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 here in Europe. I'm Caroline Hepget with
Speaker 3: Lizzie Burden. I were joined by a Blueberg reporta clom Lay.
Speaker 3: Good morning. Let's start with vest with Vistory rather, which
Speaker 3: is a UK home builder issuing a profit warning.
Speaker 1: Yeah, yet another one. So it's been quite a tough
Speaker 1: day for Vistry this morning. It's said that it had
Speaker 1: to take measures to try and reduce their and generate cash,
Speaker 1: and so that includes things like discounts on home sales,
Speaker 1: but also delaying the building of some sites as well,
Speaker 1: and so it said that all of those measures would
Speaker 1: hurt profit more than expected in the short term, and
Speaker 1: so that echoes what we've heard from Berkeley, another house
Speaker 1: builder already, when in April it actually revised its outlook
Speaker 1: as well and said that profit would also be weaker
Speaker 1: than anticipated. And that's because of the inflationary pressures triggered
Speaker 1: by the Iran war, which means that we could see
Speaker 1: fewer interest rate cuts and therefore higher more get rate
Speaker 1: ridges for longer And the other problem is also that
Speaker 1: high energy prices mean higher prices for raw materials, so
Speaker 1: housebuilders are essentially getting squeezed from all sides. And if
Speaker 1: we add the political instability that we're seeing in the
Speaker 1: UK right now with Starmer trying and really struggling to
Speaker 1: hold onto his job, that creates even more uncertainty in
Speaker 1: the housing market. And so that spells some really bad
Speaker 1: news for those housebuilders and we've seen that with Vivistry
Speaker 1: this morning.
Speaker 3: Al KOI, you take me to the UK.
Speaker 1: One stock that's doing well is into Tech. Why it's
Speaker 1: warming up to the idea of getting bought and getting
Speaker 1: bought by EQT, so it said this morning and was
Speaker 1: leaning towards recommending a fourth and final takeover offer from
Speaker 1: the private equity firm EQT, and this then offered that
Speaker 1: values into Tech at nine point two billion pounds and
Speaker 1: so Intertech, which is the product testing firm, obviously rejected
Speaker 1: three different bids from EQT, saying that they had undervalued
Speaker 1: the company. But it's outcome under more and more pressure
Speaker 1: recently from some of its biggest shareholders to engage with EQT,
Speaker 1: and so we've seen that happening now. Before the takeover
Speaker 1: Saga started, Into Tech had announced a strategic review. It's
Speaker 1: been struggling actually quite a bit since the end of
Speaker 1: the pandemic, given that demand for its testing services was
Speaker 1: obviously very important during that time, but never really quite recovered.
Speaker 1: But it is now pausing that review and that paves
Speaker 1: the way for being taken private. That's perhaps a wind
Speaker 1: for shareholders, but it does mean that yet another exit
Speaker 1: from the London Stock Exchange that that's probably not good
Speaker 1: use for that stock exchange. Yeah.
Speaker 3: Absolutely, And just lastly on Siemens, what's the latest for them.
Speaker 1: Yeah, they would buy back as much as six billion
Speaker 1: euros of shares after a big surgeon orders, really benefiting
Speaker 1: from demand for factory software for smart building infrastructure. But
Speaker 1: at the same time it did say we really cautious
Speaker 1: on the outlook because of the war and the impact
Speaker 1: of the war on both supply chains and also inflation.
Speaker 1: And so we've seen some weakness in the shares this
Speaker 1: morning because of this cautious outlook, but also because some
Speaker 1: analysts have said that they had actually expected a higher
Speaker 1: number for that buyback, even though it came earlier than expected,
Speaker 1: and so we're seeing a little bit of weakness for Semas.
Speaker 2: This morning the Stock Movers Report from Bloomberg Radio. Check
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