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: But let's take a look at some stocks on the
Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined
Speaker 3: by Bloomberg's Breaking News editor Louise Main and Luis. Good morning.
Speaker 3: We're going to start with the blockbuster debut. It's the
Speaker 3: defense firm CSG, and their shares are currently twenty six percent.
Speaker 1: Yeah, a real performance for them debuting in Amsterdam this morning.
Speaker 1: So they're a maker of armored vehicles and munition, so
Speaker 1: defense company, as you say, chez jumped. That's after they
Speaker 1: raised three point three billion euros in the IPOs that
Speaker 1: already valued it at twenty five billion euros. That marked
Speaker 1: the largest IPO ever globally for a pure play defense firm,
Speaker 1: and the largest in Amsterdam for a decade. So it
Speaker 1: was a big deal. And let's to say that under
Speaker 1: score the defense theme and the demand in the sector
Speaker 1: that we've been seeing as countries pile more money into
Speaker 1: the sector over the past year longer, as well as
Speaker 1: tight IPO availability. So this is kind of one of
Speaker 1: the few that's been happening in Europe over the past
Speaker 1: year or so. The CEO. We had an interview with
Speaker 1: the CEO Bloomberg did, and he said he wasn't surprised
Speaker 1: about the demand. He said the interest was great and
Speaker 1: that wasn't a surprise to him. That's why they only
Speaker 1: did three days of order taking, which is quite a
Speaker 1: short period of time for an IPO. Interestingly, he's only
Speaker 1: thirty three and he raised two point five billion euros,
Speaker 1: which he says he's going to invest by his family office.
Speaker 1: So a good day for him, a good day for CST,
Speaker 1: and a good day for the Amsterdam Stock Exchange.
Speaker 3: Yeah. Indeed, staying with the defense theme, though slightly less
Speaker 3: partsitive storytell around Babcock. Their shaws are currently down one
Speaker 3: point six percent. What's going on?
Speaker 1: Yeah, So they've had a CEO change. So David Lockwood,
Speaker 1: he's retiring at the end of the year. That will
Speaker 1: be after five years with Babcock. He's going to be
Speaker 1: succeeded by a man called Harry Holt who's currently with
Speaker 1: the company. He's head of their nuclear unit. Alissa are
Speaker 1: essentially saying that people liked Lockwood shares when he first
Speaker 1: came in and shares kind of initially struggled, but then
Speaker 1: since then they've been on quite a strong trajectory. He
Speaker 1: had quite a strong affinity with investors. They welcomed a
Speaker 1: lot of his achievements. So that is dragging the share
Speaker 1: price this morning. It's not all negative that they do
Speaker 1: see Holt still as a good appointment. He's meant to
Speaker 1: be known to investors. He's done well in the unit
Speaker 1: that he's been in charge of, in charge of that
Speaker 1: nuclear unit, so he's been seen as quite a sensible
Speaker 1: appointment and someone that should continue Babcock on its trajectory
Speaker 1: that it's been on on it with its successful kind
Speaker 1: of strategy. But I think it seems like the love
Speaker 1: for Lockwood is overshadowing that and also overshadowing Babcock had
Speaker 1: positive results this morning, they said they're on course to
Speaker 1: me expectations, they could even beat them. But this change
Speaker 1: is dragging that share byce down.
Speaker 3: Okay, well no, so let's turn then to Ericsson, another
Speaker 3: company saying its shares jump up eight point three percent
Speaker 3: of the moment.
Speaker 1: Yes, they had their fourth quarter earnings beat forecasts. Earnings
Speaker 1: up about twenty four percent year on year, and they
Speaker 1: also proposed their first ever buy back. This is all
Speaker 1: on the back of efforts to cut costs and boost
Speaker 1: their margins in what has been quite a sluggish telecoms markets.
Speaker 1: This obviously ericson the telecoms firm based in Sweden, it's
Speaker 1: not the only one that's been struggling. It's across the
Speaker 1: whole market. That's on the back of kind of weak demand.
Speaker 1: That had been quite an anticipation of spending on upgrades
Speaker 1: to five gene networks, but that kind of failed to materialize.
Speaker 1: So they've been cutting costs. They've cut about five thousand
Speaker 1: jobs already last year, and the CEO told Bloomberg that
Speaker 1: he'll continue cutting costs at the same rate this year.
Speaker 1: So this is this is benefit benefiting their numbers and
Speaker 1: fishing their share price this morning. They've also on top
Speaker 1: of that, they've tried to kind of find ways to
Speaker 1: capitalize on the boom and AI. Yeah, so shares reacting
Speaker 1: positively to those efforts to boost margins.
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