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Let's take a look at some of the stocks on the move today here in Europe. I'm Caroline Hepgar with Tom McKenzie and were joined Babloomberg with porter Cloe Malay. Good morning, Chloe. So we are looking at defense stocks this hour after President Trump's latest comments on the Ukraine conflict. Ryan Mattal sort of representative for the industry.
Yeah, and it's doing quite badly this morning, with shares down quite significantly. But as we say, we have seen that weakness across that defense industry in Europe this morning because the prospect of a peace deal in Ukraine is coming closer and closer. So Trump has said that the war at the end of the war is closer than ever, and Zelenski has said that he had reached an agreement
with the US to make security guarantees legal binding. So we'd already seen that those defense shares moving lower yesterday because of those reports that Zelenski was willing to abandon the long term plan for Ukraine to join NATO in exchange for some bilateral security guarantees with the likes of the US in Europe. And today those downward moves are even sharper because of that very enthusiastic, upbeat commentary from Trump, and now the focus is really going to be on
the response from Putin. One sticking point at the moment is that it is around Ukraine given up territory. Trump said that they'd have to, that they'd already lost some of that territory Brazilenski had said that there was no decision that had been made on that, so there still remains some issues to iron now, but there's real progress on this, and it seems that the market is seeing this as a negative for that defense sector and that's really weighing on that industry this morning.
So in a very different space, then keep keeping it. Chile ice cream brand Magnum looking to freeze out Ben and Jerry's chair. You listed this this business. How our investors reacting to that? Not well?
So this is just a week after the listing, after the spinoff for Magnum ice Cream, so there's already a little bit of boardroom drama. So this company, which as you mentioned, was spun off Unilever and started trading just a little over a week ago, is trying to remove
the chair of Ben and Jerry's board. So that's an attempt to really tighten up control on Ben and Jerry's, which is a key a subsidiary, and Magnum had essentially inherited a very complicated relationship that Unilever had with Ben and Jerry's, with Ben and Jerry's accusing Unilever in court a firing as CEO because of disputes over the social mission that Ben and Jerry's wanted to have in saying
that Unilever was not allowing it to do so. So it looks like the tension that started then under Unilever is now continuing under this new structure with that spun off Magnum ice Cream company, and that's weighing on the stock this morning after what has spin actually what was a pretty strong debut.
Okay on Magnum. Meanwhile, IG Group, Why has this trading platform done so well?
Yeah, there's a quite quite strong momentum for that online trading company, and the shes hit a record this morning because it's said that it expects to hit its medium term targets for revenue ahead of schedule in twenty twenty six, and it also extended its buyback, so that indicates really strong momentum. Strong demand for its products also means that it's able to acquire and have a good retention of
customers across some of its different products. And now the next step for i ig Group is going to be crypto. So it's just secured a crypto asset license from the UK Financial Conduct Authority in September, so we'll be enabling that company to expand its crypto offerings in twenty twenty six. That'll be the real focus. And it's also now planning to increase marketing investment in twenty twenty six as well
to accelerate that growth. We'll probably be seeing some ig Group ads on the tube very soon.
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