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 have a look at the stocks on the move
Speaker 3: today here in Europe. I'm Caroline Hepgar with Tom McKenzie
Speaker 3: and we're joined by Bloomberg reporter at Louis Moon Louise.
Speaker 3: Good morning, Rai matan other European defense stocks are rising
Speaker 3: because of the progress in Germany on building the bunderswere
Speaker 3: on spending on the Bundeswear, which of course is the
Speaker 3: German armed forces.
Speaker 1: Indeed, yeah, so Germany is set to approve twenty nine
Speaker 1: procurement contracts for the military that's next week, and that
Speaker 1: will be for a record fifty two billion euro, so
Speaker 1: huge spending from Germany. This is, you know, part of
Speaker 1: their push to transform the military. You had Chancellor Mertz
Speaker 1: last night pledging to make it the strongest conventional army
Speaker 1: in Germany. Obviously, this comes on top of the rise
Speaker 1: in defense spending that we've been seeing since Russia's invasion
Speaker 1: of Ukraine. So as you say, that's benefiting Rai Matau
Speaker 1: in Germany. B Systems in the UK, SARB and stock
Speaker 1: coming across the board really in Europe all ticking up
Speaker 1: into the green on the expectation of benefiting from that
Speaker 1: that the rise in spending, but particularly that that massive
Speaker 1: German record contract in.
Speaker 4: A different sector, but gains coming through again, which is
Speaker 4: in the wind, the wind space, that wind energy space,
Speaker 4: all stead on the rise. And that's after a US
Speaker 4: federal judge ruled that President Trump's executive world of banning
Speaker 4: new wind projects is illegal.
Speaker 1: Yes, this has really been seeing as a win for
Speaker 1: renewable energy. So Trump in January he issued a directive
Speaker 1: effectively halting approvals of wind farms and this so this
Speaker 1: has been kind of ongoing throughout this whole year, and
Speaker 1: all Staid in particular in Europe has has really had
Speaker 1: quite a tumultuous ride of their shares this year on
Speaker 1: the back of this news. So he halted approve of
Speaker 1: wind farms, effectively freezing dozens of projects all around the UK.
Speaker 1: So clean energy project projects around the US. Sorry, this
Speaker 1: was then challenged by about a dozen US states as
Speaker 1: well as a clean energy group, and as you say,
Speaker 1: overnight the federal judge ruled that that ban was illegal.
Speaker 1: So you would think obviously that then you know, all
Speaker 1: said Vestas and both in Copenhagen also others all around Europe,
Speaker 1: that that will benefit them and they could go ahead
Speaker 1: with these projects in the US. So both ticking up
Speaker 1: into the green as well this morning.
Speaker 3: Okay, interesting on wind farms. As for Hello Fresh, another
Speaker 3: German name, the subscription meal company, they're dropping today.
Speaker 1: Why so, there was a note out from Morgan Stanley,
Speaker 1: and Morgan Stanley have downgraded Hello Fresh. So they're saying
Speaker 1: that there's intensifying competition in the US in the ready
Speaker 1: to eat meal space, and so therefore there's a lot
Speaker 1: more uncertainty about Hellofresh's long trajectory, so potential deterioration in
Speaker 1: the fourth quarter in particular, but then also ongoing in
Speaker 1: the long term, so that they're saying that you know this,
Speaker 1: this risk reward is skew to the downside on that
Speaker 1: lack of near term catalyst to boost Hello Fresh, and
Speaker 1: also saying you know that they need to invest a
Speaker 1: lot more next year to stabilize their performance. So a
Speaker 1: downgrade from Morgan Stanley. If you look at now of
Speaker 1: the analyst ratings, I think we was only only the
Speaker 1: only analysts for a cell and there's about ten buys
Speaker 1: and eight hold so a bit of an outlier in
Speaker 1: that space, but the shares really reacting the back of that.
Speaker 1: They dropped really heavily open this morning.
Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.