WEBVTT - Shell Surges, Hexagon Deal, Vistry Falls

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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>Well, let's take a look at some stocks on the

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<v Speaker 3>move today in Europe. I'm Stephen Carroll and I'm joined

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<v Speaker 3>by Bloomberg's Breaking News editor Louise Moon. Louise, good morning.

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<v Speaker 3>So let's start with the movement that we're seeing in

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<v Speaker 3>energy price energy price shares this morning. And you've been

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<v Speaker 3>looking at the likes of Shell.

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<v Speaker 1>Yeah, so Shell among as you say, energy stocks in

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<v Speaker 1>general across Europe and in London, Shell's one of the

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<v Speaker 1>top prises on the foot TEO hundred alongside BP and

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<v Speaker 1>as I say, oil stocks kind of gaining in London,

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<v Speaker 1>and they're the top performers on the stock six hundred

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<v Speaker 1>in Europe. Obviously, this comes as oil prices holding firmly

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<v Speaker 1>above one hundred dollars a barrel on the back of

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<v Speaker 1>your starts to enforce a blockage of Iran support. So

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<v Speaker 1>that's hiking oil prices and hike the relevant stocks as well.

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<v Speaker 1>So if you look across Europe, you've got total energies REPSOL,

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<v Speaker 1>both in Paris, Equinor and Oslo. So seeing gains across

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<v Speaker 1>the board there and then on the flip side, airlines

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<v Speaker 1>on the back foot on the prospect of those higher

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<v Speaker 1>jet fuel prices. So you've got the likes of whizz Air,

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<v Speaker 1>Easy Jet, Ryanair, IAG left hands are all down, all

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<v Speaker 1>their shares into the red Bernstein warning that you know,

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<v Speaker 1>those rising fuel costs will eat into their earnings. So

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<v Speaker 1>seeing that the rise in in energy and the fall

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<v Speaker 1>in airlines across Europe this morning.

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<v Speaker 3>Yeah, indeed get more volatility on the back of those

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<v Speaker 3>headlines coming from the Middle East. Let's go to Sweden

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<v Speaker 3>next though, and some news from the sensor maker Hexagon.

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<v Speaker 1>Yes, this is a Swedish tech firm, so they make

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<v Speaker 1>sensors and mapping tools. Essentially they help build digital images

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<v Speaker 1>of the world and then they're used in the customers

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<v Speaker 1>include you know, mining companies, construction companies, manufacturing. So they're

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<v Speaker 1>buying a company called Wagate Technologies for about one point

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<v Speaker 1>four or five billion US dollars in cash from Baker

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<v Speaker 1>Hughes Baker Hues as a US energy tech firm. They're

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<v Speaker 1>based in Houston, so buying Waygate Technologies. Essentially, this allows

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<v Speaker 1>them to expand into slightly different technology and into different industries.

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<v Speaker 1>So whey you gate specializes in tech that's used by energy,

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<v Speaker 1>aerospace cars, so slightly slightly different industries there. It comes

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<v Speaker 1>as you know that there's been more and more deals

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<v Speaker 1>in the space, in the sensor tech space. There's more

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<v Speaker 1>investment in automation and digitalization, you know, across the board,

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<v Speaker 1>and therefore there's rising demand for these kind of companies

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<v Speaker 1>that's kind of fueling these deals. So this deal is

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<v Speaker 1>expected to close in the second half Hexgan shares in

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<v Speaker 1>Stockholm little change perhaps, you know, waiting is a bit

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<v Speaker 1>of a wait and see to the benefits of the deal,

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<v Speaker 1>but expected to close in the second half, and that's

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<v Speaker 1>for one point four or five billion.

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<v Speaker 3>US dollars okay, And in the UK slightly chili reception

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<v Speaker 3>for the new CEO of home builder Vistry.

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<v Speaker 1>Yes, so shares Vistuy is actually among a big forwards

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<v Speaker 1>that they were down as this morning as much as

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<v Speaker 1>four point seven percent. They've named their inside a man

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<v Speaker 1>called Adam Daniels to become their new CEO. So that's

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<v Speaker 1>with immediate effect. So as you say, a bit of

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<v Speaker 1>a chili reception to that the background being so he's

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<v Speaker 1>replacing the outgoing CEO who's retiring, called Greg Fitzgerald. He's

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<v Speaker 1>been there for more than a decade. He's kind of

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<v Speaker 1>steered the company through a lot of deals and shaped

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<v Speaker 1>the company. So Alyss is saying that while it's good

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<v Speaker 1>that this is sorted and it takes away the uncertainty

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<v Speaker 1>over who's going to replace him, investors were expecting an

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<v Speaker 1>external hire, and there's RBC, for example, saying it appears

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<v Speaker 1>a little rushed, so potentially some disappointment there. And then

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<v Speaker 1>I mean, if you look back, if you look at

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<v Speaker 1>their performance and their share price going back over the

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<v Speaker 1>past year, their shares have fallen and forty seven percent,

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<v Speaker 1>partly on a sluggish profit outlook and partly on Fitzgerald leaving.

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<v Speaker 1>So essentially there's a big task for Daniels ahead to

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<v Speaker 1>boost that share price and also to get that confidence

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<v Speaker 1>from investors. So he's pledged a lot of improvement. He

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<v Speaker 1>said he's going to improve cash generation and open market

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<v Speaker 1>sales for Vistry. But as you say, a bit of

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<v Speaker 1>a chili reception for him so far, So we'll have

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<v Speaker 1>to see how he does in the role. As he

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<v Speaker 1>steps in.

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