Nuveen is buying Schroders in a £9.9 billion deal, creating one of the world’s largest active asset managers with nearly $2.5 trillion of assets. Schroders CEO Richard Oldfield told Bloomberg that he will stay on as chief executive of the firm and that the transaction can help Schroders scale. The move ends more than two centuries of independence for the UK’s largest standalone asset manager. Schorders jumped as much as 30% at the open. Elsewhere, EssilorLuxottica and Hermès were among the European companies rising after posting strong sales. While Siemens said they expect the boom in artificial intelligence for industry and to keep fueling its business. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.