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Now, let's take a look at some of the stocks on the move today in Europe. I'm Lizzie Birding with Caroline Hepke. I'm joined by Bloomberg reporter Chloe Melley. Chloe, good morning, Good morning. Let's start and defend, shall we. Brian Mattal seems to be getting that sinking feeling this morning.
Yeah, absolutely, Brin Mettel is very weak this morning after reports that Germany is not planning on buying new warships from that company. So Germany originally wanted to purchase six anti submarine warships and that would have been the largest
procurement project in the history of the German Navy. But now Germany is said to instead by eight much smaller warships from a TKMS instead, And that is because the original project that it had with Brian Mattau had a lot of issues with delays and excess costs, and so it's obviously a big loss for the company in a total of more than a two billion years is said to have already been spent on that project since the
order was placed about six years ago. And this comes also at a time of actually quite a lot of challenges in German defense projects more generally. You know, the government recently pulled out of this Franco German fighter jet program FCAST, and that was only a couple of weeks ago because there was this continued tensions between Airbus and ASO Aviation. So now it's another big reverse or another big delay to a project. And Ryan Mettau is seeing
that really affected chairs this morning. But TKMS is up on the flip side.
Yeah, okay, nimark Segro rejecting what could be the biggest public deal in Europe.
Why yeah, So, Sega is Europe's largest warehouse landlord, so it provides office space, warehouses, and crucially very important segment is data center properties, and that is what makes Segro particularly attractive. And that's why the US real estate investor Prologists, which is by the way, the largest owner of industrial property in the world, had made a twelve point six billion pound offer to buy.
Segro, but Sega has rejected that.
And we are seeing Chez soaring this morning on the back of that, and you know, we are seeing also a lot of its peers actually rising, so try to ex big box shoutsby Capital, Big Yellow, all of those companies in that real estate market are also rising because of this growing m and a interest in that sector. So this is quite an interesting angle on this AI data center story. You know, the companies that own the actual properties that can then be converted into data centers.
So segro is very well positioned for that and it might.
Get an even higher office, so we'll be watching out for developments there.
Finally, Corey one on list giving True Caller and upbeat message.
Yeah.
So, True Caller is a company that allows users to identify unknown numbers and block spam calls and so shares were very strongly this morning after ans SEB Equities upgraded to the company to a by rating, said that the worst is now over for the company after what has been quite a roller coaster in terms of the share price over the last few months, and the analyst said there were signs of growth going forward.
So one of the big.
Issues that True Caller has had is that historically the dominant revenue stream has been advertising, so essentially displaying ads within the True Caller app. But last year, one of the main partners that Caller has introduced an algorithmic change that impacted the AD revenue quite significantly, and so that obstacle had led the shares down, but then that was actually lifted a week or so ago, and so that means that there's now going to be a boost for AD revenue for True Caller.
So that's probably what has led to that upgrade.
There's still other issues, but SEBN lists seem to be quite optimistic about this company's potential.
The stockmover's 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, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.