Why is it rising? Why is it decreasing? Some explanations on the unusual variations which affect shares during the day’s session on European markets. Only when they are reliable and documented: we avoid telling nonsense as much as possible. Variations are taken at the time of writing the article.
Rising
ITV (+8.9%): The British television group could sell some of its units. Rumors indicate that CVC Capital Partners and a major European broadcaster, believed to be TF1, may be interested.
Fluidra (+3%): The Spanish swimming pool manufacturer has reached an agreement to acquire BAC pool systems, a swimming pool cover manufacturer. This acquisition will strengthen Fluidra’s portfolio in Central Europe.
Tikehau Capital (+2%): The asset management company has confirmed that it is considering a listing or a dual listing on the New York Stock Exchange. This strategic approach aims to improve the visibility and attractiveness of the company and its products to international investors.
Rentokil Initial (+2%): The pest control services company announced the appointment of Paul Edgecliffe-Johnson as its new chief financial officer. Formerly of Flutter Entertainment and IHG, Edgecliffe-Johnson will bring significant experience to Rentokil, which continues its growth strategy, particularly in North America. This appointment comes as the current CFO, Stuart Ingall-Tombs, retires after 17 years of service.
Declining
Kingfisher (-12.6%): The British group of DIY stores, owner of Castorama and Brico Dépôt in France, has revised its annual objectives downward following only stable turnover in the third quarter. Despite a resilient performance in August and September, October was impacted by budgetary uncertainties in the UK and France, affecting consumer confidence.
Renk Group (-5%): The supplier of military and civil propulsion systems announced an unexpected change of direction. Susanne Wiegand, the current CEO, requested to end her mandate for personal reasons, and Renk board member Alexander Sagel was appointed as her successor. This leadership transition comes as Renk says it is on track to meet its annual goals after a strong third-quarter performance.
UniCredit / BPM Bank / Commerzbank (-4% / +2% / -5%): The Italian bank has made an offer to acquire Banco BPM, which could strengthen its presence in Northern Italy and generate considerable synergies. This strategic move would allow UniCredit to expand its growth options. The rapprochement with Commerzbank is fading.
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