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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's have a look at some of the stocks on the move today here in Europe. I'm Caroline Hepkar with Tom mackenzie and we're joined by our reporter Clomer Lake. Good morning. The Dutch insurer Egon confirming that it's moving its headquarters to the US. Has this made a big ripple in markets?
Yeah, well it has sent the shears down quite a bit this morning. There's actually a lot happening for Eggon that announced this morning. So as you mentioned, moving the headquarters and also the legal domicile over to the US and also rebranding as trans America. It's also unveiled new midterm targets, a new buybeck of four hundred million euros and also a strategic review of the UK unit which could potentially result in a divestment.
So this move is not really coming out of the blue, you know.
This is something that has been on the table for quite some time, and it had announced a review this summer of its listing and potentially moving its headquarters, and it does generate a majority of its profit from the US, so it does make sense. But then we did have a big share price drop this morning, so that would indicate that investors are not super super keen on those massive changes. Perhaps that's because of how much that will cost. So the company expects to incur about three hundred and
fifty million euros in costs to twenty twenty eight. And then some analysts have also reflected that maybe the announcement on payout, so that four hundred million euro buyback is also a little disappointing. So there's a lot to digest and maybe some of that share price movement will will stabilize over the next cooming days as this is a little bit more digested by investors and analysts.
Okay, So from Aigon and the insurance space to Semen's Energy, what's the story of Semen's Energy.
A couple of things happening for Semens Energy as well today.
So we had an activist investor pushing for a review and the potential spin off of the wind operations, which has been a part of Semens Energy that has been under a little bit more pressure recently. So the activist investor said that the unit was a little bit more volatile, also a lower margin than some of the other businesses within Semens Energy, and that a spinoff would really help that company refocus on gas power and grid power as well.
And then in addition to that, we also had a positive read across from Jivanova over in the US, which doubled its dividend and also boosted its forecast.
So that spells quite good news for.
The electrification sector, which of course has been benefiting from the energy demand from AI and also kind of grid expansion across the world. So both of those things, the activist investor and that positive read across have really lifted those shares for Semens Energy today. And by the way, it has been having a really good year. We're up one hundred and forty percent a year to date, and so we it's definitely a continuation of what's already been a very positive trajectory.
Hmm. Okay, so that's interesting now Ferrari, not the f one, not Lewis Hamilton's first season with them, But let's think about the Alyss view of the company.
Yeah, maybe a little bit less interesting, bit more dry, but it is down this morning after being downgraded by ODO, and that is just a couple of days after being downgraded by Morgan Stanley. So the problem that analysts have with Ferrari is that the company is voluntarily reducing volumes to kind of boost desirability for its models. So of course that ensures that Ferrari retains that exclusivity that it's known for, but it also means quite limited growth in
the short and medium term. And there's also a lot of investor concern around the launch of the company's first electric vehicle.
Which is coming next year.
So we still have a large majority of by ratings on Ferrari, but those couple of downgrades are really weighing on that stock, and that's really raising questions about the catalysts moving forward.
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