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 --> 00:00:16,200 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,320 --> 00:00:17,759 Speaker 3: But let's take a look at some stocks on the 5 00:00:17,800 --> 00:00:20,200 Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:20,200 --> 00:00:23,279 Speaker 3: by Bloomberg's Breaking News editor Louise Main and Luis. Good morning. 7 00:00:23,520 --> 00:00:25,759 Speaker 3: We're going to start with the blockbuster debut. It's the 8 00:00:25,800 --> 00:00:31,160 Speaker 3: defense firm CSG, and their shares are currently twenty six percent. 9 00:00:31,640 --> 00:00:35,360 Speaker 1: Yeah, a real performance for them debuting in Amsterdam this morning. 10 00:00:35,440 --> 00:00:37,800 Speaker 1: So they're a maker of armored vehicles and munition, so 11 00:00:37,960 --> 00:00:42,080 Speaker 1: defense company, as you say, chez jumped. That's after they 12 00:00:42,200 --> 00:00:44,839 Speaker 1: raised three point three billion euros in the IPOs that 13 00:00:44,880 --> 00:00:48,440 Speaker 1: already valued it at twenty five billion euros. That marked 14 00:00:48,520 --> 00:00:53,640 Speaker 1: the largest IPO ever globally for a pure play defense firm, 15 00:00:54,000 --> 00:00:57,080 Speaker 1: and the largest in Amsterdam for a decade. So it 16 00:00:57,240 --> 00:00:59,760 Speaker 1: was a big deal. And let's to say that under 17 00:00:59,760 --> 00:01:03,320 Speaker 1: score the defense theme and the demand in the sector 18 00:01:03,320 --> 00:01:06,520 Speaker 1: that we've been seeing as countries pile more money into 19 00:01:06,560 --> 00:01:10,880 Speaker 1: the sector over the past year longer, as well as 20 00:01:11,040 --> 00:01:15,160 Speaker 1: tight IPO availability. So this is kind of one of 21 00:01:15,200 --> 00:01:17,880 Speaker 1: the few that's been happening in Europe over the past 22 00:01:18,360 --> 00:01:21,400 Speaker 1: year or so. The CEO. We had an interview with 23 00:01:21,440 --> 00:01:24,520 Speaker 1: the CEO Bloomberg did, and he said he wasn't surprised 24 00:01:24,800 --> 00:01:27,760 Speaker 1: about the demand. He said the interest was great and 25 00:01:27,959 --> 00:01:30,000 Speaker 1: that wasn't a surprise to him. That's why they only 26 00:01:30,040 --> 00:01:31,920 Speaker 1: did three days of order taking, which is quite a 27 00:01:31,920 --> 00:01:35,560 Speaker 1: short period of time for an IPO. Interestingly, he's only 28 00:01:35,560 --> 00:01:39,160 Speaker 1: thirty three and he raised two point five billion euros, 29 00:01:39,600 --> 00:01:42,039 Speaker 1: which he says he's going to invest by his family office. 30 00:01:42,040 --> 00:01:44,119 Speaker 1: So a good day for him, a good day for CST, 31 00:01:44,280 --> 00:01:46,120 Speaker 1: and a good day for the Amsterdam Stock Exchange. 32 00:01:46,240 --> 00:01:49,120 Speaker 3: Yeah. Indeed, staying with the defense theme, though slightly less 33 00:01:49,160 --> 00:01:52,320 Speaker 3: partsitive storytell around Babcock. Their shaws are currently down one 34 00:01:52,440 --> 00:01:54,120 Speaker 3: point six percent. What's going on? 35 00:01:54,280 --> 00:01:56,760 Speaker 1: Yeah, So they've had a CEO change. So David Lockwood, 36 00:01:56,800 --> 00:01:58,640 Speaker 1: he's retiring at the end of the year. That will 37 00:01:58,680 --> 00:02:02,120 Speaker 1: be after five years with Babcock. He's going to be 38 00:02:02,120 --> 00:02:05,280 Speaker 1: succeeded by a man called Harry Holt who's currently with 39 00:02:05,360 --> 00:02:09,280 Speaker 1: the company. He's head of their nuclear unit. Alissa are 40 00:02:09,360 --> 00:02:14,800 Speaker 1: essentially saying that people liked Lockwood shares when he first 41 00:02:14,800 --> 00:02:16,919 Speaker 1: came in and shares kind of initially struggled, but then 42 00:02:17,080 --> 00:02:20,080 Speaker 1: since then they've been on quite a strong trajectory. He 43 00:02:20,280 --> 00:02:24,880 Speaker 1: had quite a strong affinity with investors. They welcomed a 44 00:02:24,880 --> 00:02:29,080 Speaker 1: lot of his achievements. So that is dragging the share 45 00:02:29,080 --> 00:02:32,240 Speaker 1: price this morning. It's not all negative that they do 46 00:02:32,320 --> 00:02:35,959 Speaker 1: see Holt still as a good appointment. He's meant to 47 00:02:36,040 --> 00:02:39,080 Speaker 1: be known to investors. He's done well in the unit 48 00:02:39,120 --> 00:02:40,440 Speaker 1: that he's been in charge of, in charge of that 49 00:02:40,520 --> 00:02:42,560 Speaker 1: nuclear unit, so he's been seen as quite a sensible 50 00:02:42,600 --> 00:02:48,160 Speaker 1: appointment and someone that should continue Babcock on its trajectory 51 00:02:48,200 --> 00:02:50,600 Speaker 1: that it's been on on it with its successful kind 52 00:02:50,639 --> 00:02:54,600 Speaker 1: of strategy. But I think it seems like the love 53 00:02:54,639 --> 00:02:58,520 Speaker 1: for Lockwood is overshadowing that and also overshadowing Babcock had 54 00:02:58,560 --> 00:03:00,480 Speaker 1: positive results this morning, they said they're on course to 55 00:03:00,520 --> 00:03:03,800 Speaker 1: me expectations, they could even beat them. But this change 56 00:03:03,960 --> 00:03:05,480 Speaker 1: is dragging that share byce down. 57 00:03:05,600 --> 00:03:09,560 Speaker 3: Okay, well no, so let's turn then to Ericsson, another 58 00:03:09,560 --> 00:03:12,000 Speaker 3: company saying its shares jump up eight point three percent 59 00:03:12,080 --> 00:03:12,480 Speaker 3: of the moment. 60 00:03:12,800 --> 00:03:15,920 Speaker 1: Yes, they had their fourth quarter earnings beat forecasts. Earnings 61 00:03:15,960 --> 00:03:18,800 Speaker 1: up about twenty four percent year on year, and they 62 00:03:18,840 --> 00:03:22,440 Speaker 1: also proposed their first ever buy back. This is all 63 00:03:22,480 --> 00:03:26,040 Speaker 1: on the back of efforts to cut costs and boost 64 00:03:26,080 --> 00:03:29,920 Speaker 1: their margins in what has been quite a sluggish telecoms markets. 65 00:03:29,919 --> 00:03:34,760 Speaker 1: This obviously ericson the telecoms firm based in Sweden, it's 66 00:03:34,800 --> 00:03:36,640 Speaker 1: not the only one that's been struggling. It's across the 67 00:03:36,640 --> 00:03:38,920 Speaker 1: whole market. That's on the back of kind of weak demand. 68 00:03:38,960 --> 00:03:43,800 Speaker 1: That had been quite an anticipation of spending on upgrades 69 00:03:43,800 --> 00:03:46,160 Speaker 1: to five gene networks, but that kind of failed to materialize. 70 00:03:46,160 --> 00:03:48,400 Speaker 1: So they've been cutting costs. They've cut about five thousand 71 00:03:48,480 --> 00:03:52,200 Speaker 1: jobs already last year, and the CEO told Bloomberg that 72 00:03:52,240 --> 00:03:54,920 Speaker 1: he'll continue cutting costs at the same rate this year. 73 00:03:55,840 --> 00:04:00,120 Speaker 1: So this is this is benefit benefiting their numbers and 74 00:04:00,120 --> 00:04:02,720 Speaker 1: fishing their share price this morning. They've also on top 75 00:04:02,760 --> 00:04:04,840 Speaker 1: of that, they've tried to kind of find ways to 76 00:04:04,880 --> 00:04:08,440 Speaker 1: capitalize on the boom and AI. Yeah, so shares reacting 77 00:04:08,480 --> 00:04:10,960 Speaker 1: positively to those efforts to boost margins. 78 00:04:12,200 --> 00:04:16,240 Speaker 2: The Stock Movers report from Bloomberg Radio. 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