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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
Now, let's look at some of the stocks on the move today here in Europe. I'm Caroline Hepget and I'm joined by Blueberg reporter Cloim mala Cloy. Good morning. So it's been cult outside, but it might just be the right time for ice cream still. Maybe is it Unilever's Magnum deal.
Yeah, absolutely so.
Magnum ice Cream Company has started trading today in London, Amsterdam and a little bit later in New York. So the spin off of the ice cream unit for the Unilever is now completed. It happened a month later than originally planned because it was pushed back because of the US government has shut down.
So now the focus is really going to be.
On Unilever's prospects as a standalone company, and given how shares fell today for unile but perhaps the investor enthusiasm isn't really there at the moment. And then for Magnum itself, for this new company, they are also challenges of course as well, So there's obviously a growing number of really health conscious consumers, maybe people that don't necessarily want to have ice cream. There's obviously, of course weight loss drugs which limit appetite. And then it's also quite a capital
intensive business. So this is a part of Unilever that was dealing with quite high production costs, quite high storage costs, and that really weighed on margins. That's part of the reason why there was a push to demerge that company.
But now perhaps Magnum can refocus.
The management team is quite well regarded by analysts, and analysts are saying that the company can now really reinvest in growth and really refocus after it really was all about returns and cash under Unilever.
So we'll see how that goes.
But yeah, it's an interesting time of year to be to be listing an ice cream business. Yeah.
Absolutely.
Apparently in the UK, in the factory they make about six hundred million ice creams a year, the vast majority for people here in the UK. So yes, we're still eating the odd Madner, I would argue.
I am, and I am right.
Secondly, Skins Care in the Spotlight with Galderma, I read that this morning. I can't say I know that name. What's the story there?
So Loreal has double this steak in Galderma this morning. So gal Demo is a company that is in skincareess but is known primarily for making injectibles so botox, fillers, et cetera. But then just in the kind of wider dermatology space. So now the steak from Loreal is now twenty percent, So that is doubled from the ten percent that Loreal took last year. So it's really reinforcing that investment in dermatology and trying to gain maybe a stronger
foothold as well in that injectibles market. And Liz have said that the investment makes a lot of strategic sense. You've got one company that has got their leadership in dermatology, and then the other kind of brings that expertise as a leading beauty company. Of course, Loreal being such a big name, Galdamahs were up on the back of that, but Lories are actually down, so it might be because
of Laura has been making so many deals recently. I recently bought a South Korean brand called dr G. It took a majority stake in a UK skincare brand called Medicaid, so perhaps one too many deal for investors at this morning, but for Galdermo was definitely seen as a positive.
Interesting, Maybe is it me or do I relate?
Is it may just be me?
Kate Winslet was talking about injectables and beauty just over the weekend.
I got picked up very widely. I saw did you see that?
Yeah, obviously very beautiful actress saying you know, we should have the natural look was which I thought was interesting. Now, in terms of Monte Pasci, Monte Tepasci reaffirming confidence in its CEO. What about this bank?
Yeah, so it reaffirmed that their confidence kind of reaffirmed its support for the CEO's currently caught in a probe into a takeover of Medio Banker. So Luis gilovaglio Is, who's the CEO, is currently being investigated by prosecutors for allegedly coordinating this Medio Banker acquisition with two big investors. So that probe has really weighed on the shares, but
there seems to be maybe some relief from Montepesci. The market regulator in Italy has ruled out the existence of an undisclosed investor pact that involves PASKI and some of its shareholders in that bid for Medio Banker, So that development and then also the bank reaffirming that support and that confidence in the CEO has been supporting that share price today. So quite a good day for Pesci after a lot of weakness over the last couple of weeks.
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 Andrew writ Auto with the Bloomberg Business app.
Mm hmm