1 00:00:02,520 --> 00:00:07,360 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 00:00:16,640 --> 00:00:18,200 Speaker 3: Let's have a look at some of the stocks on 5 00:00:18,320 --> 00:00:20,959 Speaker 3: the move today here in Europe. I'm Caroline Hepkar with 6 00:00:21,040 --> 00:00:23,800 Speaker 3: Tom mackenzie and we're joined by our reporter Clomer Lake. 7 00:00:23,880 --> 00:00:28,400 Speaker 3: Good morning. The Dutch insurer Egon confirming that it's moving 8 00:00:28,440 --> 00:00:31,280 Speaker 3: its headquarters to the US. Has this made a big 9 00:00:31,560 --> 00:00:32,680 Speaker 3: ripple in markets? 10 00:00:32,880 --> 00:00:35,120 Speaker 4: Yeah, well it has sent the shears down quite a 11 00:00:35,159 --> 00:00:37,760 Speaker 4: bit this morning. There's actually a lot happening for Eggon 12 00:00:37,840 --> 00:00:40,320 Speaker 4: that announced this morning. So as you mentioned, moving the 13 00:00:40,360 --> 00:00:44,120 Speaker 4: headquarters and also the legal domicile over to the US 14 00:00:44,240 --> 00:00:48,360 Speaker 4: and also rebranding as trans America. It's also unveiled new 15 00:00:48,479 --> 00:00:51,600 Speaker 4: midterm targets, a new buybeck of four hundred million euros 16 00:00:51,840 --> 00:00:54,720 Speaker 4: and also a strategic review of the UK unit which 17 00:00:55,040 --> 00:00:56,960 Speaker 4: could potentially result in a divestment. 18 00:00:57,600 --> 00:00:59,960 Speaker 1: So this move is not really coming out of the blue, 19 00:01:00,040 --> 00:01:00,400 Speaker 1: you know. 20 00:01:00,480 --> 00:01:02,840 Speaker 4: This is something that has been on the table for 21 00:01:03,000 --> 00:01:06,600 Speaker 4: quite some time, and it had announced a review this 22 00:01:06,640 --> 00:01:11,480 Speaker 4: summer of its listing and potentially moving its headquarters, and 23 00:01:11,520 --> 00:01:14,640 Speaker 4: it does generate a majority of its profit from the US, 24 00:01:14,680 --> 00:01:17,160 Speaker 4: so it does make sense. But then we did have 25 00:01:17,240 --> 00:01:19,440 Speaker 4: a big share price drop this morning, so that would 26 00:01:19,480 --> 00:01:22,560 Speaker 4: indicate that investors are not super super keen on those 27 00:01:22,600 --> 00:01:25,759 Speaker 4: massive changes. Perhaps that's because of how much that will cost. 28 00:01:25,840 --> 00:01:28,760 Speaker 4: So the company expects to incur about three hundred and 29 00:01:28,760 --> 00:01:32,440 Speaker 4: fifty million euros in costs to twenty twenty eight. And 30 00:01:32,480 --> 00:01:35,080 Speaker 4: then some analysts have also reflected that maybe the announcement 31 00:01:35,120 --> 00:01:37,840 Speaker 4: on payout, so that four hundred million euro buyback is 32 00:01:37,880 --> 00:01:41,360 Speaker 4: also a little disappointing. So there's a lot to digest 33 00:01:41,400 --> 00:01:44,720 Speaker 4: and maybe some of that share price movement will will 34 00:01:44,760 --> 00:01:48,200 Speaker 4: stabilize over the next cooming days as this is a 35 00:01:48,240 --> 00:01:51,280 Speaker 4: little bit more digested by investors and analysts. 36 00:01:51,400 --> 00:01:55,200 Speaker 3: Okay, So from Aigon and the insurance space to Semen's Energy, 37 00:01:55,200 --> 00:01:56,919 Speaker 3: what's the story of Semen's Energy. 38 00:01:57,080 --> 00:01:59,480 Speaker 1: A couple of things happening for Semens Energy as well today. 39 00:01:59,480 --> 00:02:02,720 Speaker 4: So we had an activist investor pushing for a review 40 00:02:02,800 --> 00:02:05,480 Speaker 4: and the potential spin off of the wind operations, which 41 00:02:05,520 --> 00:02:07,600 Speaker 4: has been a part of Semens Energy that has been 42 00:02:07,920 --> 00:02:11,080 Speaker 4: under a little bit more pressure recently. So the activist 43 00:02:11,160 --> 00:02:14,079 Speaker 4: investor said that the unit was a little bit more volatile, 44 00:02:14,560 --> 00:02:17,560 Speaker 4: also a lower margin than some of the other businesses 45 00:02:17,600 --> 00:02:20,400 Speaker 4: within Semens Energy, and that a spinoff would really help 46 00:02:20,480 --> 00:02:25,280 Speaker 4: that company refocus on gas power and grid power as well. 47 00:02:25,840 --> 00:02:27,760 Speaker 4: And then in addition to that, we also had a 48 00:02:27,800 --> 00:02:32,040 Speaker 4: positive read across from Jivanova over in the US, which 49 00:02:32,080 --> 00:02:35,000 Speaker 4: doubled its dividend and also boosted its forecast. 50 00:02:35,000 --> 00:02:36,760 Speaker 1: So that spells quite good news for. 51 00:02:36,720 --> 00:02:40,000 Speaker 4: The electrification sector, which of course has been benefiting from 52 00:02:40,120 --> 00:02:42,800 Speaker 4: the energy demand from AI and also kind of grid 53 00:02:42,880 --> 00:02:45,880 Speaker 4: expansion across the world. So both of those things, the 54 00:02:45,919 --> 00:02:49,440 Speaker 4: activist investor and that positive read across have really lifted 55 00:02:49,480 --> 00:02:52,160 Speaker 4: those shares for Semens Energy today. And by the way, 56 00:02:52,200 --> 00:02:54,040 Speaker 4: it has been having a really good year. We're up 57 00:02:54,240 --> 00:02:56,480 Speaker 4: one hundred and forty percent a year to date, and 58 00:02:56,520 --> 00:02:59,400 Speaker 4: so we it's definitely a continuation of what's already been 59 00:02:59,440 --> 00:03:01,079 Speaker 4: a very positive trajectory. 60 00:03:01,480 --> 00:03:06,600 Speaker 3: Hmm. Okay, so that's interesting now Ferrari, not the f one, 61 00:03:06,960 --> 00:03:09,880 Speaker 3: not Lewis Hamilton's first season with them, But let's think 62 00:03:09,919 --> 00:03:12,079 Speaker 3: about the Alyss view of the company. 63 00:03:12,200 --> 00:03:14,400 Speaker 4: Yeah, maybe a little bit less interesting, bit more dry, 64 00:03:14,440 --> 00:03:17,200 Speaker 4: but it is down this morning after being downgraded by ODO, 65 00:03:17,280 --> 00:03:19,400 Speaker 4: and that is just a couple of days after being 66 00:03:19,440 --> 00:03:22,560 Speaker 4: downgraded by Morgan Stanley. So the problem that analysts have 67 00:03:22,760 --> 00:03:26,480 Speaker 4: with Ferrari is that the company is voluntarily reducing volumes 68 00:03:26,480 --> 00:03:29,520 Speaker 4: to kind of boost desirability for its models. So of 69 00:03:29,560 --> 00:03:32,959 Speaker 4: course that ensures that Ferrari retains that exclusivity that it's 70 00:03:32,960 --> 00:03:35,840 Speaker 4: known for, but it also means quite limited growth in 71 00:03:35,880 --> 00:03:38,200 Speaker 4: the short and medium term. And there's also a lot 72 00:03:38,200 --> 00:03:41,320 Speaker 4: of investor concern around the launch of the company's first 73 00:03:41,360 --> 00:03:42,800 Speaker 4: electric vehicle. 74 00:03:42,560 --> 00:03:43,880 Speaker 1: Which is coming next year. 75 00:03:44,560 --> 00:03:47,000 Speaker 4: So we still have a large majority of by ratings 76 00:03:47,000 --> 00:03:49,960 Speaker 4: on Ferrari, but those couple of downgrades are really weighing 77 00:03:50,240 --> 00:03:52,640 Speaker 4: on that stock, and that's really raising questions about the 78 00:03:52,680 --> 00:03:54,000 Speaker 4: catalysts moving forward. 79 00:03:55,480 --> 00:03:59,440 Speaker 2: The Stock Movers report from Bloomberg Radio. 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