丹麦Jyske银行收购FP Capital，BP任命新董事长

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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 [music] stocks on the move today in Europe. I'm TA Adabio alongside Steven Carroll and we're joined by Bloomberg's breaking news editor Louise Moon. So, let's kick off with the Danish lender Yuska Bank. Their shares are on the rise this morning.

Yes, they have uh there there is a deal that has happened with Yuska Banks. They're buying a wealth manager, also a Danish company called FP Capital. Um the price is undisclosed, but essentially this is Yuska pushing more into asset management, trying to strengthen their position um to target the wealthy. So, FP is one of Denmark's largest independence independent wealth managers. they've got about 40 billion crona um in assets under management.

So that's uh the kind of uh impetus behind that. Uh Yusuke shares rose uh they gained as much as about 1.6% then they actually paired some of those gains uh despite analysts saying you know this is a good fit from that strategic uh perspective. So that's um on on that specific deal and then kind of more widely in Denmark it follows quite a wave of consolidation in that sector. um a lot of the banks have been expanding these type of fee generating businesses.

Um that comes as you know that boost from higher interest rates has been fading. So it's kind of the latest example of that in Denmark.

Okay. So that's Yuska Bank. Let's go to BP next in London and the chairman there in the interim role being confirmed full-time in the job.

Yes. Ian Tyler um confirmed in the job he in terms of his background he's he's been CEO of Balful Beauty before. He worked there for over a decade. He's also currently chair of Grafton, the building supplier company. So, he's going to be their permanent chair. Hopefully, for them, it'll be a period of of some stability after a lot of upheaval um in the boardroom. So, this all comes after BP unexpectedly fired their previous chair, Albert Manifold.

That was in May, and that was after only eight months in the role. He said he was let go without explanation. BP uh had a bit of a different answer. They cited serious concerns over what they called Governor Sandin's oversight and conduct. And then before that, their former CEO also resigned. That was in 2023, over his failure, that was Bernard Looney, his failure to fully disclose a past relationship with colleagues.

So there's been a lot of upheaval. They've now got a new CEO, Meg Neil, relatively new. Um, and now as of today, a a fresh permanent chair. So hopes there for stability, chance to turn things around. The wider context also being how well the the business is doing. has been underperforming for years are under pressure from from Elliot the activist investor. So that will be the focus now to really turn things around with that new management at the helm.

Shares rose um on the back of this about 1.5% and also then similarly also then paired some of those gains because there's I mean there's still a lot of challenges ahead to to turn BP around.

Okay. Shares rising in BP and we're also seeing a move upward for CNC the chemical manufacturing company. Tell us what's driving the jump there. So we've had a report that a host of private equity firms are considering bids for CNC's uh performance and care unit. So a long list of names as the likes of Blackstone, Apollo, Sin, Advent, Bane Capital, all exploring options um and considering those bids. Um it's it was known that that CNC was uh exploring auctions for this unit since May.

So that part of the news is known that it's possibly up for sale. That that's when the CEO announced a strategic review. Um but the new part here being that those private equity firms are all potentially interested and this unit could be valued at €3 billion euros or more. So it would be a big deal if and when it happens. So shares rose um almost 4% on the back of this any disposal would would accelerate uh this overhaul of the portfolio that the CEO um announced as I say and and want and wants to to to do to increase exposure to industries with better long-term growth prospects. to the likes of aerospace, defense, and energy and really focus those efforts there.

So, yeah, a long list of private equity names interested. So, we'll be keeping [music] an eye to see if anything comes to fruition.

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