Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the mood
Speaker 3: today in Europe. I'm Jacksondents with Caroline Hepker. We're joined
Speaker 3: by Bloomberg reporter Chloe Malay. Morning Chloe. Right, So let's
Speaker 3: start with Sainsbury's delays to their sale of our goss
Speaker 3: but still a positive share price move.
Speaker 4: Yeah.
Speaker 1: So Sainsbury's ended talks with Data dot Com over the
Speaker 1: cell of Argos this weekend, and it seems like it
Speaker 1: was quite a quick reversal. So there was a statement
Speaker 1: on the talks on Saturday, and then on Sunday a
Speaker 1: statement saying that the terms and commitments from JD dot
Speaker 1: Com would not be in the best interests of shareholders.
Speaker 1: Argos has been a little bit of a drag on
Speaker 1: Sainsbury's over the last few years, but recently it's actually
Speaker 1: been performing a little bit better. So the opinion among
Speaker 1: analysts and investors is that a Celle would make a
Speaker 1: lot of sense, but that this particular offer from JAJA
Speaker 1: was not enough At the moment. The strategic rationale for
Speaker 1: the cell is there, according to analysts, because it would
Speaker 1: allow Sainsbury's to refocus on food, which is really the
Speaker 1: core segment, and it will also address investor concerns around
Speaker 1: around earning's volatility because the argoss business is quite a
Speaker 1: cyclical business as well. So the rejection of this particular
Speaker 1: offer was taken quite well by investors and shares were
Speaker 1: up this morning on the back of that with the
Speaker 1: expectation now that Sainsbury's will be only selling at a
Speaker 1: good price.
Speaker 4: Interesting. Meanwhile, Austed, we've been talking a lot about this
Speaker 4: wind business selling shares, but there's an issue for investors
Speaker 4: about how low the shares are being sold.
Speaker 1: Yeah, it's kind of another day, another Austed story. We've
Speaker 1: been talking a lot about it. It dropped this morning
Speaker 1: after it's said that it plans to sell new shares
Speaker 1: at a sixty seven percent discount of Friday's closed.
Speaker 3: So this is the.
Speaker 1: Terms of the nine point four billion dollar rights issue
Speaker 1: that also first announced it in August, and that is
Speaker 1: meant to shore up its finances. So the success of
Speaker 1: that right's offering is crucial because it could maybe allow
Speaker 1: it to turn turned the page on a crisis that
Speaker 1: has lasted for a really long time that got really
Speaker 1: much worse with Trump's arrival in the White House given
Speaker 1: his aversion to offshore wind. The company's two biggest sholders
Speaker 1: already said that they would back the offering, and if
Speaker 1: the capital raise is successful, it will mean that investors
Speaker 1: believe that there's the possibility for growth for Instead going forward.
Speaker 3: And another name contending with a sagging share price at SAAB.
Speaker 3: What's behind their move this morning?
Speaker 1: So Sabia, the Swedish defense company. It is down on
Speaker 1: reports that India will not be buying its Grippen fighter jets,
Speaker 1: which would have been a massive order for SAB obviously,
Speaker 1: so apparently India is buying Rafoul fighter jets from Dessa Aviation,
Speaker 1: the French company instead. SAB has struggled to get countries
Speaker 1: interested in its Grippen fighter jets. It won a really
Speaker 1: big order from Brazil in twenty fourteen, in obviously a long,
Speaker 1: long long time ago, and then there was a bit
Speaker 1: of a drought up until Thailand and Columbia decided to
Speaker 1: make those purchases. So having that setback there with India
Speaker 1: is obviously quite important.
Speaker 2: PSALM the Stock Movers report from Bloomberg Radio. Check back
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