Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: But let's take a look at some stops on the
Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined
Speaker 3: by Bloomberg's Breaking These editor Louise Moon.
Speaker 1: Louise, good morning.
Speaker 3: So let's start with the most important deal of the day,
Speaker 3: and that's because it's about ice cream rather than anything else.
Speaker 3: The Magnum ice cream spinoff has started trading.
Speaker 1: Tell us more it is it has it has well.
Speaker 4: It's also the world's biggest ice cream company, so you
Speaker 4: know it's a big deal. It was valued at seven
Speaker 4: point eight billion euros this morning, had it. So this
Speaker 4: is its market debut today after spinning off from Unilever.
Speaker 4: So that's listing. It's a triple listing. So it's in Amsterdam,
Speaker 4: London and New York. So shares an AMSAM opened at
Speaker 4: twelve euros twenty and then they've ticked higher, so do
Speaker 4: quite well.
Speaker 1: This morning in their first listing.
Speaker 4: It's an interesting one in terms of Unilever simplifying their portfolio.
Speaker 4: The ice cream unit's been underperforming for years. It's been
Speaker 4: their least profitable division, so last year they decided they
Speaker 4: were going to separate it. So it's been a long
Speaker 4: ongoing process, a long ongoing process that was also then
Speaker 4: delayed by the US government shutdown, but it's now finally happening,
Speaker 4: and the aim now is kind of to revive its
Speaker 4: performance as a stand alone business, focus on boosting growth.
Speaker 4: They've set sales growth targets of up to five percent
Speaker 4: from next year, which is kind of broadly in line
Speaker 4: with the wider market. So unless it's saying that, you know,
Speaker 4: there are positives in the sense that their management team
Speaker 4: is quite well regarded, they're saying that the company can
Speaker 4: reinvest in growth and boost themselves as a standalone company,
Speaker 4: but also kind of cautioning that there are some challenges
Speaker 4: as well. You know, consumers are a bit more health
Speaker 4: conscious now there's weight loss drugs which.
Speaker 1: Are kind of totally changing the industry.
Speaker 4: It's also quite a capital inte of business, so it'll
Speaker 4: be one to keep an eye on to see how
Speaker 4: it does. But they're debut listing doing quite well this morning.
Speaker 1: Yeah, I'll have to see. Also, Sorry, I was going
Speaker 1: to say we have see also how it does in
Speaker 1: New York when it opens later today.
Speaker 3: Indeed, because we've got three share listings to stuck out
Speaker 3: for and not just to not just one thing to
Speaker 3: be watching this morning. Share is currently trading at twelve
Speaker 3: eighty six in Amsterdam and you and leave A shares
Speaker 3: have turned positive now too. Let's focus on another story
Speaker 3: from the UK though, Smith and Nephew making some waves
Speaker 3: with their latest Top Day talkers through the market reaction.
Speaker 1: Indeed, Yeah, a lot of updates from them this morning.
Speaker 4: So they've outligned a new growth strategy as they've they've
Speaker 4: finished a previous one and they've outliged their next one.
Speaker 4: They've updated guidance for this year. They say they're on
Speaker 4: track to hit guidance and then they've updated it to
Speaker 4: include a higher free cash flow, and they've also set
Speaker 4: fresh targets for the future for twenty twenty eight. So
Speaker 4: shares are taking higher on this whole host of news.
Speaker 4: This is the head of their They've got a capital
Speaker 4: market day later today where they'll present all of this
Speaker 4: to investors, particularly their new strategy. So essentially that's aiming
Speaker 4: to simplify their range, simplify their their product range and
Speaker 4: reduce the need for you know, more capital, more more inventory.
Speaker 4: It didn't kind of didn't give much specifics, so we'll
Speaker 4: have to see if that comes out of that capital
Speaker 4: markets they and also we'll have to see how shares
Speaker 4: then react once investors have that news. You know, investors
Speaker 4: have kind of been questioning relatively recently its ability to
Speaker 4: accelerate growth further. So once this kind of starts to
Speaker 4: happen and they get more details, it'll be interesting to
Speaker 4: watch that share price. But at the moment taking slightly
Speaker 4: higher into the green on the back of that strategy change.
Speaker 1: Okay, one to.
Speaker 3: Watch up one point six percent of the moment. Let's
Speaker 3: talk oil next in France and total Energy.
Speaker 1: What have we learned from them.
Speaker 4: Yes, so they have agreed to combine their UK oil
Speaker 4: and gas business with Repsol and Hittech Vision. So it's
Speaker 4: it's essentially the latest bit of consolidation in the North Sea.
Speaker 4: You know, outputs dwindling in the North Sea. There's also
Speaker 4: the windfall tax, so producers have quite a lot to
Speaker 4: contend with. So there's been a lot of consolidation in
Speaker 4: the space on the back of that. So this is
Speaker 4: the latest deal as you say, so Total Energy. So
Speaker 4: they're going to buy almost of fifty percent holding in
Speaker 4: a company called neon X, which is a joint venture
Speaker 4: between Repsol and hit Up Vision. And essentially, you know,
Speaker 4: the wider plans as many of these producers doing, is
Speaker 4: to slash costs through economies of scale. This is a
Speaker 4: quite a good analyst quote this morning. So yeah, it
Speaker 4: shares from Total Energies traded down slightly or repsolts were
Speaker 4: up slightly in Madrid. So there's deals set to go
Speaker 4: through during the first half of next year. And yeah,
Speaker 4: as I say, the latest in kind of waving forsolidation
Speaker 4: in the.
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