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Now, let's take a look at some of the stocks on the move today in Europe. I'm Lezie Burden with Stephen Carroll, and we're joined by Bloomberg reporter Chloe Melly. Chloe, Honeywell, don't appear to want to sweeten their deal with Johnson Mathey tell us more.
Yeah, it's actually they've actually done the opposite and have cut the deal price for one of Johnson Mathew's units, which is a division called Catalyst Technologies and makes enzymes for industrial customers. So, Honeywell, I'd been actually considering walking away from that deal, but instead it reached an agreement to pay at one point three billion pounds for the business, which is down actually quite significantly from the original price, which is one point eight a billion pounds which it
had agreed to pay back in May. So that's really hurting the shares in Johnson Mathew this morning, and we're down about fifteen percent last time that I checked, and Johnson Methey said that it expects excuse me to return about one billion pounds two of the sale proceeds as shareholders. But that was not really enough to get investors on board, and to get investors real shored with the news about the Slash deal prize really kind of overshadowing anything else.
But at least honey Well didn't fully walk away. So if we want to be kind of glass half full about this, at least the deal is still going ahead.
Oh please, let's be somewhat optimistic for a month. In morning, Chloe, Let's go then to Italy next. And the energy company anno this morning switching on its investment plans.
Yeah, and the market is reacting very positively to it, and we have shares up quite strongly this morning. So and applies to invest about fifty three billion euros through twenty twenty eight in a bunch of renewable energy projects which include wind power and battery store And so that's about ten billion years higher than the previous plan. And that is part of a strategy of kind of pivoting
more towards mature markets like the US in Europe. And that is after the company had spent quite a long time investing in more Latin American markets instead, and that's not the only company doing this within that utility sector.
A lot of those firms are kind of recalibrating, kind of prioritizing investments in grids and in clean power, but in more advanced economies so that it can benefit from the kind of policy visibility, the stability in policies that you've got in markets like Europe for example, And so that is being reacted to very strong, very positively by the market, and also saying it's targeting a diffident growth of about six percent in that plan through to twenty
twenty eight, so that was also a scene as a positive.
So overall, pretty good day for Enna and Chloe. SAP seems to be having a difficult days trading. What's going on there?
Yeah, Well, big European companies and especially within their tech sector are getting quite rattled by this threat of new tariffs, of course, and Trump pronouncing this fifteen percent global tariff on Saturday after the US Supreme Court ruled that his use of the International Emergency Economic Powers Act to impose
those tariffs in the first place was illegal. So those stocks and the dollar are now falling because of that uncertainty over what the US trade policy is going to be and this is another question mark and another layer of uncertainties for technology companies like SAP, because they've already been having quite a tough month because of those AI concerns, those fears of AI disruptions. So we've got tariff on certainty, a uncertainty. All of that is really weighing on those
big tech companies like SAP. And we've got a Trump's State of the Union address on Tuesday, so we'll see if that provides some clarity or if we see Marcus being thrown deeper into turn one.
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