WEBVTT - Verisure Rises, Close Brothers Up, ABB Surges

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

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

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

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<v Speaker 3>Let's take a look now at some of the stocks

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<v Speaker 3>on the move in Europe. I'm Stephen Carroll, but with

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<v Speaker 3>Caroline Hepker, and we're joining by Bloomberg's Breaking news editor

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<v Speaker 3>Louise Moon. Louise, let's start then with very Sure shares

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<v Speaker 3>of ten percent after their ipo.

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<v Speaker 1>Yeah, so very sure, a securities trading firm.

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<v Speaker 4>They had their IPO in Sweden today in Stockholm sat

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<v Speaker 4>price at the top end of the range that was

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<v Speaker 4>at just over thirteen euros a share, and that meant

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<v Speaker 4>that it raised three point two billion euros. It's the

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<v Speaker 4>largest IPO in three years, so sent yeah, in three

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<v Speaker 4>years for Sweden, so a big ibo for them. Their shares,

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<v Speaker 4>as you say, sword of that, they were up as

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<v Speaker 4>much as ten percent. At one point they hit as

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<v Speaker 4>much as twenty two percent. I think they're now down

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<v Speaker 4>about well up at eighteen so but high gains for

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<v Speaker 4>very sure after ipoing, and it's essentially kind of indicating

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<v Speaker 4>that or cementing Sweden's position as Europe's topic change they've had,

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<v Speaker 4>they've been the topic change for IPA fundraising so far

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<v Speaker 4>this year. And there were some quotes by analysts saying,

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<v Speaker 4>you know that more companies seeing this, more companies could

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<v Speaker 4>come and could list in Stockholm. So good news for

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<v Speaker 4>them this morning being well received in Stockholm. Yeah.

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<v Speaker 1>Absolutely.

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<v Speaker 5>We were also speaking to the CEO of the FCA

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<v Speaker 5>here in Europe that's in the UK rather nikkil Ratty,

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<v Speaker 5>about the car Loan saga. And this is very important

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<v Speaker 5>for UK lenders because it is a big legacy issue

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<v Speaker 5>that is going to cost them money, but perhaps less

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<v Speaker 5>than had been previously thought. So how is it affecting

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<v Speaker 5>those lenders in those names?

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<v Speaker 4>Indeed yet a long, long running saga, so basically benefiting

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<v Speaker 4>lenders this morning, so it's positive news for them. So

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<v Speaker 4>i'd say the FAA came out and they said that

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<v Speaker 4>they're now expecting that these auto lenders will take an

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<v Speaker 4>eleven billion pounds hit to compensate customers. But a lot

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<v Speaker 4>of these lenders that this was less essentially than they

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<v Speaker 4>had previously indicated. So a lot of these lenders have

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<v Speaker 4>set aside a lot more money than actually it seems

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<v Speaker 4>will now be needed, so good news for them this morning.

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<v Speaker 1>So the likes of Lloyds up more than two percent.

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<v Speaker 4>Close Brothers, which is very heavily exposed to this, also

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<v Speaker 4>jumped as much as ten percent at one point, so

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<v Speaker 4>we're really seeing this playthrough into the share reaction. So

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<v Speaker 4>as I say, it means that they can kind of

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<v Speaker 4>release a lot of this money that's been set aside.

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<v Speaker 4>There's one estimate for Lloyd's, for example, saying that they

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<v Speaker 4>might be able to release as much as three hundred

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<v Speaker 4>million pounds now. So the bank that they this morning

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<v Speaker 4>have said that they're you know, currently assessing the impact,

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<v Speaker 4>but in the past they have well at one point

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<v Speaker 4>argued that this long running Carloan saga has made the

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<v Speaker 4>whole industry uninvestable. So this news this morning is really

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<v Speaker 4>proving to be a boost.

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<v Speaker 3>And ABB Louise add an old time high after selling

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<v Speaker 3>robotics arm to SoftBank.

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<v Speaker 4>Indeed, yeah, so ABB, the Swiss conglomerate, they've sold their

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<v Speaker 4>Industrials robots unit to soft Banks that's got more than

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<v Speaker 4>seven thousand staff. It applies a lot of products to

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<v Speaker 4>manufacturers like BMW, and they've sold that for about.

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<v Speaker 1>Five point four billion dollars to soft Bank.

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<v Speaker 4>So on soft Bank side, it shows kind of their

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<v Speaker 4>growing bet into AI, this global kind of wave of

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<v Speaker 4>data center construction and they're really betting on that.

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<v Speaker 1>But for ABB, the reason that.

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<v Speaker 4>Their shares are really reacting positively is because this is

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<v Speaker 4>their their focus on more profitable areas, so they spin

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<v Speaker 4>They had intended to spin this unit off, They've now

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<v Speaker 4>sold it and they're going to focus on areas like

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<v Speaker 4>electrification and other areas that are also surging with this

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<v Speaker 4>kind of spending on data centers. So it's a bit

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<v Speaker 4>of a pivot for ABB and selling off this unit

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<v Speaker 4>to SoftBank, so shares soaring on the back of that.

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

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