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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
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 reporter Chloe Mele Chloit. Good morning and happy new year. Let's start with a happy new year for Vestas, their shares gaining this morning. What's behind us?
Yeah, absolutely, it seems that the prospects for that wind industry are improving. Invests will be a big part of that. So JP Morgan analysts have said that the company had probably a lot more orders for wind turbines than expected in the fourth quarter. So that includes both on and offshore projects. It also includes a variety of markets, and it would make it the second consecutive quarter of demand
coming in above expectations for Vestas. So it seems that there is good momentum going there, and it's definitely good news for an industry that's had of really really tough twenty twenty five. We of course, remember in particular the issues that Alsted had over the summer Alsted also has news of its own today. It filed a legal challenge against the move by the Trump administration to suspend the
lease of a wind project. So that's something else as well within that wind industry to be keeping an eye on. But it seems that there is of course still tensions and that the issues with the Trump administration aren't likely to kind of go away easily. But the analyst at JP Morgan talking about as best as specifically, are saying that the fundamentals for the industry are definitely improving and definitely getting better, and so we are seeing those shares gaining this morning for vests.
Is that one that we're watching this morning. Now, we've been talking about how AI is driving markets on this first trading day of the year, and you've picked out a Swedish company that's seeing a big gain in its share price and they provide ventilation and cooling for data centers.
Yeah, well, instead like that doesn't sound super interesting, but it is a very important kind of sector for the AI rush, So muntas as you say, it provides kind of calling technologies, heating technologies, et cetera. And the prospects are looking pretty bright because of their exposure to data centers. So they received a really big order for data center equipment from a company in the US, and it's also
over quite a long period of time. We have a delivery scheduled from the fourth quarter of this year all the way up to twenty twenty eight. And so Muntas is the kind of slightly less well known company that's really benefited from that boom in investments in AIA because it provides that kind of really critical equipment and tools.
And we have other companies, of course, like log Orange nider Electric, which are maybe a little bit more well known, that provide a very similar kind of technologies and tools, and data centers really cannot function without those things. So it's really good business at the moment to be this kind of behind the scene company of the AI rush. And we've seen Mantas shares gain quite a lot recently because of those recent wins in orders.
Okay, and we're looking to a British American tobacco this morning, couldn't you excise duty on cigarettes? Effects there fortunes this year?
Yeah, bat has taken quite a bit of a hit this morning because of its stake in ITC, which is itself taking a big hit. So ITC is India's largest maker of cigarettes, and the shares plunged quite impressively, quite massively after the government decided to impose a new duty on cigarettes, and that new duty would result in a tax hike of over thirty percent. And the reason why the market reaction was so harsh is because that tax burden is much higher than anticipated and ITC is very
vulnerable to it. It gets over forty percent of its revenue from cigarettes, so this new tax wouldn't mean a really big hit on volumes, big on earnings, of course, and it could lead lead to highkend prices of at least fifteen percent to kind of pass on that impact
to consumers. And because BAT is ITC's largest shareholder's shareholder, we've got a stake of about twenty three percent, it means that Beat is quite exposed to the fortunes of ITC, and we're seeing that reflected in some weakness in those shares.
This morning the Stockmovers 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.