WEBVTT - Rheinmetall Falls, Magnum Down, IG Group Jumps

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

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

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

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

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<v Speaker 3>the move today here in Europe. I'm Caroline Hepgar with

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<v Speaker 3>Tom McKenzie and were joined Babloomberg with porter Cloe Malay.

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<v Speaker 3>Good morning, Chloe. So we are looking at defense stocks

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<v Speaker 3>this hour after President Trump's latest comments on the Ukraine conflict.

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<v Speaker 3>Ryan Mattal sort of representative for the industry.

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<v Speaker 1>Yeah, and it's doing quite badly this morning, with shares

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<v Speaker 1>down quite significantly. But as we say, we have seen

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<v Speaker 1>that weakness across that defense industry in Europe this morning

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<v Speaker 1>because the prospect of a peace deal in Ukraine is

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<v Speaker 1>coming closer and closer. So Trump has said that the

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<v Speaker 1>war at the end of the war is closer than ever,

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<v Speaker 1>and Zelenski has said that he had reached an agreement

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<v Speaker 1>with the US to make security guarantees legal binding. So

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<v Speaker 1>we'd already seen that those defense shares moving lower yesterday

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<v Speaker 1>because of those reports that Zelenski was willing to abandon

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<v Speaker 1>the long term plan for Ukraine to join NATO in

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<v Speaker 1>exchange for some bilateral security guarantees with the likes of

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<v Speaker 1>the US in Europe. And today those downward moves are

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<v Speaker 1>even sharper because of that very enthusiastic, upbeat commentary from Trump,

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<v Speaker 1>and now the focus is really going to be on

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<v Speaker 1>the response from Putin. One sticking point at the moment

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<v Speaker 1>is that it is around Ukraine given up territory. Trump

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<v Speaker 1>said that they'd have to, that they'd already lost some

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<v Speaker 1>of that territory Brazilenski had said that there was no

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<v Speaker 1>decision that had been made on that, so there still

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<v Speaker 1>remains some issues to iron now, but there's real progress

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<v Speaker 1>on this, and it seems that the market is seeing

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<v Speaker 1>this as a negative for that defense sector and that's

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<v Speaker 1>really weighing on that industry this morning.

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<v Speaker 3>So in a very different space, then keep keeping it.

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<v Speaker 3>Chile ice cream brand Magnum looking to freeze out Ben

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<v Speaker 3>and Jerry's chair. You listed this this business. How our

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<v Speaker 3>investors reacting to that? Not well?

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<v Speaker 1>So this is just a week after the listing, after

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<v Speaker 1>the spinoff for Magnum ice Cream, so there's already a

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<v Speaker 1>little bit of boardroom drama. So this company, which as

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<v Speaker 1>you mentioned, was spun off Unilever and started trading just

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<v Speaker 1>a little over a week ago, is trying to remove

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<v Speaker 1>the chair of Ben and Jerry's board. So that's an

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<v Speaker 1>attempt to really tighten up control on Ben and Jerry's,

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<v Speaker 1>which is a key a subsidiary, and Magnum had essentially

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<v Speaker 1>inherited a very complicated relationship that Unilever had with Ben

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<v Speaker 1>and Jerry's, with Ben and Jerry's accusing Unilever in court

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<v Speaker 1>a firing as CEO because of disputes over the social

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<v Speaker 1>mission that Ben and Jerry's wanted to have in saying

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<v Speaker 1>that Unilever was not allowing it to do so. So

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<v Speaker 1>it looks like the tension that started then under Unilever

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<v Speaker 1>is now continuing under this new structure with that spun

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<v Speaker 1>off Magnum ice Cream company, and that's weighing on the

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<v Speaker 1>stock this morning after what has spin actually what was

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<v Speaker 1>a pretty strong debut.

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<v Speaker 3>Okay on Magnum. Meanwhile, IG Group, Why has this trading

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<v Speaker 3>platform done so well?

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<v Speaker 1>Yeah, there's a quite quite strong momentum for that online

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<v Speaker 1>trading company, and the shes hit a record this morning

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<v Speaker 1>because it's said that it expects to hit its medium

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<v Speaker 1>term targets for revenue ahead of schedule in twenty twenty six,

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<v Speaker 1>and it also extended its buyback, so that indicates really

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<v Speaker 1>strong momentum. Strong demand for its products also means that

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<v Speaker 1>it's able to acquire and have a good retention of

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<v Speaker 1>customers across some of its different products. And now the

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<v Speaker 1>next step for i ig Group is going to be crypto.

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<v Speaker 1>So it's just secured a crypto asset license from the

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<v Speaker 1>UK Financial Conduct Authority in September, so we'll be enabling

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<v Speaker 1>that company to expand its crypto offerings in twenty twenty six.

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<v Speaker 1>That'll be the real focus. And it's also now planning

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<v Speaker 1>to increase marketing investment in twenty twenty six as well

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<v Speaker 1>to accelerate that growth. We'll probably be seeing some ig

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<v Speaker 1>Group ads on the tube very soon.

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

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