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Let's have a look at the stocks on the move today here in Europe. I'm Caroline Hepgar with Tom McKenzie and we're joined by Bloomberg reporter at Louis Moon Louise. Good morning, Rai matan other European defense stocks are rising because of the progress in Germany on building the bunderswere on spending on the Bundeswear, which of course is the German armed forces.
Indeed, yeah, so Germany is set to approve twenty nine procurement contracts for the military that's next week, and that will be for a record fifty two billion euro, so huge spending from Germany. This is, you know, part of their push to transform the military. You had Chancellor Mertz last night pledging to make it the strongest conventional army in Germany. Obviously, this comes on top of the rise in defense spending that we've been seeing since Russia's invasion
of Ukraine. So as you say, that's benefiting Rai Matau in Germany. B Systems in the UK, SARB and stock coming across the board really in Europe all ticking up into the green on the expectation of benefiting from that that the rise in spending, but particularly that that massive German record contract in.
A different sector, but gains coming through again, which is in the wind, the wind space, that wind energy space, all stead on the rise. And that's after a US federal judge ruled that President Trump's executive world of banning new wind projects is illegal.
Yes, this has really been seeing as a win for renewable energy. So Trump in January he issued a directive effectively halting approvals of wind farms and this so this has been kind of ongoing throughout this whole year, and all Staid in particular in Europe has has really had quite a tumultuous ride of their shares this year on the back of this news. So he halted approve of wind farms, effectively freezing dozens of projects all around the UK.
So clean energy project projects around the US. Sorry, this was then challenged by about a dozen US states as well as a clean energy group, and as you say, overnight the federal judge ruled that that ban was illegal. So you would think obviously that then you know, all said Vestas and both in Copenhagen also others all around Europe, that that will benefit them and they could go ahead with these projects in the US. So both ticking up into the green as well this morning.
Okay, interesting on wind farms. As for Hello Fresh, another German name, the subscription meal company, they're dropping today.
Why so, there was a note out from Morgan Stanley,
and Morgan Stanley have downgraded Hello Fresh. So they're saying that there's intensifying competition in the US in the ready to eat meal space, and so therefore there's a lot more uncertainty about Hellofresh's long trajectory, so potential deterioration in the fourth quarter in particular, but then also ongoing in the long term, so that they're saying that you know this, this risk reward is skew to the downside on that lack of near term catalyst to boost Hello Fresh, and
also saying you know that they need to invest a lot more next year to stabilize their performance. So a downgrade from Morgan Stanley. If you look at now of the analyst ratings, I think we was only only the only analysts for a cell and there's about ten buys and eight hold so a bit of an outlier in that space, but the shares really reacting the back of that. They dropped really heavily open this morning.
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