03,360 Speaker 4: about well up at eighteen so but high gains for 20 00:01:03,800 --> 00:01:07,240 Speaker 4: very sure after ipoing, and it's essentially kind of indicating 21 00:01:08,560 --> 00:01:12,720 Speaker 4: that or cementing Sweden's position as Europe's topic change they've had, 22 00:01:13,040 --> 00:01:15,280 Speaker 4: they've been the topic change for IPA fundraising so far 23 00:01:15,319 --> 00:01:19,320 Speaker 4: this year. And there were some quotes by analysts saying, 24 00:01:19,360 --> 00:01:22,400 Speaker 4: you know that more companies seeing this, more companies could 25 00:01:22,440 --> 00:01:25,840 Speaker 4: come and could list in Stockholm. So good news for 26 00:01:25,880 --> 00:01:29,479 Speaker 4: them this morning being well received in Stockholm. Yeah. 27 00:01:29,520 --> 00:01:30,160 Speaker 1: Absolutely. 28 00:01:30,400 --> 00:01:33,160 Speaker 5: We were also speaking to the CEO of the FCA 29 00:01:33,280 --> 00:01:36,479 Speaker 5: here in Europe that's in the UK rather nikkil Ratty, 30 00:01:36,600 --> 00:01:40,800 Speaker 5: about the car Loan saga. And this is very important 31 00:01:40,840 --> 00:01:44,120 Speaker 5: for UK lenders because it is a big legacy issue 32 00:01:44,120 --> 00:01:46,880 Speaker 5: that is going to cost them money, but perhaps less 33 00:01:46,920 --> 00:01:49,520 Speaker 5: than had been previously thought. So how is it affecting 34 00:01:49,560 --> 00:01:51,000 Speaker 5: those lenders in those names? 35 00:01:51,080 --> 00:01:55,360 Speaker 4: Indeed yet a long, long running saga, so basically benefiting 36 00:01:55,480 --> 00:01:58,120 Speaker 4: lenders this morning, so it's positive news for them. So 37 00:01:58,160 --> 00:01:59,920 Speaker 4: i'd say the FAA came out and they said that 38 00:02:00,240 --> 00:02:03,400 Speaker 4: they're now expecting that these auto lenders will take an 39 00:02:03,440 --> 00:02:07,080 Speaker 4: eleven billion pounds hit to compensate customers. But a lot 40 00:02:07,080 --> 00:02:10,360 Speaker 4: of these lenders that this was less essentially than they 41 00:02:10,360 --> 00:02:12,200 Speaker 4: had previously indicated. So a lot of these lenders have 42 00:02:12,280 --> 00:02:15,080 Speaker 4: set aside a lot more money than actually it seems 43 00:02:15,080 --> 00:02:18,320 Speaker 4: will now be needed, so good news for them this morning. 44 00:02:18,400 --> 00:02:21,760 Speaker 1: So the likes of Lloyds up more than two percent. 45 00:02:21,919 --> 00:02:24,840 Speaker 4: Close Brothers, which is very heavily exposed to this, also 46 00:02:24,919 --> 00:02:26,840 Speaker 4: jumped as much as ten percent at one point, so 47 00:02:27,240 --> 00:02:31,160 Speaker 4: we're really seeing this playthrough into the share reaction. So 48 00:02:31,520 --> 00:02:33,480 Speaker 4: as I say, it means that they can kind of 49 00:02:33,480 --> 00:02:35,720 Speaker 4: release a lot of this money that's been set aside. 50 00:02:35,720 --> 00:02:37,960 Speaker 4: There's one estimate for Lloyd's, for example, saying that they 51 00:02:38,000 --> 00:02:39,600 Speaker 4: might be able to release as much as three hundred 52 00:02:39,680 --> 00:02:43,239 Speaker 4: million pounds now. So the bank that they this morning 53 00:02:43,240 --> 00:02:45,519 Speaker 4: have said that they're you know, currently assessing the impact, 54 00:02:45,960 --> 00:02:49,240 Speaker 4: but in the past they have well at one point 55 00:02:49,320 --> 00:02:53,080 Speaker 4: argued that this long running Carloan saga has made the 56 00:02:53,120 --> 00:02:57,560 Speaker 4: whole industry uninvestable. So this news this morning is really 57 00:02:57,600 --> 00:02:58,840 Speaker 4: proving to be a boost. 58 00:02:59,200 --> 00:03:01,960 Speaker 3: And ABB Louise add an old time high after selling 59 00:03:02,000 --> 00:03:03,440 Speaker 3: robotics arm to SoftBank. 60 00:03:04,120 --> 00:03:08,679 Speaker 4: Indeed, yeah, so ABB, the Swiss conglomerate, they've sold their 61 00:03:08,840 --> 00:03:11,960 Speaker 4: Industrials robots unit to soft Banks that's got more than 62 00:03:11,960 --> 00:03:14,640 Speaker 4: seven thousand staff. It applies a lot of products to 63 00:03:14,720 --> 00:03:18,320 Speaker 4: manufacturers like BMW, and they've sold that for about. 64 00:03:18,040 --> 00:03:20,000 Speaker 1: Five point four billion dollars to soft Bank. 65 00:03:20,040 --> 00:03:22,880 Speaker 4: So on soft Bank side, it shows kind of their 66 00:03:22,880 --> 00:03:26,400 Speaker 4: growing bet into AI, this global kind of wave of 67 00:03:26,480 --> 00:03:28,520 Speaker 4: data center construction and they're really betting on that. 68 00:03:28,560 --> 00:03:30,480 Speaker 1: But for ABB, the reason that. 69 00:03:30,440 --> 00:03:33,560 Speaker 4: Their shares are really reacting positively is because this is 70 00:03:33,639 --> 00:03:37,520 Speaker 4: their their focus on more profitable areas, so they spin 71 00:03:37,880 --> 00:03:39,880 Speaker 4: They had intended to spin this unit off, They've now 72 00:03:39,920 --> 00:03:42,200 Speaker 4: sold it and they're going to focus on areas like 73 00:03:42,280 --> 00:03:45,360 Speaker 4: electrification and other areas that are also surging with this 74 00:03:45,440 --> 00:03:47,640 Speaker 4: kind of spending on data centers. So it's a bit 75 00:03:47,680 --> 00:03:50,720 Speaker 4: of a pivot for ABB and selling off this unit 76 00:03:50,760 --> 00:03:53,280 Speaker 4: to SoftBank, so shares soaring on the back of that. 77 00:03:54,680 --> 00:03:58,720 Speaker 2: The Stock Mover's report from Bloomberg Radio. Check back with 78 00:03:58,800 --> 00:04:01,360 Speaker 2: us throughout the day for the latest roundup of companies 79 00:04:01,440 --> 00:04:04,560 Speaker 2: making news on Wall Street and for the latest market 80 00:04:04,560 --> 00:04:09,040 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 81 00:04:09,120 --> 00:04:12,640 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 82 00:04:12,680 --> 00:04:14,160 Speaker 2: the Bloomberg Business app.