1 00:00:02,520 --> 00:00:07,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg data. 4 00:00:16,360 --> 00:00:17,840 Speaker 1: Now, let's take a look as up of the stocks 5 00:00:17,880 --> 00:00:20,040 Speaker 1: on the move today in Europe. I'm Lazy Burden with 6 00:00:20,079 --> 00:00:23,919 Speaker 1: Stephen Carroll and were joined by Bloomberg reporter Chloe Melee. Chloe, 7 00:00:24,079 --> 00:00:27,200 Speaker 1: seems like LVMH is not popping the bubble this morning. 8 00:00:27,400 --> 00:00:30,400 Speaker 3: Why yeah, So Trump is hitting the French where it's 9 00:00:30,400 --> 00:00:33,320 Speaker 3: the most, which is Champagne. Of course, Trump said he 10 00:00:33,320 --> 00:00:36,320 Speaker 3: would impose a two hundred percent a tariff on Champagne 11 00:00:36,320 --> 00:00:39,000 Speaker 3: if macon doesn't join his Board of Peace. So for 12 00:00:39,080 --> 00:00:41,240 Speaker 3: a little bit more a detail on this Board of Peace, 13 00:00:41,280 --> 00:00:45,200 Speaker 3: Trump is essentially demanding that nations pay one billion dollars 14 00:00:45,200 --> 00:00:48,880 Speaker 3: for permanent membership of the board, and some European leaders 15 00:00:48,880 --> 00:00:51,800 Speaker 3: have voiced some concerns about that plan, given that it 16 00:00:51,880 --> 00:00:55,920 Speaker 3: appears to place the ultimate decision making power with Trump. 17 00:00:55,960 --> 00:00:59,000 Speaker 3: And so maconn has rejected an invitation to join that 18 00:00:59,080 --> 00:01:01,360 Speaker 3: Board of Peace and has said, well, if you refuse, 19 00:01:01,440 --> 00:01:04,399 Speaker 3: then I'm going to retaliate by targeting your wine and 20 00:01:04,440 --> 00:01:07,679 Speaker 3: your champagne, and LVMH is affected by this given it 21 00:01:07,720 --> 00:01:10,560 Speaker 3: has a big wine and spirits division. It is the 22 00:01:10,640 --> 00:01:13,720 Speaker 3: smallest segment out of everything that it does, but it 23 00:01:13,800 --> 00:01:16,960 Speaker 3: still did bring almost six billion euros in revenue in 24 00:01:17,000 --> 00:01:19,479 Speaker 3: twenty twenty four, so it's not a negligible part of 25 00:01:19,520 --> 00:01:22,440 Speaker 3: that business. And it's also the segment that's actually been 26 00:01:22,480 --> 00:01:25,000 Speaker 3: the weakest recently over the last few quarters, and so 27 00:01:25,400 --> 00:01:28,880 Speaker 3: this potential tariff would of course make that much worse. 28 00:01:28,920 --> 00:01:33,119 Speaker 3: And LVMH was already under pressure yesterday from Trump's planned 29 00:01:33,120 --> 00:01:36,200 Speaker 3: to impose ten percent tariffs on goods from countries that 30 00:01:36,240 --> 00:01:39,679 Speaker 3: have opposed his efforts to acquire a greenland. So LVMH 31 00:01:39,800 --> 00:01:41,680 Speaker 3: is caught in that crossfire. And there's a bit of 32 00:01:41,760 --> 00:01:45,119 Speaker 3: a double whammy there as well with that potential champagne tariff. 33 00:01:45,200 --> 00:01:47,600 Speaker 4: Yeah, and of course it is sort of on almost 34 00:01:47,640 --> 00:01:50,840 Speaker 4: offhand comment from the US President on his way to 35 00:01:50,920 --> 00:01:54,480 Speaker 4: Davos talking about putting this two hundred percent tariff on 36 00:01:54,520 --> 00:01:56,440 Speaker 4: wines and champagne. So we wait to see what sort 37 00:01:56,480 --> 00:01:58,480 Speaker 4: of detail may follow on that one as well, but 38 00:01:58,520 --> 00:02:04,640 Speaker 4: he certainly floated the idea. Turning next to the payments service, 39 00:02:04,880 --> 00:02:06,280 Speaker 4: why is what needs from them. 40 00:02:06,840 --> 00:02:08,640 Speaker 3: Well, it was It's good Dave, for Wi's shares have 41 00:02:08,720 --> 00:02:11,760 Speaker 3: jumped quite quite impressively this morning after it confirmed that 42 00:02:12,040 --> 00:02:14,640 Speaker 3: it was on track to shift its primary listing to 43 00:02:14,720 --> 00:02:17,440 Speaker 3: the US within the first half of twenty twenty six, 44 00:02:17,680 --> 00:02:21,280 Speaker 3: and it also reported some really strong numbers with a 45 00:02:21,320 --> 00:02:24,079 Speaker 3: twenty one percent increase in income in the third quarter, 46 00:02:24,400 --> 00:02:27,639 Speaker 3: and that was also a head of expectations. The goal 47 00:02:27,680 --> 00:02:30,360 Speaker 3: of the primary listing shifting to the US is to 48 00:02:30,400 --> 00:02:33,560 Speaker 3: increase its profile in that country, and it said that 49 00:02:33,600 --> 00:02:36,120 Speaker 3: it wants to partner with more than four thousand banks 50 00:02:36,280 --> 00:02:39,160 Speaker 3: across the US and get them to use its money 51 00:02:39,160 --> 00:02:43,320 Speaker 3: transfer services. When it announced the plans to shift that listing, though, 52 00:02:43,320 --> 00:02:45,200 Speaker 3: it was seen as kind of a big blow to 53 00:02:45,240 --> 00:02:48,760 Speaker 3: the London Stock Exchange. We'd seen you know, companies like 54 00:02:48,800 --> 00:02:52,600 Speaker 3: Flutter and CRCH already shifting their listing their primary listing 55 00:02:53,040 --> 00:02:55,280 Speaker 3: to the US, and it was a sign that the 56 00:02:55,400 --> 00:02:58,600 Speaker 3: you know, low valuations, leak week liquidity, all of that 57 00:02:58,720 --> 00:03:02,799 Speaker 3: was really driving company away from London. Now there are 58 00:03:02,840 --> 00:03:04,960 Speaker 3: some signs of life in the London Stock Exchange, but 59 00:03:05,280 --> 00:03:09,160 Speaker 3: obviously this today is a reminder that the exchange has 60 00:03:09,360 --> 00:03:11,680 Speaker 3: lost a company that is doing really really well, and 61 00:03:11,960 --> 00:03:14,680 Speaker 3: you know, the US Stock Exchange will be benefiting from that. 62 00:03:14,800 --> 00:03:15,200 Speaker 2: And Clarie. 63 00:03:15,240 --> 00:03:18,120 Speaker 1: Finally, Monte de Paski getting a boost from Italy's government 64 00:03:18,160 --> 00:03:19,079 Speaker 1: this morning tell us more. 65 00:03:19,160 --> 00:03:21,600 Speaker 3: Yeah, the Finance ministry in Italy is said to be 66 00:03:21,680 --> 00:03:24,840 Speaker 3: backing the CEO of Monte Pesci for another term, so 67 00:03:24,880 --> 00:03:27,760 Speaker 3: it's keen to kind of support a Luigi Lavaglio the 68 00:03:27,800 --> 00:03:31,200 Speaker 3: CEO because he managed to successfully turn around the bank 69 00:03:31,280 --> 00:03:34,800 Speaker 3: after a very difficult decade of restructuring. And he also 70 00:03:35,200 --> 00:03:39,720 Speaker 3: recently recently completed the seventeen billion dollar deal with to 71 00:03:39,800 --> 00:03:43,200 Speaker 3: buy the rival Medio Banker, and that has turned Pasci 72 00:03:43,280 --> 00:03:46,600 Speaker 3: into the third largest bank in Italy, and Lavaglio is 73 00:03:47,280 --> 00:03:50,280 Speaker 3: continuing to benefit from that support from the Finance ministry, 74 00:03:50,320 --> 00:03:53,520 Speaker 3: even though it's a takeover of Medio Banker is actually 75 00:03:53,520 --> 00:03:59,360 Speaker 3: currently under scrutiny by prosecutors. They're investing allegations of market manipulation, 76 00:03:59,800 --> 00:04:02,680 Speaker 3: and Lavaglio is still very much at the center of 77 00:04:02,760 --> 00:04:05,600 Speaker 3: all of this. But this continued support is probably being 78 00:04:05,640 --> 00:04:07,960 Speaker 3: taken well by investors and taken as a sign that 79 00:04:08,200 --> 00:04:10,480 Speaker 3: there won't be any disruption at the top for now, 80 00:04:11,000 --> 00:04:14,080 Speaker 3: and that stability there is being rewarded, and we've seen 81 00:04:14,160 --> 00:04:15,640 Speaker 3: Pasqui's shares moving. 82 00:04:15,520 --> 00:04:19,880 Speaker 2: Higher this morning the Stock Movers report from Bloomberg Radio. 83 00:04:20,400 --> 00:04:22,520 Speaker 2: Check back with us throughout the day for the latest 84 00:04:22,600 --> 00:04:25,800 Speaker 2: roundup of companies making news on Wall Street and for 85 00:04:25,880 --> 00:04:29,799 Speaker 2: the latest market moving headlines. 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