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Now, let's take a look at some of the stocks on the move today in Europe. I'm Lizzie Burnin with Stephen Carroll and we're joined by Bloomberg's Breaking News editor Louise Moon. Louise, I want to start with the oil majors because obviously they're losing out this morning given the news of a US around peace deal and the subsequent fall and oil prices. Who's really hurting exactly Yea.
So if you look at the likes of Shell BP, those all majors here in London, they're the biggest fallers on the foot seat one hundred as you say, that's obviously on the back of the news with the US and Iran oil's falling already closed last week, get three months, sinking even further this morning, and that's really hitting those major oil companies. And then if you look at the flip side, you've got the likes of travel surging benefiting the travel set. So that's we're seeing this across Europe.
So easy yet too EI, all of those kind of big travel stocks all surging. So we're seeing that divergence there as we've been seeing throughout the war between energy, oil and travel. So yeah, really playing out this morning all the way across Europe.
Well away from events in the Middle East.
You've been looking at shares in buns or the Footsy one hundred listed distribution group shares hired today.
What's driving that?
Yeah, So activist investor Elliott obviously very well known name US activist investor, They've taken a five about about five cent steak in Bunzel. This is kind of their new fresh target. They already have big steaks in BP the London Stock Exchange, so this is their latest steak taken in a UK company. Now, Bunzel. As you say, it's footy one hundred listed, it's relatively under the radar. It's a distributor essentially of a whole host of things from
food packaging to safety equipment, cleaning supplies and more. Essentially, what Elliot wants is for Bunzle to buy back shares equivalent to about ten percent of its market value over the next twelve months. It also wants a strategic review with a focus on North America, which is actually Bunzle's largest market. It doesn't come totally out of the blue. Bunzel had a quite sudden profit warning last April that
was blamed on that North American unit. And I say sudden because it followed almost kind of a three decade streak of continuous dividend growth, So it was quite a sudden profit warning there. The shares when that happened totally slumped. If you look at a graph of their share price, it kind of falls off a cliff when that happened in April, and it hasn't really gained. It's gained some ground since then, but it's not back at levels before then.
So Elliott thinks that, you know, doing this and separating the business could help lift Bunzles valuation. It seems that other shareholders agreed. The stock was up about three percent this morning on the back of venues.
Drawing charts in my mind on the radio, love it, Luis. Let's just finally talk about the French energy tech giant, Schneider Electric, because they look like they're benefiting from the AI buildout.
Yes, indeed, so they have announced collaboration this morning with hon Hi in Taiwan, which is obviously Foxconn, a major electronics manufacturer known for making Apple products and a whole host of things. So they have a collaboration with Schneider. They're going to co develop and scale up next generation AI data centers, so production is going to begin later this year. But yeah, we're kind of two big companies coming together on this, and shares of Schneider up over three percent.
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