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 00:00:16,800 --> 00:00:18,440 Speaker 3: Let's take a look at some stocks on the mood 5 00:00:18,480 --> 00:00:21,480 Speaker 3: today in Europe. I'm Jacksondents with Caroline Hepker. We're joined 6 00:00:21,480 --> 00:00:24,720 Speaker 3: by Bloomberg reporter Chloe Malay. Morning Chloe. Right, So let's 7 00:00:24,800 --> 00:00:28,120 Speaker 3: start with Sainsbury's delays to their sale of our goss 8 00:00:28,160 --> 00:00:29,840 Speaker 3: but still a positive share price move. 9 00:00:29,960 --> 00:00:30,120 Speaker 4: Yeah. 10 00:00:30,320 --> 00:00:33,040 Speaker 1: So Sainsbury's ended talks with Data dot Com over the 11 00:00:33,320 --> 00:00:35,279 Speaker 1: cell of Argos this weekend, and it seems like it 12 00:00:35,320 --> 00:00:37,600 Speaker 1: was quite a quick reversal. So there was a statement 13 00:00:37,640 --> 00:00:39,800 Speaker 1: on the talks on Saturday, and then on Sunday a 14 00:00:39,920 --> 00:00:42,760 Speaker 1: statement saying that the terms and commitments from JD dot 15 00:00:42,800 --> 00:00:45,680 Speaker 1: Com would not be in the best interests of shareholders. 16 00:00:46,200 --> 00:00:48,199 Speaker 1: Argos has been a little bit of a drag on 17 00:00:48,240 --> 00:00:51,440 Speaker 1: Sainsbury's over the last few years, but recently it's actually 18 00:00:51,479 --> 00:00:54,560 Speaker 1: been performing a little bit better. So the opinion among 19 00:00:54,560 --> 00:00:57,120 Speaker 1: analysts and investors is that a Celle would make a 20 00:00:57,160 --> 00:00:59,959 Speaker 1: lot of sense, but that this particular offer from JAJA 21 00:01:01,000 --> 00:01:04,440 Speaker 1: was not enough At the moment. The strategic rationale for 22 00:01:04,480 --> 00:01:06,920 Speaker 1: the cell is there, according to analysts, because it would 23 00:01:06,959 --> 00:01:10,000 Speaker 1: allow Sainsbury's to refocus on food, which is really the 24 00:01:10,040 --> 00:01:14,280 Speaker 1: core segment, and it will also address investor concerns around 25 00:01:14,959 --> 00:01:18,360 Speaker 1: around earning's volatility because the argoss business is quite a 26 00:01:18,360 --> 00:01:21,560 Speaker 1: cyclical business as well. So the rejection of this particular 27 00:01:21,600 --> 00:01:24,319 Speaker 1: offer was taken quite well by investors and shares were 28 00:01:24,400 --> 00:01:26,200 Speaker 1: up this morning on the back of that with the 29 00:01:26,240 --> 00:01:29,760 Speaker 1: expectation now that Sainsbury's will be only selling at a 30 00:01:29,800 --> 00:01:30,319 Speaker 1: good price. 31 00:01:31,240 --> 00:01:36,080 Speaker 4: Interesting. Meanwhile, Austed, we've been talking a lot about this 32 00:01:36,200 --> 00:01:41,119 Speaker 4: wind business selling shares, but there's an issue for investors 33 00:01:41,120 --> 00:01:43,040 Speaker 4: about how low the shares are being sold. 34 00:01:43,160 --> 00:01:45,600 Speaker 1: Yeah, it's kind of another day, another Austed story. We've 35 00:01:45,640 --> 00:01:48,360 Speaker 1: been talking a lot about it. It dropped this morning 36 00:01:48,400 --> 00:01:50,520 Speaker 1: after it's said that it plans to sell new shares 37 00:01:50,560 --> 00:01:53,560 Speaker 1: at a sixty seven percent discount of Friday's closed. 38 00:01:53,560 --> 00:01:54,520 Speaker 3: So this is the. 39 00:01:54,560 --> 00:01:57,920 Speaker 1: Terms of the nine point four billion dollar rights issue 40 00:01:57,960 --> 00:02:00,680 Speaker 1: that also first announced it in August, and that is 41 00:02:00,720 --> 00:02:03,480 Speaker 1: meant to shore up its finances. So the success of 42 00:02:03,520 --> 00:02:06,520 Speaker 1: that right's offering is crucial because it could maybe allow 43 00:02:06,600 --> 00:02:09,080 Speaker 1: it to turn turned the page on a crisis that 44 00:02:09,120 --> 00:02:12,040 Speaker 1: has lasted for a really long time that got really 45 00:02:12,320 --> 00:02:15,840 Speaker 1: much worse with Trump's arrival in the White House given 46 00:02:15,919 --> 00:02:20,679 Speaker 1: his aversion to offshore wind. The company's two biggest sholders 47 00:02:21,360 --> 00:02:24,040 Speaker 1: already said that they would back the offering, and if 48 00:02:24,080 --> 00:02:27,079 Speaker 1: the capital raise is successful, it will mean that investors 49 00:02:27,120 --> 00:02:30,760 Speaker 1: believe that there's the possibility for growth for Instead going forward. 50 00:02:31,080 --> 00:02:33,560 Speaker 3: And another name contending with a sagging share price at SAAB. 51 00:02:34,000 --> 00:02:35,919 Speaker 3: What's behind their move this morning? 52 00:02:36,440 --> 00:02:38,920 Speaker 1: So Sabia, the Swedish defense company. It is down on 53 00:02:39,000 --> 00:02:42,480 Speaker 1: reports that India will not be buying its Grippen fighter jets, 54 00:02:42,520 --> 00:02:44,800 Speaker 1: which would have been a massive order for SAB obviously, 55 00:02:45,520 --> 00:02:50,720 Speaker 1: so apparently India is buying Rafoul fighter jets from Dessa Aviation, 56 00:02:50,840 --> 00:02:54,639 Speaker 1: the French company instead. SAB has struggled to get countries 57 00:02:54,680 --> 00:02:58,320 Speaker 1: interested in its Grippen fighter jets. It won a really 58 00:02:58,320 --> 00:03:01,400 Speaker 1: big order from Brazil in twenty fourteen, in obviously a long, 59 00:03:01,720 --> 00:03:03,480 Speaker 1: long long time ago, and then there was a bit 60 00:03:03,480 --> 00:03:07,360 Speaker 1: of a drought up until Thailand and Columbia decided to 61 00:03:07,400 --> 00:03:11,520 Speaker 1: make those purchases. So having that setback there with India 62 00:03:11,560 --> 00:03:12,880 Speaker 1: is obviously quite important. 63 00:03:13,160 --> 00:03:19,040 Speaker 2: PSALM the Stock Movers report from Bloomberg Radio. Check back 64 00:03:19,080 --> 00:03:21,320 Speaker 2: with us throughout the day for the latest roundup of 65 00:03:21,360 --> 00:03:24,640 Speaker 2: companies making news on Wall Street and for the latest 66 00:03:24,680 --> 00:03:28,880 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 67 00:03:28,919 --> 00:03:32,680 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 68 00:03:32,680 --> 00:03:34,640 Speaker 2: Auto with the Bloomberg Business app.