1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:18,320 Speaker 1: Let's take a look at some stocks on the move 5 00:00:18,360 --> 00:00:21,000 Speaker 1: today in Europe. I'm Stephen Caroll and I'm joined by 6 00:00:21,040 --> 00:00:24,360 Speaker 1: Bloomberg reporter Chloe Melee. Chloe, good morning to you. Let's 7 00:00:24,400 --> 00:00:27,480 Speaker 1: start with the French luxury group carrying an announcement from 8 00:00:27,520 --> 00:00:29,160 Speaker 1: them selling off one of their divisions. 9 00:00:29,520 --> 00:00:32,760 Speaker 3: Yeah, so Karen sold their beauty division to Laurel in 10 00:00:32,840 --> 00:00:34,920 Speaker 3: a four billion euro deal and that is part of 11 00:00:34,960 --> 00:00:38,600 Speaker 3: a broader strategic partnerships between the the two company in 12 00:00:38,680 --> 00:00:41,640 Speaker 3: beauty and wellness in particular. So the move is a 13 00:00:41,720 --> 00:00:45,600 Speaker 3: reversal of the previous strategy from Caring, which had tried 14 00:00:45,640 --> 00:00:48,839 Speaker 3: to push into that beauty and cosmetics segment under previous 15 00:00:48,840 --> 00:00:52,560 Speaker 3: management because some luxury rivals like LVMH had found quite 16 00:00:52,560 --> 00:00:55,200 Speaker 3: a bit of success there. It's also seen as the 17 00:00:55,240 --> 00:00:58,720 Speaker 3: first really big move by Kring's new CEO, Luca de Meyer, 18 00:00:58,800 --> 00:01:02,760 Speaker 3: who started last month and has been trying to turn 19 00:01:02,800 --> 00:01:04,840 Speaker 3: around carrying the same way that he managed to turn 20 00:01:04,880 --> 00:01:07,959 Speaker 3: around Renault and one of his priorities has been to 21 00:01:08,520 --> 00:01:11,520 Speaker 3: slash costs in address carrying is really high debt burden, 22 00:01:11,640 --> 00:01:14,360 Speaker 3: and some analysts have said that the divestment of that 23 00:01:14,480 --> 00:01:18,920 Speaker 3: beauty business is good for the balance sheet and therefore 24 00:01:18,920 --> 00:01:21,679 Speaker 3: it has been rewarded by the market this morning with 25 00:01:21,800 --> 00:01:26,920 Speaker 3: shares higher. Demo is expected to unveil the strategic vision 26 00:01:27,000 --> 00:01:29,120 Speaker 3: next spring, but in the meantime he has been making 27 00:01:29,160 --> 00:01:32,880 Speaker 3: some moves already and that is being quite quite well 28 00:01:32,920 --> 00:01:33,600 Speaker 3: received so far. 29 00:01:34,080 --> 00:01:36,880 Speaker 1: Yeah, certainly those carrying shares up four point two percent 30 00:01:36,920 --> 00:01:40,360 Speaker 1: at the moment in Paris next to a spinoff from 31 00:01:40,400 --> 00:01:44,720 Speaker 1: Tissum Kroup. So the submarine maker and shipbuilder TKMS makes 32 00:01:44,720 --> 00:01:45,800 Speaker 1: its trading debut today. 33 00:01:46,160 --> 00:01:48,480 Speaker 3: Yeah, it made his trading debut in Frankfurt today. It's 34 00:01:48,720 --> 00:01:52,280 Speaker 3: very positive trading debut. So the spinoff decision by thisism 35 00:01:52,320 --> 00:01:54,880 Speaker 3: crop was made to kind of capitalize on the defense 36 00:01:54,920 --> 00:01:58,280 Speaker 3: spending boom in Europe and therefore the submarine in Warship 37 00:01:58,440 --> 00:02:03,480 Speaker 3: Manufacturing Division take Teams was a spin off TKMS. TRUW 38 00:02:03,520 --> 00:02:06,440 Speaker 3: is quite a good debut given it's been a very 39 00:02:06,440 --> 00:02:09,880 Speaker 3: positive day for the European defense sector today. We've seen 40 00:02:09,960 --> 00:02:14,160 Speaker 3: the shares in RAIMETTAW Han Salt Leonardo or rising today 41 00:02:14,200 --> 00:02:16,440 Speaker 3: as the ceasefire and Gaza looks a bit more fragile, 42 00:02:16,639 --> 00:02:18,959 Speaker 3: and there's no more progress that's been made on Ukraine, 43 00:02:19,040 --> 00:02:21,760 Speaker 3: so those tensions have been driving those shares in that 44 00:02:21,800 --> 00:02:25,519 Speaker 3: sector higher. Going forward, TKMS is likely to benefit from 45 00:02:25,520 --> 00:02:29,400 Speaker 3: that broader European defense spending a boost, but specifically German 46 00:02:29,440 --> 00:02:34,440 Speaker 3: defense spending. However, it is worth noting that Europe's reomnment 47 00:02:34,520 --> 00:02:37,440 Speaker 3: has been centering on land and air power, not so 48 00:02:37,600 --> 00:02:41,920 Speaker 3: much on submarines and warships, and the current naval procurement 49 00:02:41,960 --> 00:02:46,280 Speaker 3: from Germany foresees no major expansion of the submarine fleet. 50 00:02:46,360 --> 00:02:49,040 Speaker 3: So the opportunity is there and it seems to be 51 00:02:49,080 --> 00:02:51,680 Speaker 3: reflected in the shares, but perhaps not as massive as 52 00:02:51,960 --> 00:02:52,400 Speaker 3: was hoped. 53 00:02:53,639 --> 00:02:57,480 Speaker 1: Okay, so let's turn to Hulsom next, the Swiss construction 54 00:02:57,560 --> 00:02:59,120 Speaker 1: company announcing a new acquisition. 55 00:02:59,760 --> 00:03:02,959 Speaker 3: Yeah, so, provider of building materials at Wholesome is set 56 00:03:02,960 --> 00:03:06,320 Speaker 3: to acquire Exzella, which is a company that builds walls, 57 00:03:06,680 --> 00:03:09,040 Speaker 3: which I mean we all need those. It's a two 58 00:03:09,040 --> 00:03:12,120 Speaker 3: point two billion dollar deal, which is the largest in 59 00:03:12,160 --> 00:03:15,000 Speaker 3: four years for Wholesome and a deal that the market 60 00:03:15,040 --> 00:03:18,440 Speaker 3: is quite happy about. So it'll expand its offering beyond 61 00:03:18,600 --> 00:03:21,920 Speaker 3: the core cement cement business and then also part of 62 00:03:21,919 --> 00:03:24,360 Speaker 3: a strategy to have kind of more expensive and more 63 00:03:24,360 --> 00:03:27,639 Speaker 3: sustainable products, so it can have that value over volume 64 00:03:27,680 --> 00:03:30,720 Speaker 3: approach that's quite good for margins. Of course. It will 65 00:03:30,720 --> 00:03:33,600 Speaker 3: also boost the exposure to the German residential market, which 66 00:03:33,639 --> 00:03:36,760 Speaker 3: is expected to see an aptic inactivity, and it will 67 00:03:36,760 --> 00:03:40,200 Speaker 3: gain access to new markets like Norway, Sweden and Denmark. 68 00:03:40,680 --> 00:03:43,120 Speaker 3: Wholesome has changed quite a bit recently. Earlier this year, 69 00:03:43,160 --> 00:03:46,360 Speaker 3: the company spart off its North American operations in a 70 00:03:46,400 --> 00:03:49,920 Speaker 3: new dual listing between Switzerland and the US, and so 71 00:03:50,040 --> 00:03:52,600 Speaker 3: far the market has been quite happy about it. You know, 72 00:03:52,640 --> 00:03:54,880 Speaker 3: the shares are up more than fifty percent over the 73 00:03:54,960 --> 00:03:58,119 Speaker 3: last year, and this latest deal for Exella has been 74 00:03:58,200 --> 00:04:00,000 Speaker 3: also very well received. 75 00:04:01,000 --> 00:04:05,240 Speaker 2: The Stockmovers Report from Bloomberg Radio. Check back with us 76 00:04:05,280 --> 00:04:08,080 Speaker 2: throughout the day for the latest roundup of companies making 77 00:04:08,160 --> 00:04:11,760 Speaker 2: news on Wall Street and for the latest market moving headlines. 78 00:04:12,000 --> 00:04:16,000 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 79 00:04:16,040 --> 00:04:19,120 Speaker 2: dot com, and on Applecarplay and Android Auto with the 80 00:04:19,160 --> 00:04:20,520 Speaker 2: Bloomberg Business app.