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Let's have a look at some stocks on the move today here in Europe. I'm Caroline Hepko alongside Guy Johnson, and we're joined by Bloomberg reporter Louise Moon. Good morning. Defense stocks are moving on the back of a note from Goldman Sachs.
Yes, so there's a note overnight from Goldman and essentially reinstating a buy across a bunch of defense companies across Europe. So the likes of bae Ry Mattau, Mulrow's Industries, Rolls Royce and a bunch of others, essentially saying that they think the sector has transformed, this, in their words, from a sluggish and undervalued sector to one that's the central
focus and one of Europe's fastest growing sectors. So they noticed in particular new technology AI nation states driving spending so in particular Germany, and the fact that defense stocks are appearing in a lot more sustainability funds. So they said that even though valuations already on record high, you know, we've seen these companies, these companies stocks soaring over the past year and longer, so is the growth outlooks, so
they're essentially expecting that to continue growing. So yeah, they stoped arising on the news, not huge gains, but strongest gains by Rolls Royce and then they did they It is worth noting they did also reinstate a sell on Dasalt Aviation, noting that they kind of need you need a more nuanced approach to stock selection. So it was a really interesting note from them. It kind of reinstates what's what's being thought about for the defense sector anyway.
But yeah, a strong note from them on the back of that.
It's intually there's a big tussle at the moment that's so trying to take control of the next generation fighter that France and Germany are producing together shooting. The air bus is also tacking higher today on the back of news that could later come from this Trump sheet call that actually could see some Boeing orders.
We've got an IPO in Zurich, indeed, Swiss Marketplace Group, which as the name's Jess is an online marketplace backed by General Atlantic. They had their debut today doing well, so trading above the offer price, about nine percent higher than off the price, which was forty six Swiss francs a share, which is interesting and good news for the company itself, but it indicates kind of stronger demand. It's the first in a series of IPOs that are expected
across Europe. We've got Varija which is also planning listing in Switzerland and that will be if it all comes to frush in that be yuro it's largest listing in three years. So this is the first in a series and it's indicating strong demand. And yeah, trading high this morning, so a good debut from them.
Okay, so that's an ipo. What about the chemicals company Croda.
A really interesting one. So yesterday, about an hour or so before market close or late afternoon, there was a disclosure that an American investment management company had an over five percent stake in Croda, which is the chemical supplier's blue chip in London. The stock rose on that most in nearly five months, and it's continuing those gains today.
And the reason it seems the reason that this seems to be is because the investment management company that took the stake, they also just in twenty twenty two, they disclosed a stake in Johnson Mattie, which is in the same industry, and they later pushed Johnson Mattie to do a strategic review, and then of course it was sold later on to Honeywell. So potentially a bit of speculation
that they could force through similar change. And if you look back at quda's share price, if you take away yesterday's gains, they've lost almost forty percent so far year to date taking away the gains yesterday, so potentially not surprising if they do push for a review, So we'll be keeping an eye on that one.
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