Stock Movers Beazley Dips, B&M Rises, Telenor Down
Jan 22, 2026
Louise Moon, a Bloomberg breaking news editor known for her expertise in market analysis and corporate developments, dives into the financial landscape. She discusses Beazley’s significant rejection of Zurich’s takeover offer, deeming it undervalued. B&M’s struggles lead to a guidance cut as turnaround costs mount, but there's a glimmer of hope with signs of recovery. Telenor's strategic move to sell its stake in True Corp for $3.9 billion highlights a shift back to their Nordic roots. Tune in for insightful market trends!
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Beazley Says No To Zurich Offer
- Beazley rejected Zurich's £7.7bn bid as materially undervaluing the firm and stressing standalone prospects.
- The offer marked a 56% premium and sparked a 30% jump when disclosed, then fell ~7% after rejection.
Turnaround Costs Hit B&M Profits
- B&M cut earnings guidance due to costs from its turnaround plan, including clearing inventory and investing in prices.
- Management sees longer-term improvement but the near-term profit outlook fell from £520m to up to £475m.
Small Sales Beat Offers Hope
- Same-store sales fell less than expected, offering an early positive sign amid the turnaround pressures.
- Shares initially dropped but later ticked slightly into the green on that hint of recovery.