Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks on
Speaker 3: the move today here in Europe. I'm Caroline Hepgar with
Speaker 3: Tom McKenzie and were joined Babloomberg with porter Cloe Malay.
Speaker 3: Good morning, Chloe. So we are looking at defense stocks
Speaker 3: this hour after President Trump's latest comments on the Ukraine conflict.
Speaker 3: Ryan Mattal sort of representative for the industry.
Speaker 1: Yeah, and it's doing quite badly this morning, with shares
Speaker 1: down quite significantly. But as we say, we have seen
Speaker 1: that weakness across that defense industry in Europe this morning
Speaker 1: because the prospect of a peace deal in Ukraine is
Speaker 1: coming closer and closer. So Trump has said that the
Speaker 1: war at the end of the war is closer than ever,
Speaker 1: and Zelenski has said that he had reached an agreement
Speaker 1: with the US to make security guarantees legal binding. So
Speaker 1: we'd already seen that those defense shares moving lower yesterday
Speaker 1: because of those reports that Zelenski was willing to abandon
Speaker 1: the long term plan for Ukraine to join NATO in
Speaker 1: exchange for some bilateral security guarantees with the likes of
Speaker 1: the US in Europe. And today those downward moves are
Speaker 1: even sharper because of that very enthusiastic, upbeat commentary from Trump,
Speaker 1: and now the focus is really going to be on
Speaker 1: the response from Putin. One sticking point at the moment
Speaker 1: is that it is around Ukraine given up territory. Trump
Speaker 1: said that they'd have to, that they'd already lost some
Speaker 1: of that territory Brazilenski had said that there was no
Speaker 1: decision that had been made on that, so there still
Speaker 1: remains some issues to iron now, but there's real progress
Speaker 1: on this, and it seems that the market is seeing
Speaker 1: this as a negative for that defense sector and that's
Speaker 1: really weighing on that industry this morning.
Speaker 3: So in a very different space, then keep keeping it.
Speaker 3: Chile ice cream brand Magnum looking to freeze out Ben
Speaker 3: and Jerry's chair. You listed this this business. How our
Speaker 3: investors reacting to that? Not well?
Speaker 1: So this is just a week after the listing, after
Speaker 1: the spinoff for Magnum ice Cream, so there's already a
Speaker 1: little bit of boardroom drama. So this company, which as
Speaker 1: you mentioned, was spun off Unilever and started trading just
Speaker 1: a little over a week ago, is trying to remove
Speaker 1: the chair of Ben and Jerry's board. So that's an
Speaker 1: attempt to really tighten up control on Ben and Jerry's,
Speaker 1: which is a key a subsidiary, and Magnum had essentially
Speaker 1: inherited a very complicated relationship that Unilever had with Ben
Speaker 1: and Jerry's, with Ben and Jerry's accusing Unilever in court
Speaker 1: a firing as CEO because of disputes over the social
Speaker 1: mission that Ben and Jerry's wanted to have in saying
Speaker 1: that Unilever was not allowing it to do so. So
Speaker 1: it looks like the tension that started then under Unilever
Speaker 1: is now continuing under this new structure with that spun
Speaker 1: off Magnum ice Cream company, and that's weighing on the
Speaker 1: stock this morning after what has spin actually what was
Speaker 1: a pretty strong debut.
Speaker 3: Okay on Magnum. Meanwhile, IG Group, Why has this trading
Speaker 3: platform done so well?
Speaker 1: Yeah, there's a quite quite strong momentum for that online
Speaker 1: trading company, and the shes hit a record this morning
Speaker 1: because it's said that it expects to hit its medium
Speaker 1: term targets for revenue ahead of schedule in twenty twenty six,
Speaker 1: and it also extended its buyback, so that indicates really
Speaker 1: strong momentum. Strong demand for its products also means that
Speaker 1: it's able to acquire and have a good retention of
Speaker 1: customers across some of its different products. And now the
Speaker 1: next step for i ig Group is going to be crypto.
Speaker 1: So it's just secured a crypto asset license from the
Speaker 1: UK Financial Conduct Authority in September, so we'll be enabling
Speaker 1: that company to expand its crypto offerings in twenty twenty six.
Speaker 1: That'll be the real focus. And it's also now planning
Speaker 1: to increase marketing investment in twenty twenty six as well
Speaker 1: to accelerate that growth. We'll probably be seeing some ig
Speaker 1: Group ads on the tube very soon.
Speaker 2: The Stockmover's report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg
Speaker 2: dot com, and on Applecarplay and Android Auto with the
Speaker 2: Bloomberg Business app.