1 00:00:02,520 --> 00:00:07,000 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 --> 00:00:16,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data to. 4 00:00:16,920 --> 00:00:22,600 Speaker 1: Break down each individual Stop Moving Today is Blueberg's Markets Today. 5 00:00:22,640 --> 00:00:25,360 Speaker 1: Reporter Kit Reese, Good to have you with me today. 6 00:00:25,440 --> 00:00:30,159 Speaker 1: Telecometalia calling time on their capital structure. Kit, Can you 7 00:00:30,200 --> 00:00:33,680 Speaker 1: explain what a savings share is? 8 00:00:34,159 --> 00:00:36,960 Speaker 3: Yes, So this is a special kind of share which 9 00:00:37,120 --> 00:00:40,600 Speaker 3: was introduced in the nineteen seventies in Italy, and it 10 00:00:40,640 --> 00:00:44,159 Speaker 3: basically prioritizes income for the holders, so the holders get 11 00:00:44,200 --> 00:00:47,279 Speaker 3: higher dividends, but they don't have any voting rights. So 12 00:00:47,440 --> 00:00:51,480 Speaker 3: Telecometalia is looking to simplify its capital structure by eliminating 13 00:00:51,520 --> 00:00:54,360 Speaker 3: this type of share class, which would also make it 14 00:00:54,400 --> 00:00:57,959 Speaker 3: simpler for investors to understand. It's been able to do 15 00:00:58,000 --> 00:01:00,360 Speaker 3: this because it recently won a court case against the 16 00:01:00,400 --> 00:01:03,720 Speaker 3: Italian government where it got a one billion euro windfall, 17 00:01:04,000 --> 00:01:06,440 Speaker 3: so it'll be able to kind of make this transaction 18 00:01:06,640 --> 00:01:09,120 Speaker 3: to eliminate the share class. So it could also have 19 00:01:09,200 --> 00:01:11,559 Speaker 3: other benefits that could boost liquidity in the stock because 20 00:01:11,600 --> 00:01:13,800 Speaker 3: it makes it just a cleaner structure, and it could 21 00:01:13,800 --> 00:01:15,920 Speaker 3: also lower admin costpics and we have all these different 22 00:01:16,000 --> 00:01:19,200 Speaker 3: kinds of share class and today the shares rose three 23 00:01:19,200 --> 00:01:21,440 Speaker 3: point seven percent, but they I think they have turned 24 00:01:21,560 --> 00:01:23,840 Speaker 3: slightly lower now. I mean, it's not surprising given that 25 00:01:23,959 --> 00:01:26,800 Speaker 3: it's Telecomatalia. Shares have gained more than one hundred percent 26 00:01:26,800 --> 00:01:29,279 Speaker 3: this year, which is a really big rise on plans 27 00:01:29,280 --> 00:01:32,119 Speaker 3: to invest in data center infrastructure. So it's not been 28 00:01:32,280 --> 00:01:36,560 Speaker 3: the biggest of reactions. But also the whole thing will 29 00:01:36,560 --> 00:01:38,640 Speaker 3: have to be put to shareholders at the end of January, 30 00:01:38,680 --> 00:01:41,360 Speaker 3: so it's not a done thing, but we'll have to 31 00:01:41,400 --> 00:01:42,520 Speaker 3: see how it pans out. 32 00:01:42,480 --> 00:01:46,840 Speaker 1: Okay, So that's interesting on Telecommetalia. Meanwhile, we've been seeing 33 00:01:46,920 --> 00:01:52,040 Speaker 1: this significant run up in bullion gold prices hating a 34 00:01:52,080 --> 00:01:55,640 Speaker 1: record high, even topping the high that we saw in October, 35 00:01:56,080 --> 00:01:58,600 Speaker 1: and this is having a big impact on mining stocks. 36 00:01:58,800 --> 00:02:02,760 Speaker 3: Yes, it's an absolutely Ferocia's rally this year. So gold's 37 00:02:02,800 --> 00:02:05,600 Speaker 3: gone above four four hundred dollars in ours and it's 38 00:02:05,600 --> 00:02:08,760 Speaker 3: boosting the companies that get it out of the ground. 39 00:02:09,080 --> 00:02:11,640 Speaker 3: So for Snillo, shares are higher and that the game 40 00:02:11,680 --> 00:02:13,880 Speaker 3: this year is actually now at four hundred and thirty 41 00:02:13,880 --> 00:02:18,600 Speaker 3: six percent, which is enormous and basic resources sector overall 42 00:02:18,720 --> 00:02:23,360 Speaker 3: is the top performing sector this morning. So basically there's 43 00:02:23,400 --> 00:02:26,720 Speaker 3: a lot of these increased rate cup bets which make 44 00:02:26,760 --> 00:02:30,560 Speaker 3: gold look more attractive given it doesn't yield anything, so 45 00:02:30,560 --> 00:02:32,560 Speaker 3: if there's lower rates that it just looks, you know, 46 00:02:32,600 --> 00:02:35,000 Speaker 3: as a better kind of bet. And it's also up 47 00:02:35,000 --> 00:02:38,200 Speaker 3: on geopolitics. We've got these sort of rumblings in Venezuela 48 00:02:38,280 --> 00:02:41,240 Speaker 3: and in Ukraine, so this is kind of boosting its 49 00:02:41,280 --> 00:02:44,480 Speaker 3: safe haven appeal. And also we've got copper which is 50 00:02:44,520 --> 00:02:49,120 Speaker 3: heading towards twelve thousand dollars a ton. It's kind of 51 00:02:49,160 --> 00:02:51,880 Speaker 3: been driven on these sort of tighter tight supply in 52 00:02:51,919 --> 00:02:55,200 Speaker 3: the long term demand picture. Its use also in AI 53 00:02:55,280 --> 00:02:57,919 Speaker 3: and kind of new technologies has boosted it, and it's 54 00:02:57,919 --> 00:03:01,120 Speaker 3: also boosting shares and companies such as a Rubus and 55 00:03:01,160 --> 00:03:03,840 Speaker 3: Glencore this morning. So it's been a really strong showing 56 00:03:03,880 --> 00:03:05,760 Speaker 3: for metals and for minors. 57 00:03:05,960 --> 00:03:09,119 Speaker 1: Yeah. Absolutely, I mean, goals of sixty eight percent into 58 00:03:09,120 --> 00:03:13,480 Speaker 1: twenty twenty five is agreeing, isn't it. Meanwhile, Harbor, which 59 00:03:13,560 --> 00:03:17,560 Speaker 1: is a big UK ail companies looking abroad why. 60 00:03:17,680 --> 00:03:20,240 Speaker 3: Yeah, So this is really interesting because Harbor has been 61 00:03:20,280 --> 00:03:23,079 Speaker 3: really focused on the north Sea. But we're seeing these 62 00:03:23,080 --> 00:03:25,320 Speaker 3: fields at home going into decline, and there's also the 63 00:03:25,320 --> 00:03:28,120 Speaker 3: windfall tax that these companies have to grapple with. So 64 00:03:28,320 --> 00:03:31,880 Speaker 3: it's buying a company called LG Exploration for three point 65 00:03:31,919 --> 00:03:34,760 Speaker 3: two billion dollars and it's which it will give it 66 00:03:34,800 --> 00:03:37,120 Speaker 3: exposure to the Gulf of Mexico and be able to 67 00:03:37,200 --> 00:03:41,040 Speaker 3: kind of diversify its portfolio. It's made a previous deals. 68 00:03:41,080 --> 00:03:44,320 Speaker 3: It bought winter shol deer assets in South America and Africa, 69 00:03:44,720 --> 00:03:46,920 Speaker 3: so it kind of follows its strategy to branch out 70 00:03:46,920 --> 00:03:50,680 Speaker 3: beyond the North Sea. And I mean oil has been 71 00:03:50,920 --> 00:03:52,960 Speaker 3: the price of oil, which has fluctuated. It's been kind 72 00:03:52,960 --> 00:03:56,240 Speaker 3: of a challenge for these companies in terms of their shares. 73 00:03:56,840 --> 00:03:59,480 Speaker 3: It's down. Harbor Energy shares are down twenty two percent 74 00:03:59,520 --> 00:04:01,640 Speaker 3: this year, so you know, a little bit of a 75 00:04:01,680 --> 00:04:04,040 Speaker 3: deal could kind of boost it and give it a 76 00:04:04,080 --> 00:04:05,960 Speaker 3: bit more of an expanded presence. 77 00:04:07,320 --> 00:04:11,560 Speaker 2: The Stockmover's Report from Bloomberg Radio. Check back with us 78 00:04:11,600 --> 00:04:14,400 Speaker 2: throughout the day for the latest roundup of companies making 79 00:04:14,480 --> 00:04:18,080 Speaker 2: news on Wall Street and for the latest market moving headlines. 80 00:04:18,279 --> 00:04:22,320 Speaker 2: Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg 81 00:04:22,360 --> 00:04:25,440 Speaker 2: Dot com and on Applecarplay and Android Auto with the 82 00:04:25,440 --> 00:04:26,839 Speaker 2: Bloomberg Business App.