WEBVTT - Aegon Drops, Siemens Energy Up, Ferrari Dips  

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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>Let's have a look at some of the stocks on

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<v Speaker 3>the move today here in Europe. I'm Caroline Hepkar with

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<v Speaker 3>Tom mackenzie and we're joined by our reporter Clomer Lake.

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<v Speaker 3>Good morning. The Dutch insurer Egon confirming that it's moving

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<v Speaker 3>its headquarters to the US. Has this made a big

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<v Speaker 3>ripple in markets?

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<v Speaker 4>Yeah, well it has sent the shears down quite a

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<v Speaker 4>bit this morning. There's actually a lot happening for Eggon

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<v Speaker 4>that announced this morning. So as you mentioned, moving the

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<v Speaker 4>headquarters and also the legal domicile over to the US

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<v Speaker 4>and also rebranding as trans America. It's also unveiled new

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<v Speaker 4>midterm targets, a new buybeck of four hundred million euros

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<v Speaker 4>and also a strategic review of the UK unit which

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<v Speaker 4>could potentially result in a divestment.

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<v Speaker 1>So this move is not really coming out of the blue,

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<v Speaker 1>you know.

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<v Speaker 4>This is something that has been on the table for

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<v Speaker 4>quite some time, and it had announced a review this

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<v Speaker 4>summer of its listing and potentially moving its headquarters, and

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<v Speaker 4>it does generate a majority of its profit from the US,

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<v Speaker 4>so it does make sense. But then we did have

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<v Speaker 4>a big share price drop this morning, so that would

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<v Speaker 4>indicate that investors are not super super keen on those

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<v Speaker 4>massive changes. Perhaps that's because of how much that will cost.

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<v Speaker 4>So the company expects to incur about three hundred and

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<v Speaker 4>fifty million euros in costs to twenty twenty eight. And

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<v Speaker 4>then some analysts have also reflected that maybe the announcement

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<v Speaker 4>on payout, so that four hundred million euro buyback is

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<v Speaker 4>also a little disappointing. So there's a lot to digest

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<v Speaker 4>and maybe some of that share price movement will will

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<v Speaker 4>stabilize over the next cooming days as this is a

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<v Speaker 4>little bit more digested by investors and analysts.

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<v Speaker 3>Okay, So from Aigon and the insurance space to Semen's Energy,

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<v Speaker 3>what's the story of Semen's Energy.

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<v Speaker 1>A couple of things happening for Semens Energy as well today.

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<v Speaker 4>So we had an activist investor pushing for a review

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<v Speaker 4>and the potential spin off of the wind operations, which

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<v Speaker 4>has been a part of Semens Energy that has been

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<v Speaker 4>under a little bit more pressure recently. So the activist

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<v Speaker 4>investor said that the unit was a little bit more volatile,

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<v Speaker 4>also a lower margin than some of the other businesses

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<v Speaker 4>within Semens Energy, and that a spinoff would really help

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<v Speaker 4>that company refocus on gas power and grid power as well.

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<v Speaker 4>And then in addition to that, we also had a

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<v Speaker 4>positive read across from Jivanova over in the US, which

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<v Speaker 4>doubled its dividend and also boosted its forecast.

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<v Speaker 1>So that spells quite good news for.

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<v Speaker 4>The electrification sector, which of course has been benefiting from

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<v Speaker 4>the energy demand from AI and also kind of grid

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<v Speaker 4>expansion across the world. So both of those things, the

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<v Speaker 4>activist investor and that positive read across have really lifted

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<v Speaker 4>those shares for Semens Energy today. And by the way,

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<v Speaker 4>it has been having a really good year. We're up

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<v Speaker 4>one hundred and forty percent a year to date, and

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<v Speaker 4>so we it's definitely a continuation of what's already been

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<v Speaker 4>a very positive trajectory.

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<v Speaker 3>Hmm. Okay, so that's interesting now Ferrari, not the f one,

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<v Speaker 3>not Lewis Hamilton's first season with them, But let's think

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<v Speaker 3>about the Alyss view of the company.

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<v Speaker 4>Yeah, maybe a little bit less interesting, bit more dry,

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<v Speaker 4>but it is down this morning after being downgraded by ODO,

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<v Speaker 4>and that is just a couple of days after being

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<v Speaker 4>downgraded by Morgan Stanley. So the problem that analysts have

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<v Speaker 4>with Ferrari is that the company is voluntarily reducing volumes

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<v Speaker 4>to kind of boost desirability for its models. So of

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<v Speaker 4>course that ensures that Ferrari retains that exclusivity that it's

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<v Speaker 4>known for, but it also means quite limited growth in

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<v Speaker 4>the short and medium term. And there's also a lot

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<v Speaker 4>of investor concern around the launch of the company's first

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<v Speaker 4>electric vehicle.

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<v Speaker 1>Which is coming next year.

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<v Speaker 4>So we still have a large majority of by ratings

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<v Speaker 4>on Ferrari, but those couple of downgrades are really weighing

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<v Speaker 4>on that stock, and that's really raising questions about the

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<v Speaker 4>catalysts moving forward.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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