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Let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll with Caroline Hepger and we're joined by Bloomberg Spriggini's editor Louise Moon.
Louise, good morning.
So we're starting with an impressive debut for Asta Energy.
Indeed, this is an electrical power equipment firm, so essentially they make products that are copper based for the energy transition, so very strategically important at the moment, and you can see that being fed through into the demand for their IPOs. The IPO was fifteen times oversubscribed, so really shows how.
Much demand there was for that.
And then, as you say, they've debut today in Frankfurt and shares are soaring though, up as much as forty six percent this morning. So offer price was twenty nine nine fifty euros a share and they opened at forty three euros a share, so doing really well in their debut over in Germany.
And then in.
Terms of kind of the wider listing, context in Europe, it follows a few big listings that you know, the years.
Started off quite well.
We had CSG in Amsterdam about a week ago that was one of Europe's largest in years. So it's another bit of a success story. But as I say, this is kind of really based around the demand for copper products and the energy to transition as the world you know, moves more towards electric vehicles and the likes of that.
Yeah, absolutely so as the energy solutions. Meanwhile, speaking of our stocks to watch, we have swatched what's start of interest.
So to watch shares rising rose the most since October this morning. That's after a upbeat growth outlook. So they've had a bit of a rebound in demand in the second half of twenty twenty five. Following what has been a difficult Periodwatch has been grappling with a lot of weakness in China, a key market, also declining exports to
the US after tariffs. Of course, Trump imposed initially imposed thirty niner cent tariffs on imports from Switzerland that was since reduced to fifteen percent, but still above kind of historic Hyes, So this Swatch has been grappling with a lot of this and you can see that in their shares.
Their shares have really fallen.
In value and they're now among one of the most shorted stocks on the wider European benchmark. But this morning things were looking more upbeat, and this is saying that it's showing encouraging revenue trends, a healthy improvement, and that's overshadowing what was actually a miss on operating profits. So more positive, more positivity ahead, and that's being the real focus.
I'm chuckling, Stephen, because I've actually, you know, somewhere in a drawer. I'm sure I have a swatch from the nineties eighties.
Possibly is it's back in.
Straight to vnted with the Yuka and heat to look at the value of that. Let's Louise just round off then with a look at experience. Their shares up three point four percent at the moment.
In London, Yes, another good story this morning. They're leading foot TEO hundred I say, shares up. They announced eight a billion dollar buy back. They say they're trading strongly. They expect to end the year in what they call a favorable leverage position, so that buyback will finish by the end of June twenty twenty seven, and shares are up on that news.
It marks a bit of a turnaround.
Their shares actually fell to a two year low earlier this week. They are kind of traditionally usually quite a favorite stock among analysts, but investors have said, or we're saying are saying, that they are going to suffer as
AI automates credit scoring. So they're considered among some analysts to be an AI loser in one of the analysts words, but announced that by back this morning, shares up, and I mean, you know, if you look at their ratings, the consensus they still got twenty buys compared to two cells and consensuses is nearing five four point six four among annas, so so high ratings still and that buyback news this morning the.
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