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Let's take a look at some of the stocks on the move today in Europe. I'm Jas Wilkock with Caroline Hecker, and we're joined by Bloomberg reporter Clay mate Chloe. Let's start with Delivery Hero. It's in the spotlight this morning after Uber raised its steak in the company. Essay, how are investors taking that?
Yeah, so we are getting closer to Uber buying Delivery Hero. So there was a takeover offer over the weekend there would value Delivery Hero at about ten billion euros. And then last night, as you said, we had Uber raising its stake in the company, essentially buying out the shares in Delivery Hero that were held by Aspects Management, which is an activist investor that has successfully lobbied to get
rid of the CEO. Uber was already the biggest shareholders, is now even bigger, although it's right below currently the threshold that is necessary for a mandatory offer to be triggered, and so that actually lays the groundwork for a deal but interestingly, we are seeing some weakness in delivery or shares this morning after what has been a very strong month of May for the company. So there might be
some concerns potentially about the deal itself. You know, Uber may need to obtain some antitrust approvals in some of the various markets where Delivery Hero operates if it wants to continue increasing that shareholding in the event of a deal. It might also be about the price. You know, the takeover offer offered no premium to the most recent share price in Delivery Hero. But in any case, we are seeing some weakness today in that company.
Okay, so that on Uber Now an upgrade for Laureal. What's happening with the cosmetics the beauty business.
Yeah, it's apparently going very well well according to Berenberg
at Lee. So barren Berg Andlis have upgraded Lorel to by rating, saying that a growth is returning to historical levels for the company and that inflationary pressures are quite manageable despite the consumer uncertainty that of course we've been talking about because of the war in Iran, and so they have quite a positive outlook overall on the beauty industry, saying that younger consumers are really wanting a lot more skincare for example, that there is a rising middle class
in some emerging markets, which is also a big boost as well. And they said that the consumer staple sector as a whole had been a snub really for no good reason, and so Lorel would be actually quite well positioned to take advantage of some of those market dynamics. And Loreal has already been outperforming some of its peers recently. And we also know that the deal between es Silda and Pooge has fallen apart, and so that means that
the threat of a big rival is now gone. So it seems that there's actually good news all around for Laura Alan. So up this morning on the back of that upgrade.
Yeah. Interesting reading around that story, I learned a new word for the beauty industry. Do you know this, James, I worried dupes Apparently missed serums and dupes other things that people are by a dupe being an affordable version or a duplicate of a kind of luxury item. So that apparently, in the cost of living crisis is what you need for your beauty regime.
They go a new word, your Stephen Carroll Dupe for the week. Finally, Chloe, this is a semiconductive material maker from France whose name I admit I've not heard before, so forgive me for Swetek. What is driving gains there?
Yes, Sweatech. I pronounces Swetek earlier, which is really wrong given that I'm French, so I should I should say Sweatic. So it is a French semiconductive materials company. Had very strong results out today, so revenue came in ahead of expectations. It also projected very strong revenue for the current quarter and that has led to a big surge in the chares this morning, and it was also brought the eye to day rally in the shears to about six hundred
and fifty percent. So that's a company that's been doing really, really well throughout this year. So it's one of the big beneficiaries of this continued enthusiasm around chip makers and chip making equipment firms that we've seen really across the world. That's driven of course by the AI rush, but then also a recovery in some and markets like automotive and
market in the industrial and market as well. Some analysts did point out to a bit of a week outlook for the rest of the year, though, so some of that weakness might start to come through a little bit later down the line. And you know, when expectations are that high, when the market is kind of so excited, it's usually kind of a major cliff to fall off of. So we'll have to keep watching out for swatch.
The Stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube tube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.
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