Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 3: Well, let's take a look at some of the stocks
Speaker 3: on the move today in Europe. I'm to you Added
Speaker 3: Bay with Caroline Hepka, and we're joined by Bloomberg reporter
Speaker 3: Chloe Melee.
Speaker 2: Chloe.
Speaker 3: Monte de Paski is being inundated with offers. What's going
Speaker 3: on that?
Speaker 1: Yeah, it's very much in demand. So Monte de Pesci
Speaker 1: has received offers from both in Tessa San Paolo and
Speaker 1: Banco BPM over the last few days. So this is
Speaker 1: really triggering a new phase of deal making of m
Speaker 1: and A in the talent banking afterwards. Already been a
Speaker 1: lot of recent deals, including Monte de Pesci's own acquisition
Speaker 1: of Media Banker that happened just last year. And so
Speaker 1: if we look a bit deeper at these potential offers,
Speaker 1: so we've got a Bank of BPM pitching a merger
Speaker 1: of equals which would result in a combined entity worth
Speaker 1: about fifty billion euros, and then in Tessa made instead
Speaker 1: something a bit different, a thirty point six billion euro bid,
Speaker 1: and so that would create the most valuable finance firm
Speaker 1: in Italy. It's also a deal that involves other parties.
Speaker 1: So in Tessa would essentially sell Montepesci assets to the
Speaker 1: insurance company Unipoor, which would then propose a merger between
Speaker 1: those assets and another company called Bepe Banker. So there's
Speaker 1: a lot, maybe quite quite a bit of complexity there
Speaker 1: in those potential deals, and there's a lot of happening
Speaker 1: in Italian finance in the general in general, because we
Speaker 1: had Banker BPM acquiring an asset manager called Animal Holding
Speaker 1: as well recently. And then of course we can't not
Speaker 1: mention that unicredits MNA ambitions that of course are very
Speaker 1: much in focus as well. And so on the back
Speaker 1: of those offers, Monte Deepesci shares really surged this morning,
Speaker 1: but on the other hand, the bidders Banker BPM and
Speaker 1: in Tessa were down slightly, so we'll be watching out
Speaker 1: for any further developments there as well.
Speaker 4: Okay, So that yeah, since we was saying by come
Speaker 4: onto capacity share price up considerably today, air Bus is
Speaker 4: finding out that the whole isn't greater than the sum
Speaker 4: of its parts.
Speaker 1: Yeah, So Ebus is said to have notified customers of
Speaker 1: some delivery delays because of the shortages of some parts.
Speaker 1: So this is really the latest sign of ongoing supply
Speaker 1: chain issues at the company, and that is really widening
Speaker 1: that performance get between Airbus and Boeing, because for all
Speaker 1: of its recent and very highly publicized problems, Boeing has
Speaker 1: actually been doing a lot better recently and has really
Speaker 1: been able to improve output and to respond to increasing demand,
Speaker 1: whereas Airbus has actually been challenged a bit more and
Speaker 1: dealing with shortages of aircraft parts, in particular with problems
Speaker 1: with engines from Pratt and Whitney, which is something that
Speaker 1: has been ongoing for a while now. So the latest
Speaker 1: earnings from Airbus were also evidence of some of that.
Speaker 1: There was some weakness there. So the news of those
Speaker 1: potential delivery delays that is not going to help the
Speaker 1: share price, and this is obviously part of these broader
Speaker 1: issues within the aviation sector. Really redealing with of course
Speaker 1: is higher fuel cost, is disruption to flight schedules, and
Speaker 1: so we're seeing ABBAS shares down this morning and down
Speaker 1: almost twelve percent this year, so not having a great
Speaker 1: year so far.
Speaker 3: Okay, it looks like Berrian's pulling ahead in that race
Speaker 3: between the two airline makers. But the London Stock Exchange
Speaker 3: is looking bitterly at Titu Lyle. Tell us why it
Speaker 3: might not be a sweet goodbye for all parties here.
Speaker 1: Yeah, so there's so many punel opportunities there. So Ingredient
Speaker 1: has agreed to buy Tate and Lyle, which is an
Speaker 1: ingredients maker, in a two point seven billion pound deal.
Speaker 1: And as you said, with regards to the London Stock Exchange,
Speaker 1: this is really a symbolic loss for that exchange, given
Speaker 1: that Titan Lyle is one of the oldest companies and
Speaker 1: it's also the last remaining company from the UK's original
Speaker 1: FT thirty index. And so the LC is, of course,
Speaker 1: as we've been talking about for a while now, under
Speaker 1: a lot of pressure more and more companies to private takeovers,
Speaker 1: to listings in the US. And then at the same
Speaker 1: time we're seeing actually very few new listings happening on
Speaker 1: this London Exchange. And you know, for example, Schroders, which
Speaker 1: was also one of the oldest companies in the UK,
Speaker 1: was also acquired by a US firm earlier this year. Actually,
Speaker 1: so the London Stock Exchange is now losing another one
Speaker 1: of its oldest members. But if we look at what
Speaker 1: that means for Tetanlow specifically, it seems that it's going
Speaker 1: quite well. You know, the shares are jumping stone. It
Speaker 1: seems that investors are quite keen on this deal. It's
Speaker 1: worth noting that the shares are still trading below the
Speaker 1: offer value, and some analysts are noting that there might
Speaker 1: be some issues with regulatory approval, that this might not
Speaker 1: be a given. So for this as well, we'll be
Speaker 1: watching out for developments.
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Speaker 4: Mm hmm