西门子能源拟售汽轮机业务，Vistry获政府资助，Melrose复产在即

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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.

Let's take a look at some of the stocks on the move today here in Europe. I'm Caroline Hepker with [music] Stephen Carroll, and we're joined by Bloomberg reporter Chloe Melas. Good morning, Chloe. Let's start in Germany with Siemens Energy. Some big private equity players considering bids for its steam turbine business.

Yes, so Siemens Energy is looking to sell a majority stake in its steam turbine business, which is also known as the transformation of industry division. And this is a unit that could be valued at more than 10 billion euros. And some of those private equity players that are considering bids are CVC Capital, EQT, and then also Bain, Brookfield, KKR. So a lot of those players are quite interested in that unit. Um this is part of a sort of refocus for Siemens Energy.

Of course, the gas turbine and grid equipment businesses have been really the main drivers of its performance, of its record order intake that we've seen over the last few quarters. Um those are the divisions that have been really benefiting from this massive AI spending and also the investment in a grid infrastructure across Europe, really. And the steam turbine division is also doing pretty well, but it obviously is quite a different a kind of business from those more power focused units that was just mentioning.

And so it perhaps makes sense to move away from it. Um and this M&A process is driving the shares up this morning. We're seeing quite decent gains for Siemens Energy, and that is extending at what has been a pretty good run for the company so far this year.

Okay, so that's Siemens Energy. Let's go to the home builder Vistry next. Shares rising the most since April. What's behind that?

Yeah, big jump for Vistry this morning. That's because it has announced it had secured 350 million pounds of funding from the social and affordable homes program from the UK government, which is a 39 billion pound program. Um the company said this was the largest award possible in this phase, and it will allow them to build more than 3,000 affordable homes. And so this means uh Vistry it should be a really integral part of uh the ambitions by Andy to really undertake this major uh social house building program.

And for the company that is of course a big relief, although the shares are still down more than 50% uh year to date. Um and it's also a general sign of relief for uh the industry with other names like Persimmon also climbing this morning. Barratt as well was was higher. Um you know, there's been a lot of profit warnings. Those are companies that are dealing with inflationary pressures with raw materials costs uh keep that keep going up.

And so this support from the government is really being taken positively.

Okay, that's interesting. Lastly, Melrose. This is the aerospace engineering group. What's the latest?

Yeah, so Melrose had some trouble earlier this year with an incident at a facility in California. So it had to do with uh an issue that was found in a tank which contained a volatile uh chemical compound, and all of that led to an evacuation. It also reduced the revenue and profit by quite a bit for this year, and that led uh Melrose to pause its buyback program uh last month. And today it actually updated the market saying that operations at this facility should resume by the end of next month.

They also said that it was there was going to be no criminal charges being brought by local authorities, and that it will launch a claims program of a hundred uh million dollars for eligible residents and local businesses. So this update essentially removes a big overhang on the stock. Analyst at RBC said that this uh claims program comes at a significant cost, but that it's a manageable cost and won't have a major impact over the long term for the company.

And so this clarity over what's going to happen over the resumption of those operations is really driving the shares this morning. We're seeing quite a big [music] jump for Melrose.

The stock movers report from Bloomberg Radio. Check back with us throughout the day for the latest [music] roundup of companies making news on Wall Street. And for the latest market moving headlines, [music] listen to Bloomberg Radio live. Catch us on YouTube, bloomberg.com, and on Apple CarPlay and Android Auto with the Bloomberg Business app.