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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll and I'm joined by Bloomberg's Breaking News editor Louise Moon. Louise, good morning. Let's start with Schneider Electric, their shares rising this morning on the markets.
Indeed, yeah, they've they've laid out a big buy back plans that's up to three point five billion euros through to twenty thirty, so a big sum to announce this morning. They also plan to sell assets equivalent to about one point five billion euros over that same period, and they also set quite ambitious growth plans. So this is all driven by AI and electrifications. They're really benefiting on the
back of that. Essentially, what they do is they provide equipment that's needed to run a lot of these data centers. So yeah, benefiting on the back of this growing demand for those data centers for AI, for electrification. I mean, we already saw it. They had results recently, their latest results they exceeded expectations. So this is just kind of more positive news this morning on the back of that demand. So yeah, this buyback plan being laid out.
Yeah, it shares up three point three percent in Paris at the moment. Let's go to Entain next, the gambling giant, the CFO stepping down after thirteen years indeed.
Yeah, so his name is Rob Wood, so he as you say, with the CFO and also the Deputy CEO, So stepping down next year after thirteen years.
He's going to be.
Replaced by a man called Michael Snape who is currently CFO IDs, which is the parent of Royal Mail obviously recently taken private, so he oversaw that sale and the delisting of IDs. Before that, he was at companies including Tesco, so he's got quite a big track record of big companies in the UK. So he's going to replace Rob
Wood next year. Shares are falling. They're actually the biggest drag on the foot see one hundred this morning potentially because Wood he's been seeing as pretty instrumental for a lot of change that NTAIN has had in recent years. So rapid expansion entry into the US market via a JV with MGM part he was also part of their rebrand in twenty twenty, so potentially that's you know, contributing to those shares falling this morning. It's also kind of
the latest thing that Ntain's got to contend with. They had their former CEO left in February. They've also faced a string of issues, including legal and regulatory challenges more recently, and they're also very recently having to deal now with higher taxes that have come in the budget. So a lot to contend with and at the same time, a switch of leadership right at the top.
Yeah, okay, well, want to keep an eye on Then turning to travel and whiz Air shares are lower this morning.
Yeah, so they have been downgraded to an underperformed by Bank of America. So the analyst is citing two main things. So one is a concern over costs for was Air, and the second one is increased competition, particularly saying that the rival Ryanair is strong competition ins key region of Central and Eastern Europe. So those two key concerns from
the Bank of America analyst. They also at the same time loaded their estimates for twenty twenty six and twenty twenty seven four whizz Air they reiterated at the same time, IAG is their top pick. So shares of WIZ falling on the back of this. And if you look at the analyst ratings they've got at the moment, they've got six buys, twelve holds and seven cells, So potentially a bit of tentative thinking from analysts there and a mixed picture.
So yeah, downgraded from Bank of America, which is pulling down those shares.
This morning in London, the Stock Movers Report 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.