1 00:00:02,520 --> 00:00:08,680 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,480 --> 00:00:17,880 Speaker 3: But let's take a look at some stops on the 5 00:00:17,920 --> 00:00:20,319 Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:20,320 --> 00:00:22,640 Speaker 3: by Bloomberg's Breaking These editor Louise Moon. 7 00:00:22,680 --> 00:00:23,759 Speaker 1: Louise, good morning. 8 00:00:24,239 --> 00:00:27,600 Speaker 3: So let's start with the most important deal of the day, 9 00:00:27,680 --> 00:00:30,040 Speaker 3: and that's because it's about ice cream rather than anything else. 10 00:00:30,440 --> 00:00:34,120 Speaker 3: The Magnum ice cream spinoff has started trading. 11 00:00:34,240 --> 00:00:36,960 Speaker 1: Tell us more it is it has it has well. 12 00:00:37,040 --> 00:00:39,280 Speaker 4: It's also the world's biggest ice cream company, so you 13 00:00:39,280 --> 00:00:41,560 Speaker 4: know it's a big deal. It was valued at seven 14 00:00:41,560 --> 00:00:44,040 Speaker 4: point eight billion euros this morning, had it. So this 15 00:00:44,080 --> 00:00:47,800 Speaker 4: is its market debut today after spinning off from Unilever. 16 00:00:48,040 --> 00:00:51,400 Speaker 4: So that's listing. It's a triple listing. So it's in Amsterdam, 17 00:00:51,560 --> 00:00:54,760 Speaker 4: London and New York. So shares an AMSAM opened at 18 00:00:54,920 --> 00:00:59,800 Speaker 4: twelve euros twenty and then they've ticked higher, so do 19 00:01:00,200 --> 00:01:00,880 Speaker 4: quite well. 20 00:01:00,640 --> 00:01:03,440 Speaker 1: This morning in their first listing. 21 00:01:04,720 --> 00:01:09,440 Speaker 4: It's an interesting one in terms of Unilever simplifying their portfolio. 22 00:01:09,840 --> 00:01:12,440 Speaker 4: The ice cream unit's been underperforming for years. It's been 23 00:01:12,480 --> 00:01:15,679 Speaker 4: their least profitable division, so last year they decided they 24 00:01:15,680 --> 00:01:17,200 Speaker 4: were going to separate it. So it's been a long 25 00:01:17,280 --> 00:01:20,600 Speaker 4: ongoing process, a long ongoing process that was also then 26 00:01:20,680 --> 00:01:24,640 Speaker 4: delayed by the US government shutdown, but it's now finally happening, 27 00:01:24,680 --> 00:01:27,080 Speaker 4: and the aim now is kind of to revive its 28 00:01:27,080 --> 00:01:29,520 Speaker 4: performance as a stand alone business, focus on boosting growth. 29 00:01:29,520 --> 00:01:32,639 Speaker 4: They've set sales growth targets of up to five percent 30 00:01:32,680 --> 00:01:34,720 Speaker 4: from next year, which is kind of broadly in line 31 00:01:34,800 --> 00:01:38,640 Speaker 4: with the wider market. So unless it's saying that, you know, 32 00:01:39,040 --> 00:01:41,320 Speaker 4: there are positives in the sense that their management team 33 00:01:41,360 --> 00:01:44,280 Speaker 4: is quite well regarded, they're saying that the company can 34 00:01:44,360 --> 00:01:47,480 Speaker 4: reinvest in growth and boost themselves as a standalone company, 35 00:01:47,480 --> 00:01:50,240 Speaker 4: but also kind of cautioning that there are some challenges 36 00:01:50,280 --> 00:01:53,040 Speaker 4: as well. You know, consumers are a bit more health 37 00:01:53,080 --> 00:01:56,800 Speaker 4: conscious now there's weight loss drugs which. 38 00:01:56,560 --> 00:01:58,560 Speaker 1: Are kind of totally changing the industry. 39 00:01:58,760 --> 00:02:00,800 Speaker 4: It's also quite a capital inte of business, so it'll 40 00:02:00,800 --> 00:02:01,960 Speaker 4: be one to keep an eye on to see how 41 00:02:02,000 --> 00:02:05,480 Speaker 4: it does. But they're debut listing doing quite well this morning. 42 00:02:05,840 --> 00:02:07,920 Speaker 1: Yeah, I'll have to see. Also, Sorry, I was going 43 00:02:07,960 --> 00:02:09,320 Speaker 1: to say we have see also how it does in 44 00:02:09,320 --> 00:02:10,720 Speaker 1: New York when it opens later today. 45 00:02:10,840 --> 00:02:12,840 Speaker 3: Indeed, because we've got three share listings to stuck out 46 00:02:12,880 --> 00:02:14,639 Speaker 3: for and not just to not just one thing to 47 00:02:15,120 --> 00:02:17,240 Speaker 3: be watching this morning. Share is currently trading at twelve 48 00:02:17,520 --> 00:02:20,360 Speaker 3: eighty six in Amsterdam and you and leave A shares 49 00:02:20,360 --> 00:02:23,880 Speaker 3: have turned positive now too. Let's focus on another story 50 00:02:23,880 --> 00:02:26,760 Speaker 3: from the UK though, Smith and Nephew making some waves 51 00:02:26,800 --> 00:02:29,160 Speaker 3: with their latest Top Day talkers through the market reaction. 52 00:02:29,639 --> 00:02:32,080 Speaker 1: Indeed, Yeah, a lot of updates from them this morning. 53 00:02:32,120 --> 00:02:35,640 Speaker 4: So they've outligned a new growth strategy as they've they've 54 00:02:35,680 --> 00:02:38,200 Speaker 4: finished a previous one and they've outliged their next one. 55 00:02:38,320 --> 00:02:41,360 Speaker 4: They've updated guidance for this year. They say they're on 56 00:02:41,400 --> 00:02:43,480 Speaker 4: track to hit guidance and then they've updated it to 57 00:02:43,520 --> 00:02:46,160 Speaker 4: include a higher free cash flow, and they've also set 58 00:02:46,200 --> 00:02:48,920 Speaker 4: fresh targets for the future for twenty twenty eight. So 59 00:02:48,960 --> 00:02:51,720 Speaker 4: shares are taking higher on this whole host of news. 60 00:02:51,760 --> 00:02:53,239 Speaker 4: This is the head of their They've got a capital 61 00:02:53,280 --> 00:02:55,760 Speaker 4: market day later today where they'll present all of this 62 00:02:55,840 --> 00:03:00,320 Speaker 4: to investors, particularly their new strategy. So essentially that's aiming 63 00:03:00,400 --> 00:03:03,520 Speaker 4: to simplify their range, simplify their their product range and 64 00:03:03,600 --> 00:03:07,760 Speaker 4: reduce the need for you know, more capital, more more inventory. 65 00:03:07,760 --> 00:03:10,600 Speaker 4: It didn't kind of didn't give much specifics, so we'll 66 00:03:10,600 --> 00:03:12,960 Speaker 4: have to see if that comes out of that capital 67 00:03:13,000 --> 00:03:15,160 Speaker 4: markets they and also we'll have to see how shares 68 00:03:15,200 --> 00:03:19,519 Speaker 4: then react once investors have that news. You know, investors 69 00:03:19,520 --> 00:03:23,400 Speaker 4: have kind of been questioning relatively recently its ability to 70 00:03:23,760 --> 00:03:28,600 Speaker 4: accelerate growth further. So once this kind of starts to 71 00:03:28,600 --> 00:03:31,200 Speaker 4: happen and they get more details, it'll be interesting to 72 00:03:31,200 --> 00:03:33,720 Speaker 4: watch that share price. But at the moment taking slightly 73 00:03:33,760 --> 00:03:36,400 Speaker 4: higher into the green on the back of that strategy change. 74 00:03:36,560 --> 00:03:37,360 Speaker 1: Okay, one to. 75 00:03:37,280 --> 00:03:39,600 Speaker 3: Watch up one point six percent of the moment. Let's 76 00:03:39,600 --> 00:03:42,040 Speaker 3: talk oil next in France and total Energy. 77 00:03:42,080 --> 00:03:43,160 Speaker 1: What have we learned from them. 78 00:03:43,480 --> 00:03:47,440 Speaker 4: Yes, so they have agreed to combine their UK oil 79 00:03:47,480 --> 00:03:50,720 Speaker 4: and gas business with Repsol and Hittech Vision. So it's 80 00:03:50,800 --> 00:03:56,000 Speaker 4: it's essentially the latest bit of consolidation in the North Sea. 81 00:03:56,800 --> 00:04:00,560 Speaker 4: You know, outputs dwindling in the North Sea. There's also 82 00:04:00,600 --> 00:04:02,920 Speaker 4: the windfall tax, so producers have quite a lot to 83 00:04:02,920 --> 00:04:05,920 Speaker 4: contend with. So there's been a lot of consolidation in 84 00:04:06,080 --> 00:04:08,120 Speaker 4: the space on the back of that. So this is 85 00:04:08,160 --> 00:04:10,040 Speaker 4: the latest deal as you say, so Total Energy. So 86 00:04:10,120 --> 00:04:13,640 Speaker 4: they're going to buy almost of fifty percent holding in 87 00:04:13,960 --> 00:04:15,840 Speaker 4: a company called neon X, which is a joint venture 88 00:04:15,840 --> 00:04:20,200 Speaker 4: between Repsol and hit Up Vision. And essentially, you know, 89 00:04:20,240 --> 00:04:23,120 Speaker 4: the wider plans as many of these producers doing, is 90 00:04:23,120 --> 00:04:28,000 Speaker 4: to slash costs through economies of scale. This is a 91 00:04:28,040 --> 00:04:31,040 Speaker 4: quite a good analyst quote this morning. So yeah, it 92 00:04:31,120 --> 00:04:34,640 Speaker 4: shares from Total Energies traded down slightly or repsolts were 93 00:04:34,800 --> 00:04:38,919 Speaker 4: up slightly in Madrid. So there's deals set to go 94 00:04:39,040 --> 00:04:42,240 Speaker 4: through during the first half of next year. And yeah, 95 00:04:42,360 --> 00:04:45,000 Speaker 4: as I say, the latest in kind of waving forsolidation 96 00:04:45,240 --> 00:04:45,520 Speaker 4: in the. 97 00:04:45,440 --> 00:04:50,920 Speaker 2: Space the Stock Movers Report from Bloomberg Radio. Check back 98 00:04:50,960 --> 00:04:53,159 Speaker 2: with us throughout the day for the latest roundup of 99 00:04:53,240 --> 00:04:56,520 Speaker 2: companies making news on Wall Street and for the latest 100 00:04:56,560 --> 00:05:00,760 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 101 00:05:00,800 --> 00:05:04,520 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 102 00:05:04,560 --> 00:05:06,520 Speaker 2: Auto with the Bloomberg Business app.