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 of the stocks on
Speaker 3: the move today. Then in Europe, I'm Tia Adabayo with
Speaker 3: Stephen Carroll and we're joined by Bloomberg's Breaking News editor
Speaker 3: Louise Moon. So, Louise, we're going to start in Finland
Speaker 3: and there's some m and a news from the lift
Speaker 3: and escalator company Kone.
Speaker 1: Indeed, yes, so they're buying a company called TK Elevator
Speaker 1: for twenty nine point four billion euros. That's including debt,
Speaker 1: so twenty nine point four billion euros, and that's from
Speaker 1: two private exc firms, Advent and Sinvin. So this is
Speaker 1: one of Europe's biggest ever private XC exits from coone.
Speaker 1: So Cone has been interested for years in buying TK Elevator.
Speaker 1: They tried to buy in twenty twenty in collaboration with CVC,
Speaker 1: and they lost out to Advent and Sinvin. When they
Speaker 1: bought it, then it will be a big deal for
Speaker 1: the company. So the combined group will be nearly double
Speaker 1: Cone's existing size. More than one hundred thousand staff in
Speaker 1: around one hundred countries, headquartered in Finland. And crucially what
Speaker 1: it does is it gives them exposure to the US.
Speaker 1: They currently have about a quarter of their revenue from
Speaker 1: the US and about forty percent in Europe, so it
Speaker 1: will boost that exposure to America which is expected sorry
Speaker 1: that as well as you know, the whole business is
Speaker 1: expected to generate annual sales of over twenty billions, so
Speaker 1: it's a really big deal for them. Gives them a
Speaker 1: lot more exposure, a lot more staff, and just really
Speaker 1: grows the company and shares rising as a result of that.
Speaker 1: So quite a bit higher in early trading.
Speaker 2: So that's on kline in Finland.
Speaker 3: Let's come back to the UK now, Lass is reported
Speaker 3: at the Luxury Carmaker, asked Martin.
Speaker 1: Yeah, so it's quite an interesting one in terms of
Speaker 1: the sher reaction. This morning, shares have actually climbed at
Speaker 1: one point up over about six percent. So this after
Speaker 1: their first qusse of results numbers. Some of the numbers
Speaker 1: came in ahead of expectations and Aston Martin stuck to guidance,
Speaker 1: So it seems that's what analysts are focusing on. You know,
Speaker 1: there's been more sales of top end cars to the
Speaker 1: average selling price increased and there were some comments saying,
Speaker 1: you know, it's good enough. It's going in the right
Speaker 1: direction for Aston Martin. This is despite, as you say,
Speaker 1: losses elsewhere, so there was a pretax loss. Revenue also
Speaker 1: fell short overall deliveries missing expectations, and they've still got
Speaker 1: really high levels of debt, so their debt levels over
Speaker 1: one billion one point four to six billion pounds. This
Speaker 1: is all in the background of Aston Martin. It's been
Speaker 1: struggling for a long time and struggling to turn itself around,
Speaker 1: stuck in first gear, if you will. The billionaire Lawrence
Speaker 1: Schuld took control on twenty twenty. He's been trying to
Speaker 1: rescue it. But essentially it's faced a lot of headwinds.
Speaker 1: They've had products delays, tariffs slow down in China, quality problems,
Speaker 1: a whole host of issues. They've been pulling back on
Speaker 1: spending to try and control this, cutting jobs, putting some
Speaker 1: models on review, but none of this has really been working,
Speaker 1: and so what they've been doing so far is propping
Speaker 1: themselves up by a series of capital raises, and they
Speaker 1: actually announced another one this morning of about fifteen million
Speaker 1: pounds to try and ease that pressure. So they've still
Speaker 1: got a long way to go with this turnaround, but
Speaker 1: essentially shares are rising on the indication that things are
Speaker 1: going in the right direction because some of those numbers
Speaker 1: came in better than expected.
Speaker 3: Okay, so it seems like Aston Martin could be stalling,
Speaker 3: yes again, But moving on to UBS. It's a big
Speaker 3: story we've been talking about this morning. It's among the
Speaker 3: big banking names that are reporting getting a positive reception
Speaker 3: from investors.
Speaker 1: Yes, it is, actually yeah. So they've had their first
Speaker 1: course results. Profits driving ahead essentially, so traders driving those profits.
Speaker 1: So net income beat estimates. Investment banking revenue is up
Speaker 1: almost thirty percent. They've been capitalizing on that volatility as
Speaker 1: you say that we've been seeing across banking earnings on
Speaker 1: the back of the situation in the Middle East and
Speaker 1: the market reaction. XTUS and effects also boosted. And they
Speaker 1: say that client activity for the moment remains healthy, so
Speaker 1: that's kind of reflecting an expectation that there might be
Speaker 1: a solution in the release or will be reached, so
Speaker 1: client activity healthy for the moments. They also say that
Speaker 1: on track to meet a three billion dollar buy back
Speaker 1: target that's for the third quarter, and then they aiming
Speaker 1: to increase those payouts by the year end. So shares
Speaker 1: Hire jumped almost six percent this morning. Did pair gain slightly,
Speaker 1: but the still are higher. And that is also kind
Speaker 1: of despite or in the face of a bit of
Speaker 1: a lack of clarity over regulation. So a debate going
Speaker 1: on in Switzerland over capital requirements and the bank's lobbying
Speaker 1: hard against it. But yeah, traders driving profits and shares
Speaker 1: driving higher.
Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with
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