WEBVTT - Monte Paschi Jumps, Renault Down, Nibe Rises

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

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<v Speaker 1>move today in Europe. Pam James, We've got with Stephen

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<v Speaker 1>Carroll and we're joined by Bloomberg's Teama at a bio.

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<v Speaker 1>First up, Monte pa Pasci. Looks like we have a

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<v Speaker 1>flurry of Italian bank bids.

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<v Speaker 3>Yeah, so just another step in this saga that we've

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<v Speaker 3>seen in terms of the Italian banking sector. So we're

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<v Speaker 3>seeing Chez in Monte Depasci just ticking up with this morning,

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<v Speaker 3>and that's really on the news that they're seeking to

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<v Speaker 3>buy two separate banks for a combined price of thirty

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<v Speaker 3>four billion euros. That's according to a statement released today.

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<v Speaker 3>This seems to be a defensive move which is designed

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<v Speaker 3>really to ward off this takeover bid that we're seeing

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<v Speaker 3>by their rival in Tessa sam Paolo. So they said

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<v Speaker 3>they're launching an all shared bid for Banco BPM and

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<v Speaker 3>also Banker generally. It's a high stakes move really and

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<v Speaker 3>it highlights kind of how their CEO is pulling out

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<v Speaker 3>all the stops in this effort to thwart that takeover,

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<v Speaker 3>that table the bid just a little over two months ago. Now,

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<v Speaker 3>there was a previous idea to work out a merger

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<v Speaker 3>of equals with Banco APM that fell through, and that

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<v Speaker 3>seemed like it was the CEO's preferred defense option. We've

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<v Speaker 3>heard from one analyst actually saying that Monte de Pasci

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<v Speaker 3>has gone from defense to double or nothing, and that

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<v Speaker 3>the idea is to make intesters offer look like a

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<v Speaker 3>breakup bid against a larger national banking platform. So I

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<v Speaker 3>think that's quite an interesting insight, perhaps into the thinking

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<v Speaker 3>in the upper echelons of Monte Depasci, but certainly something.

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<v Speaker 2>To watch well. Next up to the car industry and Reno.

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<v Speaker 3>Yes, Reno's down as much as three point two percent

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<v Speaker 3>this morning. That's as it's seen a downgrade from Barcleay's

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<v Speaker 3>from equal from overweight to equal weights. Analysts are citing

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<v Speaker 3>tough competition in the sector and also the need for

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<v Speaker 3>major cost cuts at Reno. So one in particular says

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<v Speaker 3>that while Reno is showing a clear sense of urgency

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<v Speaker 3>under its new CEO, the sheer magnitude of the savings

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<v Speaker 3>required is just too great. There is some hope perhaps,

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<v Speaker 3>as they say that if Reno can fully execute these

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<v Speaker 3>cost saving targets, it would very likely drive earnings upgrades,

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<v Speaker 3>but they don't expect that to happen until at least

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<v Speaker 3>the first half of twenty twenty seven. So a move

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<v Speaker 3>downwards for Reno and we've seen the stock down nineteen

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<v Speaker 3>percent year to date as well.

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<v Speaker 1>And a big boost for the Swedish boy, the maker Niber.

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<v Speaker 1>What's the story there.

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<v Speaker 3>Well, we have seen a surge that shays up as

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<v Speaker 3>much as ten percent, that's the most since May. It's

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<v Speaker 3>after some strong earnings that we've seen out of the firm,

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<v Speaker 3>and some analysts are predicting this could trigger single digit

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<v Speaker 3>upgrades to consensus estimates. So the team at DMB Carnegie

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<v Speaker 3>have flagged the strong report and particularly group EBIT which

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<v Speaker 3>is thirteen percent ahead of expectations, so a big beat there.

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<v Speaker 3>They note it's predominantly being driven by strength in their

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<v Speaker 3>climate solutions and element sectors. Similarly, and the SB one

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<v Speaker 3>Markets saying that this report is clearly better than not

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<v Speaker 3>just their own consensus expectations, but also the companies itself.

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<v Speaker 3>Morgan Stanley as while saying that the EBIT level results

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<v Speaker 3>beats outside estimates, but they do note that investors could

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<v Speaker 3>have been looking for something more so, perhaps a bit

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<v Speaker 3>of room for improvement there, but certainly a surge this

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<v Speaker 3>morning for Niberg.

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<v Speaker 2>The stock mover's report from Bloomberg Radio. Check back with

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