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Let's take a look at some stocks on the mood today in Europe. I'm Jacksondents with Caroline Hepker. We're joined by Bloomberg reporter Chloe Malay. Morning Chloe. Right, So let's start with Sainsbury's delays to their sale of our goss but still a positive share price move.
Yeah.
So Sainsbury's ended talks with Data dot Com over the cell of Argos this weekend, and it seems like it was quite a quick reversal. So there was a statement on the talks on Saturday, and then on Sunday a statement saying that the terms and commitments from JD dot Com would not be in the best interests of shareholders. Argos has been a little bit of a drag on Sainsbury's over the last few years, but recently it's actually
been performing a little bit better. So the opinion among analysts and investors is that a Celle would make a lot of sense, but that this particular offer from JAJA was not enough At the moment. The strategic rationale for the cell is there, according to analysts, because it would allow Sainsbury's to refocus on food, which is really the core segment, and it will also address investor concerns around around earning's volatility because the argoss business is quite a
cyclical business as well. So the rejection of this particular offer was taken quite well by investors and shares were up this morning on the back of that with the expectation now that Sainsbury's will be only selling at a good price.
Interesting. Meanwhile, Austed, we've been talking a lot about this wind business selling shares, but there's an issue for investors about how low the shares are being sold.
Yeah, it's kind of another day, another Austed story. We've been talking a lot about it. It dropped this morning after it's said that it plans to sell new shares at a sixty seven percent discount of Friday's closed.
So this is the.
Terms of the nine point four billion dollar rights issue that also first announced it in August, and that is meant to shore up its finances. So the success of that right's offering is crucial because it could maybe allow it to turn turned the page on a crisis that has lasted for a really long time that got really much worse with Trump's arrival in the White House given
his aversion to offshore wind. The company's two biggest sholders already said that they would back the offering, and if the capital raise is successful, it will mean that investors believe that there's the possibility for growth for Instead going forward.
And another name contending with a sagging share price at SAAB. What's behind their move this morning?
So Sabia, the Swedish defense company. It is down on reports that India will not be buying its Grippen fighter jets, which would have been a massive order for SAB obviously, so apparently India is buying Rafoul fighter jets from Dessa Aviation, the French company instead. SAB has struggled to get countries
interested in its Grippen fighter jets. It won a really big order from Brazil in twenty fourteen, in obviously a long, long long time ago, and then there was a bit of a drought up until Thailand and Columbia decided to make those purchases. So having that setback there with India is obviously quite important.
PSALM 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, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.