WEBVTT - Unilever Slips, TotalEnergies Dips , Smith and Nephew Climbs 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>But let's take a look at some stops on the

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<v Speaker 3>move today in Europe. I'm Stephen Carroll and I'm joined

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<v Speaker 3>by Bloomberg's Breaking These editor Louise Moon.

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<v Speaker 1>Louise, good morning.

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<v Speaker 3>So let's start with the most important deal of the day,

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<v Speaker 3>and that's because it's about ice cream rather than anything else.

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<v Speaker 3>The Magnum ice cream spinoff has started trading.

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<v Speaker 1>Tell us more it is it has it has well.

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<v Speaker 4>It's also the world's biggest ice cream company, so you

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<v Speaker 4>know it's a big deal. It was valued at seven

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<v Speaker 4>point eight billion euros this morning, had it. So this

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<v Speaker 4>is its market debut today after spinning off from Unilever.

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<v Speaker 4>So that's listing. It's a triple listing. So it's in Amsterdam,

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<v Speaker 4>London and New York. So shares an AMSAM opened at

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<v Speaker 4>twelve euros twenty and then they've ticked higher, so do

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<v Speaker 4>quite well.

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<v Speaker 1>This morning in their first listing.

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<v Speaker 4>It's an interesting one in terms of Unilever simplifying their portfolio.

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<v Speaker 4>The ice cream unit's been underperforming for years. It's been

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<v Speaker 4>their least profitable division, so last year they decided they

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<v Speaker 4>were going to separate it. So it's been a long

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<v Speaker 4>ongoing process, a long ongoing process that was also then

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<v Speaker 4>delayed by the US government shutdown, but it's now finally happening,

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<v Speaker 4>and the aim now is kind of to revive its

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<v Speaker 4>performance as a stand alone business, focus on boosting growth.

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<v Speaker 4>They've set sales growth targets of up to five percent

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<v Speaker 4>from next year, which is kind of broadly in line

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<v Speaker 4>with the wider market. So unless it's saying that, you know,

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<v Speaker 4>there are positives in the sense that their management team

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<v Speaker 4>is quite well regarded, they're saying that the company can

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<v Speaker 4>reinvest in growth and boost themselves as a standalone company,

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<v Speaker 4>but also kind of cautioning that there are some challenges

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<v Speaker 4>as well. You know, consumers are a bit more health

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<v Speaker 4>conscious now there's weight loss drugs which.

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<v Speaker 1>Are kind of totally changing the industry.

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<v Speaker 4>It's also quite a capital inte of business, so it'll

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<v Speaker 4>be one to keep an eye on to see how

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<v Speaker 4>it does. But they're debut listing doing quite well this morning.

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<v Speaker 1>Yeah, I'll have to see. Also, Sorry, I was going

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<v Speaker 1>to say we have see also how it does in

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<v Speaker 1>New York when it opens later today.

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<v Speaker 3>Indeed, because we've got three share listings to stuck out

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<v Speaker 3>for and not just to not just one thing to

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<v Speaker 3>be watching this morning. Share is currently trading at twelve

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<v Speaker 3>eighty six in Amsterdam and you and leave A shares

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<v Speaker 3>have turned positive now too. Let's focus on another story

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<v Speaker 3>from the UK though, Smith and Nephew making some waves

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<v Speaker 3>with their latest Top Day talkers through the market reaction.

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<v Speaker 1>Indeed, Yeah, a lot of updates from them this morning.

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<v Speaker 4>So they've outligned a new growth strategy as they've they've

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<v Speaker 4>finished a previous one and they've outliged their next one.

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<v Speaker 4>They've updated guidance for this year. They say they're on

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<v Speaker 4>track to hit guidance and then they've updated it to

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<v Speaker 4>include a higher free cash flow, and they've also set

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<v Speaker 4>fresh targets for the future for twenty twenty eight. So

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<v Speaker 4>shares are taking higher on this whole host of news.

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<v Speaker 4>This is the head of their They've got a capital

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<v Speaker 4>market day later today where they'll present all of this

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<v Speaker 4>to investors, particularly their new strategy. So essentially that's aiming

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<v Speaker 4>to simplify their range, simplify their their product range and

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<v Speaker 4>reduce the need for you know, more capital, more more inventory.

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<v Speaker 4>It didn't kind of didn't give much specifics, so we'll

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<v Speaker 4>have to see if that comes out of that capital

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<v Speaker 4>markets they and also we'll have to see how shares

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<v Speaker 4>then react once investors have that news. You know, investors

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<v Speaker 4>have kind of been questioning relatively recently its ability to

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<v Speaker 4>accelerate growth further. So once this kind of starts to

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<v Speaker 4>happen and they get more details, it'll be interesting to

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<v Speaker 4>watch that share price. But at the moment taking slightly

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<v Speaker 4>higher into the green on the back of that strategy change.

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<v Speaker 1>Okay, one to.

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<v Speaker 3>Watch up one point six percent of the moment. Let's

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<v Speaker 3>talk oil next in France and total Energy.

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<v Speaker 1>What have we learned from them.

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<v Speaker 4>Yes, so they have agreed to combine their UK oil

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<v Speaker 4>and gas business with Repsol and Hittech Vision. So it's

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<v Speaker 4>it's essentially the latest bit of consolidation in the North Sea.

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<v Speaker 4>You know, outputs dwindling in the North Sea. There's also

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<v Speaker 4>the windfall tax, so producers have quite a lot to

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<v Speaker 4>contend with. So there's been a lot of consolidation in

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<v Speaker 4>the space on the back of that. So this is

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<v Speaker 4>the latest deal as you say, so Total Energy. So

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<v Speaker 4>they're going to buy almost of fifty percent holding in

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<v Speaker 4>a company called neon X, which is a joint venture

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<v Speaker 4>between Repsol and hit Up Vision. And essentially, you know,

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<v Speaker 4>the wider plans as many of these producers doing, is

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<v Speaker 4>to slash costs through economies of scale. This is a

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<v Speaker 4>quite a good analyst quote this morning. So yeah, it

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<v Speaker 4>shares from Total Energies traded down slightly or repsolts were

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<v Speaker 4>up slightly in Madrid. So there's deals set to go

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<v Speaker 4>through during the first half of next year. And yeah,

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<v Speaker 4>as I say, the latest in kind of waving forsolidation

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<v Speaker 4>in the.

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