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: Let's take a look at some of the stocks on
Speaker 3: the move today in Europe. I'm Tima Adabai with Stephen Carroll,
Speaker 3: and we're joined by Bloomberg's Breaking News editor Louise Moon. Louise,
Speaker 3: good morning. Let's start with TKMS. I've been following this
Speaker 3: saga over the last few days. It looks like they're
Speaker 3: teaching the German defense sector that all's fair in love
Speaker 3: and war.
Speaker 1: Well indeed, and shares up as much as twelve percent
Speaker 1: this morning.
Speaker 4: This is on the news that Germany has shelved buying
Speaker 4: six anti marine warships from Ryan Mattal, the other huge
Speaker 4: German defense company, and that deal was the largest procurement
Speaker 4: project in the history of Germany's navy. Instead, they're buying
Speaker 4: eight warships from TKMS. These are significantly smaller warships, so
Speaker 4: it's a smaller overall deal, but boosting, as I say,
Speaker 4: tkms's share price right it out. On the other hand, unsurprisingly,
Speaker 4: shares are down, sinking as much as sixteen percent.
Speaker 1: That's their biggest drop in over a year.
Speaker 4: In terms of, you know, the wider context and questions
Speaker 4: around this, it's in terms of the German government. There's
Speaker 4: questions over you know, their plans, a lack of visibility
Speaker 4: about those plans, how it's allocating its expanded defense budget. Obviously,
Speaker 4: they also pulled out of the Franco German fighter jet
Speaker 4: program two weeks ago, so there's a few questions around that.
Speaker 4: But in terms of today's moves, as I say, TKMS
Speaker 4: rising on the back of that switch in where they're
Speaker 4: procuring those ships from.
Speaker 2: Let's talk next about Sagro rejecting a deal which could
Speaker 2: have been the biggest for a publicly traded European property firm.
Speaker 1: Yeah, really fascinating this one.
Speaker 4: So Sagwa shares have soared on the back of this,
Speaker 4: up as much as twenty percent this morning in London.
Speaker 4: So i'd say they had a takeover approach from a
Speaker 4: US rival, a company called Prologuists, and they've rejected that.
Speaker 4: They've rejected that unequivocally and unanimously in their own words,
Speaker 4: that would have valued it at twelve point six billion pounds. Obviously,
Speaker 4: you know when you first say, kind of logistics and
Speaker 4: warehouses doesn't necessarily sound like the sexiest topic, but it's
Speaker 4: really interesting.
Speaker 1: It comes on this this boom.
Speaker 4: There's been a huge boom in demand for warehouses on
Speaker 4: the back of a rise in online shopping over the
Speaker 4: past number of years, and also this need for data
Speaker 4: centers to support AI, the rise in AI and the
Speaker 4: boom and AI. So Prologust is the world's biggest industrial
Speaker 4: landlord and if it bore, if this deal, you know,
Speaker 4: ever came to fruition, it would extend its presence in
Speaker 4: Europe as Segro is Europe's biggest warehouse owner, and as
Speaker 4: you say, this would have been the biggest deal for
Speaker 4: a publicly traded European property firm. And lit is saying
Speaker 4: that the offer price should should give some reassurance that
Speaker 4: Segro's value is actually more than what's currently reflected in
Speaker 4: its share price, and hence their four shares rising this morning.
Speaker 4: And Segro have always expressed kind of a similar view.
Speaker 4: They came out with a statement not long ago saying
Speaker 4: that the price falls a long way short of their
Speaker 4: own views of their own value. They're comped in their
Speaker 4: own ability to capture that value in the coming years.
Speaker 1: So we'll have to wait and see what happens.
Speaker 4: And if Prologusts make another attempt, they have until July
Speaker 4: twenty second to you know, make a firm offer or
Speaker 4: walk away. But as I say, big moves and share
Speaker 4: price this morning, also boosting other UK real estate companies,
Speaker 4: So the likes of Shaftsbury Capital, Tritax, big Box on
Speaker 4: this AI potential, this sorry, this m and a potential
Speaker 4: in the real estate sector.
Speaker 3: Okay, and lastly to Trains struggling a bit in the
Speaker 3: heat but train Line also suffering an analyst signaling failure.
Speaker 4: Yes, so they announced a new CEO this morning, a
Speaker 4: man called Ian Brown. He'll join from the end of September.
Speaker 4: Most recently he was the boss of Flutter, the gambling
Speaker 4: Giants UK and Ireland unit, and he was both that
Speaker 4: experience and previous experience at booking Dot. He's known for
Speaker 4: you know, having relevant, good experience. He oversaw continued growth
Speaker 4: at Flutter in that unit, bolstered its market position, so
Speaker 4: he's got a good track record. But despite that, shares
Speaker 4: are actually falling this morning, down as much as four percent,
Speaker 4: and List is saying that yes, he brings that leadership experience,
Speaker 4: particularly in consumer and tech, but the company as a
Speaker 4: whole is facing a lot of headwinds and a lot
Speaker 4: of challenges, so he'll have to really tackle those for
Speaker 4: anything good to come of it.
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