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: Now, let's take a look at some of the stocks
Speaker 3: on the move today in Europe. I'm Lizzie Burnin with
Speaker 3: Stephen Carroll and we're joined by Bloomberg's Breaking News editor
Speaker 3: Louise Moon. Louise, I want to start with the oil
Speaker 3: majors because obviously they're losing out this morning given the
Speaker 3: news of a US around peace deal and the subsequent
Speaker 3: fall and oil prices. Who's really hurting exactly Yea.
Speaker 1: So if you look at the likes of Shell BP,
Speaker 1: those all majors here in London, they're the biggest fallers
Speaker 1: on the foot seat one hundred as you say, that's
Speaker 1: obviously on the back of the news with the US
Speaker 1: and Iran oil's falling already closed last week, get three months,
Speaker 1: sinking even further this morning, and that's really hitting those
Speaker 1: major oil companies. And then if you look at the
Speaker 1: flip side, you've got the likes of travel surging benefiting
Speaker 1: the travel set. So that's we're seeing this across Europe.
Speaker 1: So easy yet too EI, all of those kind of
Speaker 1: big travel stocks all surging. So we're seeing that divergence
Speaker 1: there as we've been seeing throughout the war between energy,
Speaker 1: oil and travel. So yeah, really playing out this morning
Speaker 1: all the way across Europe.
Speaker 2: Well away from events in the Middle East.
Speaker 1: You've been looking at shares in buns or the Footsy
Speaker 1: one hundred listed distribution group shares hired today.
Speaker 3: What's driving that?
Speaker 1: Yeah, So activist investor Elliott obviously very well known name
Speaker 1: US activist investor, They've taken a five about about five
Speaker 1: cent steak in Bunzel. This is kind of their new
Speaker 1: fresh target. They already have big steaks in BP the
Speaker 1: London Stock Exchange, so this is their latest steak taken
Speaker 1: in a UK company. Now, Bunzel. As you say, it's
Speaker 1: footy one hundred listed, it's relatively under the radar. It's
Speaker 1: a distributor essentially of a whole host of things from
Speaker 1: food packaging to safety equipment, cleaning supplies and more. Essentially,
Speaker 1: what Elliot wants is for Bunzle to buy back shares
Speaker 1: equivalent to about ten percent of its market value over
Speaker 1: the next twelve months. It also wants a strategic review
Speaker 1: with a focus on North America, which is actually Bunzle's
Speaker 1: largest market. It doesn't come totally out of the blue.
Speaker 1: Bunzel had a quite sudden profit warning last April that
Speaker 1: was blamed on that North American unit. And I say
Speaker 1: sudden because it followed almost kind of a three decade
Speaker 1: streak of continuous dividend growth, So it was quite a
Speaker 1: sudden profit warning there. The shares when that happened totally slumped.
Speaker 1: If you look at a graph of their share price,
Speaker 1: it kind of falls off a cliff when that happened
Speaker 1: in April, and it hasn't really gained. It's gained some
Speaker 1: ground since then, but it's not back at levels before then.
Speaker 1: So Elliott thinks that, you know, doing this and separating
Speaker 1: the business could help lift Bunzles valuation. It seems that
Speaker 1: other shareholders agreed. The stock was up about three percent
Speaker 1: this morning on the back of venues.
Speaker 3: Drawing charts in my mind on the radio, love it, Luis.
Speaker 3: Let's just finally talk about the French energy tech giant,
Speaker 3: Schneider Electric, because they look like they're benefiting from the
Speaker 3: AI buildout.
Speaker 1: Yes, indeed, so they have announced collaboration this morning with
Speaker 1: hon Hi in Taiwan, which is obviously Foxconn, a major
Speaker 1: electronics manufacturer known for making Apple products and a whole
Speaker 1: host of things. So they have a collaboration with Schneider.
Speaker 1: They're going to co develop and scale up next generation
Speaker 1: AI data centers, so production is going to begin later
Speaker 1: this year. But yeah, we're kind of two big companies
Speaker 1: coming together on this, and shares of Schneider up over
Speaker 1: three percent.
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