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Speaker 1: Bloomberg Audio Studios podcasts, radio news, The.

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Speaker 2: Stock Movers podcast, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg data.

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Speaker 3: Let's take a look at some stocks on the move

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Speaker 3: today in Europe. Were joined by Bloomberg's equities reporter Joe

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Speaker 3: Easton Joe on a day of a major market sell off,

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Speaker 3: of course, all related to the tariff announcements last week.

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Speaker 3: Let's look at the losses first of all that we're

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Speaker 3: seeing in the defense sector in Europe.

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Speaker 4: Yeah, so the defense move today is pretty remarkable, seeing

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Speaker 4: double digit losses across all the big names, Ryan Mattal Leonardo,

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Speaker 4: Bae Systems, Hence, so all of the big suppliers even Airbus, Rolls,

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Speaker 4: Royce as well getting slammed at the open of trading.

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Speaker 4: They have come up a little bit. Ryan Mattau for example,

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Speaker 4: was down twenty seven percent of the open of trading

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Speaker 4: today is now down a per cents are covered a

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Speaker 4: bit now. This is of course after a big for

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Speaker 4: the sector, so people using the sell off as a

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Speaker 4: time to take some profit on these stocks, possibly also

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Speaker 4: covering some of their margin calls. And also out of

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Speaker 4: the US, we had this reports out from Reuters saying

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Speaker 4: that a company called Helmer Industries has declared a force mazure,

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Speaker 4: meaning that they won't be legally contracted to meet their

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Speaker 4: orders if they are hit by any of the global

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Speaker 4: tariffs that are going on. That's a company that supplies

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Speaker 4: airbruss Saffron and a number of other companies. Now, traders

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Speaker 4: in my chat today saying that this was a shock

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Speaker 4: for the market and really indicates that potentially the defense

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Speaker 4: issue from tariffs could be huge.

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Speaker 1: Meanwhile, Joe, some movement for weight loss drugs as well

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Speaker 1: after Donald Trump apparently not going to be allowing Medicare

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Speaker 1: to pay for them. Explain to us what this means

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Speaker 1: for some of the major producers.

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Speaker 4: Yeah, so we've seen weakness in Novo. Nordis is down

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Speaker 4: around six percent at the moment.

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Speaker 3: Now.

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Speaker 4: The Trump administration deciding against allowing Medicare to pay for

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Speaker 4: obesity drugs. Now that would have provided these weightless drugs

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Speaker 4: for millions of people in the country. So therefore it's

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Speaker 4: essentially a hit to demand for these stocks. We saw

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Speaker 4: Eli Lilly dropping over in the US late Friday, the

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Speaker 4: maker of Manjaro, Whereas now we're seeing Nova coming down,

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Speaker 4: but again given the broader slump that we're seeing across

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Speaker 4: European stocks, it's probably kind of a broad move, but

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Speaker 4: also adding to the pressure on Novo. So Novo down

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Speaker 4: five percent in Copenhagen today, Joe.

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Speaker 3: You're also watching Shell this morning, the firm just one

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Speaker 3: and benny in the sector dealing with the slump and

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Speaker 3: oil prices.

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Speaker 4: Yes, so oil not not doing well and of course

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Speaker 4: in terms of the tariff impact and therefore a broad

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Speaker 4: move lower in those asset classes. So Shell guiding for

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Speaker 4: week and expected gas production at alongside week and expected

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Speaker 4: oil equivalents, and that really hitting the stock today. It's

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Speaker 4: down seven percent at the moment. One of the biggest

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Speaker 4: weights on the footze one hundred. Shell reckons it will

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Speaker 4: produce around nine hundred and fifty thousand barrels of oil

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Speaker 4: equivalent in the latest period. That was below the the

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Speaker 4: quarterly estimates. That was a quarterly estimate and it is

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Speaker 4: actually well below targets. A Shell down seven percent to day,

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Speaker 4: but really kind of a move lower with the broader market,

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Speaker 4: with oil prices declining around three percent overnight as well.

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Speaker 1: Joe, how would you describe the mood in the trader

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Speaker 1: chats that you're in right now.

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Speaker 4: I would say it is close to panic, but I

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Speaker 4: think that there is still there's still bigger days in memory.

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Speaker 4: If we think back to the COVID pandemic, for example,

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Speaker 4: we were seeing the indexes down ten percent on consecutive days,

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Speaker 4: and that was real panic. Everyone's selling everything possible with

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Speaker 4: a moment. It's getting close to that, but I think

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Speaker 4: that the COVID pandemic for me, still stands out as

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Speaker 4: something that was much bigger.

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Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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