WEBVTT - Rheinmetall Sinks, Segro's No, Truecaller Surges

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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>Now, let's take a look at some of the stocks

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<v Speaker 3>on the move today in Europe. I'm Lizzie Birding with

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<v Speaker 3>Caroline Hepke. I'm joined by Bloomberg reporter Chloe Melley. Chloe,

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<v Speaker 3>good morning, Good morning. Let's start and defend, shall we.

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<v Speaker 3>Brian Mattal seems to be getting that sinking feeling this morning.

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<v Speaker 4>Yeah, absolutely, Brin Mettel is very weak this morning after

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<v Speaker 4>reports that Germany is not planning on buying new warships

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<v Speaker 4>from that company. So Germany originally wanted to purchase six

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<v Speaker 4>anti submarine warships and that would have been the largest

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<v Speaker 4>procurement project in the history of the German Navy. But

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<v Speaker 4>now Germany is said to instead by eight much smaller

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<v Speaker 4>warships from a TKMS instead, And that is because the

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<v Speaker 4>original project that it had with Brian Mattau had a

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<v Speaker 4>lot of issues with delays and excess costs, and so

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<v Speaker 4>it's obviously a big loss for the company in a

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<v Speaker 4>total of more than a two billion years is said

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<v Speaker 4>to have already been spent on that project since the

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<v Speaker 4>order was placed about six years ago. And this comes

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<v Speaker 4>also at a time of actually quite a lot of

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<v Speaker 4>challenges in German defense projects more generally. You know, the

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<v Speaker 4>government recently pulled out of this Franco German fighter jet

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<v Speaker 4>program FCAST, and that was only a couple of weeks

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<v Speaker 4>ago because there was this continued tensions between Airbus and

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<v Speaker 4>ASO Aviation. So now it's another big reverse or another

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<v Speaker 4>big delay to a project. And Ryan Mettau is seeing

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<v Speaker 4>that really affected chairs this morning. But TKMS is up

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<v Speaker 4>on the flip side.

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<v Speaker 3>Yeah, okay, nimark Segro rejecting what could be the biggest

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<v Speaker 3>public deal in Europe.

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<v Speaker 4>Why yeah, So, Sega is Europe's largest warehouse landlord, so

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<v Speaker 4>it provides office space, warehouses, and crucially very important segment

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<v Speaker 4>is data center properties, and that is what makes Segro

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<v Speaker 4>particularly attractive. And that's why the US real estate investor Prologists,

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<v Speaker 4>which is by the way, the largest owner of industrial

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<v Speaker 4>property in the world, had made a twelve point six

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<v Speaker 4>billion pound offer to buy.

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<v Speaker 1>Segro, but Sega has rejected that.

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<v Speaker 4>And we are seeing Chez soaring this morning on the

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<v Speaker 4>back of that, and you know, we are seeing also

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<v Speaker 4>a lot of its peers actually rising, so try to

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<v Speaker 4>ex big box shoutsby Capital, Big Yellow, all of those

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<v Speaker 4>companies in that real estate market are also rising because

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<v Speaker 4>of this growing m and a interest in that sector.

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<v Speaker 4>So this is quite an interesting angle on this AI

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<v Speaker 4>data center story. You know, the companies that own the

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<v Speaker 4>actual properties that can then be converted into data centers.

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<v Speaker 1>So segro is very well positioned for that and it might.

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<v Speaker 4>Get an even higher office, so we'll be watching out

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<v Speaker 4>for developments there.

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<v Speaker 3>Finally, Corey one on list giving True Caller and upbeat message.

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<v Speaker 1>Yeah.

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<v Speaker 4>So, True Caller is a company that allows users to

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<v Speaker 4>identify unknown numbers and block spam calls and so shares

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<v Speaker 4>were very strongly this morning after ans SEB Equities upgraded

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<v Speaker 4>to the company to a by rating, said that the

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<v Speaker 4>worst is now over for the company after what has

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<v Speaker 4>been quite a roller coaster in terms of the share

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<v Speaker 4>price over the last few months, and the analyst said

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<v Speaker 4>there were signs of growth going forward.

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<v Speaker 1>So one of the big.

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<v Speaker 4>Issues that True Caller has had is that historically the

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<v Speaker 4>dominant revenue stream has been advertising, so essentially displaying ads

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<v Speaker 4>within the True Caller app. But last year, one of

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<v Speaker 4>the main partners that Caller has introduced an algorithmic change

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<v Speaker 4>that impacted the AD revenue quite significantly, and so that

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<v Speaker 4>obstacle had led the shares down, but then that was

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<v Speaker 4>actually lifted a week or so ago, and so that

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<v Speaker 4>means that there's now going to be a boost for

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<v Speaker 4>AD revenue for True Caller.

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<v Speaker 1>So that's probably what has led to that upgrade.

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<v Speaker 4>There's still other issues, but SEBN lists seem to be

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<v Speaker 4>quite optimistic about this company's potential.

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