Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look now at some of the stocks
Speaker 3: on the move in Europe. I'm Stephen Carroll, but with
Speaker 3: Caroline Hepker, and we're joining by Bloomberg's Breaking news editor
Speaker 3: Louise Moon. Louise, let's start then with very Sure shares
Speaker 3: of ten percent after their ipo.
Speaker 1: Yeah, so very sure, a securities trading firm.
Speaker 4: They had their IPO in Sweden today in Stockholm sat
Speaker 4: price at the top end of the range that was
Speaker 4: at just over thirteen euros a share, and that meant
Speaker 4: that it raised three point two billion euros. It's the
Speaker 4: largest IPO in three years, so sent yeah, in three
Speaker 4: years for Sweden, so a big ibo for them. Their shares,
Speaker 4: as you say, sword of that, they were up as
Speaker 4: much as ten percent. At one point they hit as
Speaker 4: much as twenty two percent. I think they're now down
Speaker 4: about well up at eighteen so but high gains for
Speaker 4: very sure after ipoing, and it's essentially kind of indicating
Speaker 4: that or cementing Sweden's position as Europe's topic change they've had,
Speaker 4: they've been the topic change for IPA fundraising so far
Speaker 4: this year. And there were some quotes by analysts saying,
Speaker 4: you know that more companies seeing this, more companies could
Speaker 4: come and could list in Stockholm. So good news for
Speaker 4: them this morning being well received in Stockholm. Yeah.
Speaker 1: Absolutely.
Speaker 5: We were also speaking to the CEO of the FCA
Speaker 5: here in Europe that's in the UK rather nikkil Ratty,
Speaker 5: about the car Loan saga. And this is very important
Speaker 5: for UK lenders because it is a big legacy issue
Speaker 5: that is going to cost them money, but perhaps less
Speaker 5: than had been previously thought. So how is it affecting
Speaker 5: those lenders in those names?
Speaker 4: Indeed yet a long, long running saga, so basically benefiting
Speaker 4: lenders this morning, so it's positive news for them. So
Speaker 4: i'd say the FAA came out and they said that
Speaker 4: they're now expecting that these auto lenders will take an
Speaker 4: eleven billion pounds hit to compensate customers. But a lot
Speaker 4: of these lenders that this was less essentially than they
Speaker 4: had previously indicated. So a lot of these lenders have
Speaker 4: set aside a lot more money than actually it seems
Speaker 4: will now be needed, so good news for them this morning.
Speaker 1: So the likes of Lloyds up more than two percent.
Speaker 4: Close Brothers, which is very heavily exposed to this, also
Speaker 4: jumped as much as ten percent at one point, so
Speaker 4: we're really seeing this playthrough into the share reaction. So
Speaker 4: as I say, it means that they can kind of
Speaker 4: release a lot of this money that's been set aside.
Speaker 4: There's one estimate for Lloyd's, for example, saying that they
Speaker 4: might be able to release as much as three hundred
Speaker 4: million pounds now. So the bank that they this morning
Speaker 4: have said that they're you know, currently assessing the impact,
Speaker 4: but in the past they have well at one point
Speaker 4: argued that this long running Carloan saga has made the
Speaker 4: whole industry uninvestable. So this news this morning is really
Speaker 4: proving to be a boost.
Speaker 3: And ABB Louise add an old time high after selling
Speaker 3: robotics arm to SoftBank.
Speaker 4: Indeed, yeah, so ABB, the Swiss conglomerate, they've sold their
Speaker 4: Industrials robots unit to soft Banks that's got more than
Speaker 4: seven thousand staff. It applies a lot of products to
Speaker 4: manufacturers like BMW, and they've sold that for about.
Speaker 1: Five point four billion dollars to soft Bank.
Speaker 4: So on soft Bank side, it shows kind of their
Speaker 4: growing bet into AI, this global kind of wave of
Speaker 4: data center construction and they're really betting on that.
Speaker 1: But for ABB, the reason that.
Speaker 4: Their shares are really reacting positively is because this is
Speaker 4: their their focus on more profitable areas, so they spin
Speaker 4: They had intended to spin this unit off, They've now
Speaker 4: sold it and they're going to focus on areas like
Speaker 4: electrification and other areas that are also surging with this
Speaker 4: kind of spending on data centers. So it's a bit
Speaker 4: of a pivot for ABB and selling off this unit
Speaker 4: to SoftBank, so shares soaring on the back of that.
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