Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Now, let's take a look as up of the stocks
Speaker 1: on the move today in Europe. I'm Lazy Burden with
Speaker 1: Stephen Carroll and were joined by Bloomberg reporter Chloe Melee. Chloe,
Speaker 1: seems like LVMH is not popping the bubble this morning.
Speaker 3: Why yeah, So Trump is hitting the French where it's
Speaker 3: the most, which is Champagne. Of course, Trump said he
Speaker 3: would impose a two hundred percent a tariff on Champagne
Speaker 3: if macon doesn't join his Board of Peace. So for
Speaker 3: a little bit more a detail on this Board of Peace,
Speaker 3: Trump is essentially demanding that nations pay one billion dollars
Speaker 3: for permanent membership of the board, and some European leaders
Speaker 3: have voiced some concerns about that plan, given that it
Speaker 3: appears to place the ultimate decision making power with Trump.
Speaker 3: And so maconn has rejected an invitation to join that
Speaker 3: Board of Peace and has said, well, if you refuse,
Speaker 3: then I'm going to retaliate by targeting your wine and
Speaker 3: your champagne, and LVMH is affected by this given it
Speaker 3: has a big wine and spirits division. It is the
Speaker 3: smallest segment out of everything that it does, but it
Speaker 3: still did bring almost six billion euros in revenue in
Speaker 3: twenty twenty four, so it's not a negligible part of
Speaker 3: that business. And it's also the segment that's actually been
Speaker 3: the weakest recently over the last few quarters, and so
Speaker 3: this potential tariff would of course make that much worse.
Speaker 3: And LVMH was already under pressure yesterday from Trump's planned
Speaker 3: to impose ten percent tariffs on goods from countries that
Speaker 3: have opposed his efforts to acquire a greenland. So LVMH
Speaker 3: is caught in that crossfire. And there's a bit of
Speaker 3: a double whammy there as well with that potential champagne tariff.
Speaker 4: Yeah, and of course it is sort of on almost
Speaker 4: offhand comment from the US President on his way to
Speaker 4: Davos talking about putting this two hundred percent tariff on
Speaker 4: wines and champagne. So we wait to see what sort
Speaker 4: of detail may follow on that one as well, but
Speaker 4: he certainly floated the idea. Turning next to the payments service,
Speaker 4: why is what needs from them.
Speaker 3: Well, it was It's good Dave, for Wi's shares have
Speaker 3: jumped quite quite impressively this morning after it confirmed that
Speaker 3: it was on track to shift its primary listing to
Speaker 3: the US within the first half of twenty twenty six,
Speaker 3: and it also reported some really strong numbers with a
Speaker 3: twenty one percent increase in income in the third quarter,
Speaker 3: and that was also a head of expectations. The goal
Speaker 3: of the primary listing shifting to the US is to
Speaker 3: increase its profile in that country, and it said that
Speaker 3: it wants to partner with more than four thousand banks
Speaker 3: across the US and get them to use its money
Speaker 3: transfer services. When it announced the plans to shift that listing, though,
Speaker 3: it was seen as kind of a big blow to
Speaker 3: the London Stock Exchange. We'd seen you know, companies like
Speaker 3: Flutter and CRCH already shifting their listing their primary listing
Speaker 3: to the US, and it was a sign that the
Speaker 3: you know, low valuations, leak week liquidity, all of that
Speaker 3: was really driving company away from London. Now there are
Speaker 3: some signs of life in the London Stock Exchange, but
Speaker 3: obviously this today is a reminder that the exchange has
Speaker 3: lost a company that is doing really really well, and
Speaker 3: you know, the US Stock Exchange will be benefiting from that.
Speaker 2: And Clarie.
Speaker 1: Finally, Monte de Paski getting a boost from Italy's government
Speaker 1: this morning tell us more.
Speaker 3: Yeah, the Finance ministry in Italy is said to be
Speaker 3: backing the CEO of Monte Pesci for another term, so
Speaker 3: it's keen to kind of support a Luigi Lavaglio the
Speaker 3: CEO because he managed to successfully turn around the bank
Speaker 3: after a very difficult decade of restructuring. And he also
Speaker 3: recently recently completed the seventeen billion dollar deal with to
Speaker 3: buy the rival Medio Banker, and that has turned Pasci
Speaker 3: into the third largest bank in Italy, and Lavaglio is
Speaker 3: continuing to benefit from that support from the Finance ministry,
Speaker 3: even though it's a takeover of Medio Banker is actually
Speaker 3: currently under scrutiny by prosecutors. They're investing allegations of market manipulation,
Speaker 3: and Lavaglio is still very much at the center of
Speaker 3: all of this. But this continued support is probably being
Speaker 3: taken well by investors and taken as a sign that
Speaker 3: there won't be any disruption at the top for now,
Speaker 3: and that stability there is being rewarded, and we've seen
Speaker 3: Pasqui's shares moving.
Speaker 2: Higher this morning the Stock Movers report from Bloomberg Radio.
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