1 00:00:02,520 --> 00:00:07,440 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 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,360 --> 00:00:17,959 Speaker 1: Well, let's take a look at some stocks on the 5 00:00:18,000 --> 00:00:20,720 Speaker 1: move today in Europe. I'm Stephen Carroll with Caroline Hepger 6 00:00:20,760 --> 00:00:23,000 Speaker 1: and we're joined by Bloomberg reporter Chloe Melee. 7 00:00:23,040 --> 00:00:23,880 Speaker 2: Chloe, good morning. 8 00:00:24,040 --> 00:00:26,000 Speaker 1: Let's start with some m and a news in the 9 00:00:26,000 --> 00:00:30,080 Speaker 1: European banking sector. UniCredit making a bid for commerce Bank. 10 00:00:30,640 --> 00:00:34,040 Speaker 3: Yeah, this UniCredit Commas Bank saga that started in late 11 00:00:34,080 --> 00:00:36,760 Speaker 3: twenty twenty four had gone a little bit quiet recently, 12 00:00:37,080 --> 00:00:40,000 Speaker 3: but now it's very much back. So UniCredit, as you said, 13 00:00:40,000 --> 00:00:42,720 Speaker 3: has made a thirty five billion euro takeover bid for 14 00:00:42,920 --> 00:00:45,960 Speaker 3: Commas Bank, although it is not expected that it would 15 00:00:45,960 --> 00:00:49,519 Speaker 3: gain full control, but essentially just push that stake above 16 00:00:49,680 --> 00:00:52,159 Speaker 3: thirty percent. And as we remember, it is not the 17 00:00:52,200 --> 00:00:54,440 Speaker 3: first time that UniCredit has tried to get that deal 18 00:00:54,520 --> 00:00:57,760 Speaker 3: done with Commos Bank. The CEO at first disclosed the 19 00:00:57,800 --> 00:01:00,640 Speaker 3: stake in the bank in twenty twenty four, and then 20 00:01:00,680 --> 00:01:03,080 Speaker 3: he went on to expand that stake more and more. 21 00:01:03,240 --> 00:01:06,320 Speaker 3: But throughout this entire time, the German government has been 22 00:01:06,560 --> 00:01:09,680 Speaker 3: really opposed to a takeover by UniCredit and has made 23 00:01:09,720 --> 00:01:12,880 Speaker 3: it very clear. And since then, the commers Bank share 24 00:01:12,880 --> 00:01:16,039 Speaker 3: price has risen a little bit more strongly than UniCredit, 25 00:01:16,080 --> 00:01:19,560 Speaker 3: which is making a bit more expensive. But since the 26 00:01:19,600 --> 00:01:22,039 Speaker 3: beginning of this year of twenty twenty six, commers Bank 27 00:01:22,800 --> 00:01:24,760 Speaker 3: has struggled a little bit more. It's one of the 28 00:01:24,800 --> 00:01:28,399 Speaker 3: worst performers in that European banking sector and that might 29 00:01:28,440 --> 00:01:31,160 Speaker 3: have led to UniCredit to try and pounce once again. 30 00:01:31,959 --> 00:01:34,240 Speaker 3: Right now, UniCredit shares are down at a little bit. 31 00:01:34,240 --> 00:01:37,120 Speaker 3: Of commerce Bank shares rose also actually quite a bit 32 00:01:37,160 --> 00:01:38,920 Speaker 3: on the back of that deal, but we'll just have 33 00:01:39,040 --> 00:01:41,080 Speaker 3: to wait and see if this happens this time. 34 00:01:41,959 --> 00:01:46,240 Speaker 4: Yeah, okay, so that on the UniCredit commas Bank deal, 35 00:01:46,520 --> 00:01:48,680 Speaker 4: I mean it, it's sort of notable, isn't it. At 36 00:01:48,680 --> 00:01:50,960 Speaker 4: a time as such flux in markets that you're seeing 37 00:01:51,120 --> 00:01:56,080 Speaker 4: potentially a major banking m and a bit of activity. 38 00:01:56,200 --> 00:02:01,640 Speaker 4: There's also some buzz about another merger acquisition Amplify. 39 00:02:02,280 --> 00:02:04,960 Speaker 3: Yeah, yeah, there's been. It's actually been quite a busy 40 00:02:05,120 --> 00:02:07,800 Speaker 3: m and a day this morning. So it's a similar 41 00:02:07,840 --> 00:02:11,040 Speaker 3: dynamic here with Amplophon and gin Store Nord, which where 42 00:02:11,040 --> 00:02:13,200 Speaker 3: we see the shares in the target rising and then 43 00:02:13,200 --> 00:02:16,440 Speaker 3: shares in the acquirer falling, though here the movements are 44 00:02:16,440 --> 00:02:19,960 Speaker 3: actually even wilder. So gin Store Nord shares a surge 45 00:02:20,040 --> 00:02:22,960 Speaker 3: more than forty percent, which was actually the most on record, 46 00:02:23,360 --> 00:02:25,959 Speaker 3: after it had agreed to sell its hearing aid business 47 00:02:26,000 --> 00:02:28,280 Speaker 3: to Ampliphon, and that is a deal that is valued 48 00:02:28,280 --> 00:02:31,040 Speaker 3: at about two point six billion a dollar. So that 49 00:02:31,080 --> 00:02:34,240 Speaker 3: deal will make Amplifon a much larger competitor in that 50 00:02:34,360 --> 00:02:37,480 Speaker 3: hearing aid business, which is an area that where a 51 00:02:37,480 --> 00:02:39,840 Speaker 3: lot of bigger players are trying to get into it, 52 00:02:39,840 --> 00:02:44,640 Speaker 3: so Eslo Luxotica for example. But the Ampliphon stock actually 53 00:02:44,639 --> 00:02:47,079 Speaker 3: felt quite a lot on the back of this announcement, 54 00:02:47,160 --> 00:02:49,320 Speaker 3: and some of it it might have to do with 55 00:02:49,360 --> 00:02:52,960 Speaker 3: the costs related to the acquisition. So it estimates integration 56 00:02:53,040 --> 00:02:56,160 Speaker 3: costs of around eighty million euros in the next two 57 00:02:56,240 --> 00:02:58,320 Speaker 3: to three years, and that might have been actually the 58 00:02:58,360 --> 00:03:01,639 Speaker 3: focus for investors explaining of that weakness in the shares 59 00:03:01,639 --> 00:03:02,160 Speaker 3: this morning. 60 00:03:02,560 --> 00:03:06,400 Speaker 1: Yeah, indeed, shows down over six percent today. And let's 61 00:03:06,440 --> 00:03:10,519 Speaker 1: bring you then to the defense sector next and handsold. 62 00:03:10,600 --> 00:03:11,880 Speaker 1: What's the news from them this morning. 63 00:03:12,280 --> 00:03:14,800 Speaker 3: Yeah, there's a couple of things Driving handsold this morning, 64 00:03:14,840 --> 00:03:17,080 Speaker 3: so it was raised to a hold rating by KEPRA 65 00:03:17,160 --> 00:03:21,920 Speaker 3: Shover analysts. There's also a cooperation agreement between Hensolt and 66 00:03:22,000 --> 00:03:26,480 Speaker 3: Ammovio to open up career opportunities for Amovia employees, so 67 00:03:26,600 --> 00:03:29,760 Speaker 3: essentially kind of creating a pipeline for employees in the 68 00:03:29,800 --> 00:03:32,600 Speaker 3: auto industry, which has been, as we know, quite struggling 69 00:03:32,639 --> 00:03:35,680 Speaker 3: quite a bit, to transition into the defense industry where 70 00:03:35,720 --> 00:03:38,680 Speaker 3: there's definitely a lot more demand and a lot more activity. 71 00:03:39,440 --> 00:03:42,240 Speaker 3: And then it's also a handsol is also benefiting from 72 00:03:42,240 --> 00:03:45,880 Speaker 3: that broader defense trade of course, which has obviously been 73 00:03:46,080 --> 00:03:49,040 Speaker 3: very relevant over the last few weeks as the conflict 74 00:03:49,080 --> 00:03:52,000 Speaker 3: in the Middle East shows really no sign of abating. 75 00:03:52,120 --> 00:03:55,240 Speaker 3: So we've seen other names in that sector also in 76 00:03:55,280 --> 00:03:58,240 Speaker 3: the green this morning, including Ryan Mettal and Rent Group. 77 00:03:58,320 --> 00:04:01,160 Speaker 3: And you know, we've entered the third week now of 78 00:04:01,200 --> 00:04:04,000 Speaker 3: that conflict. There's really no clarity on win. Trump will 79 00:04:04,040 --> 00:04:05,760 Speaker 3: be ready to call the end of it, given he's 80 00:04:05,800 --> 00:04:09,640 Speaker 3: the person in the best position really to stop that conflict, 81 00:04:09,640 --> 00:04:13,120 Speaker 3: to bring it to an end. But in the in meanwhile, 82 00:04:13,120 --> 00:04:16,880 Speaker 3: the defense is really benefiting from this given the expectation 83 00:04:17,000 --> 00:04:19,600 Speaker 3: that they will need to be more military spending, more 84 00:04:19,640 --> 00:04:23,599 Speaker 3: defense spending in the geopolitical environment that is so tense 85 00:04:23,640 --> 00:04:24,280 Speaker 3: at the moment. 86 00:04:24,960 --> 00:04:29,000 Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with 87 00:04:29,080 --> 00:04:31,640 Speaker 2: us throughout the day for the latest roundup of companies 88 00:04:31,720 --> 00:04:34,800 Speaker 2: making news on Wall Street and for the latest market 89 00:04:34,839 --> 00:04:39,279 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 90 00:04:39,400 --> 00:04:42,880 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 91 00:04:42,960 --> 00:04:44,440 Speaker 2: the Bloomberg Business app.