1 00:00:02,520 --> 00:00:07,360 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 00:00:16,280 --> 00:00:17,799 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:17,800 --> 00:00:19,880 Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:19,920 --> 00:00:22,680 Speaker 3: by Bloomberg's Breaking News editor Louise Louise. 7 00:00:22,800 --> 00:00:23,479 Speaker 2: Good morning. 8 00:00:23,720 --> 00:00:27,320 Speaker 3: Let's start with banking then and Sosage General in France 9 00:00:27,360 --> 00:00:29,280 Speaker 3: and encing a one billion euro buyback. 10 00:00:29,920 --> 00:00:32,760 Speaker 1: Indeed, so this will begin this month, so November seventeenth, 11 00:00:32,800 --> 00:00:35,440 Speaker 1: and it's being well received, been seeing as a bit 12 00:00:35,479 --> 00:00:38,360 Speaker 1: of a boost for investors. They've been holding out for 13 00:00:38,680 --> 00:00:41,920 Speaker 1: more payments. That's after Sostchen had their third quarter results 14 00:00:41,960 --> 00:00:44,800 Speaker 1: a few weeks ago and they didn't outline fresh payments 15 00:00:44,880 --> 00:00:48,320 Speaker 1: within those results. And that was even though its capital 16 00:00:48,360 --> 00:00:51,639 Speaker 1: buffer was comfortably above a level that had set at 17 00:00:51,640 --> 00:00:54,360 Speaker 1: a threshold to then return more money, but it didn't 18 00:00:54,360 --> 00:00:57,760 Speaker 1: announce it in those quarter results. And so today has 19 00:00:57,800 --> 00:01:00,960 Speaker 1: been seeing as quite a boost. Been doing very well 20 00:01:01,240 --> 00:01:03,480 Speaker 1: at share prices, more than doubled since the beginning of 21 00:01:03,520 --> 00:01:05,400 Speaker 1: the year. Has been one of the best performers among 22 00:01:05,800 --> 00:01:09,080 Speaker 1: lenders in Europe. So as I say, shares edging slightly 23 00:01:09,480 --> 00:01:11,960 Speaker 1: higher this morning on a bit of positivity for that 24 00:01:11,959 --> 00:01:13,160 Speaker 1: one billion share buy back. 25 00:01:13,480 --> 00:01:16,440 Speaker 3: Indeed, shares also writing higher too in Total Energy in 26 00:01:16,480 --> 00:01:19,080 Speaker 3: France after a new m and a deal announced from them. 27 00:01:19,120 --> 00:01:19,760 Speaker 3: What should we learn. 28 00:01:20,200 --> 00:01:23,200 Speaker 1: Yeah, so they're buying a fifty percent steak that's in 29 00:01:23,240 --> 00:01:27,120 Speaker 1: a portfolio of assets of power generation assets from an 30 00:01:27,319 --> 00:01:31,479 Speaker 1: energy holding company called EPH. So it's a joint venture, 31 00:01:31,520 --> 00:01:33,720 Speaker 1: so fifty to fifty for these assets in Western Europe. 32 00:01:33,760 --> 00:01:36,440 Speaker 1: So this will be things like power plants and batteries 33 00:01:36,480 --> 00:01:38,640 Speaker 1: across a whole host of countries, so Italy, the UK 34 00:01:39,120 --> 00:01:43,199 Speaker 1: and others. They're buying that for five point one billion euros. 35 00:01:43,560 --> 00:01:47,480 Speaker 1: EPH that their now their JV partner is owned by 36 00:01:47,560 --> 00:01:53,440 Speaker 1: check billionaire general Daniel Kritinski. Interestingly, and in exchange for 37 00:01:53,480 --> 00:01:56,000 Speaker 1: the deal, they'll get a four point one percent steak 38 00:01:56,040 --> 00:02:00,000 Speaker 1: in Total, so they'll become one of Total's largest shareholders. 39 00:02:00,480 --> 00:02:03,480 Speaker 1: So an interesting deal in that space. It kind of 40 00:02:03,520 --> 00:02:07,120 Speaker 1: comes as Hotel is continuing to expand more in the 41 00:02:07,120 --> 00:02:10,480 Speaker 1: power sector as part of their diversification. Some of their 42 00:02:10,600 --> 00:02:14,520 Speaker 1: rivals are getting more sales from things like fossil fields, 43 00:02:14,560 --> 00:02:17,519 Speaker 1: but they're focusing on electricity. So as you say, shares 44 00:02:17,880 --> 00:02:21,760 Speaker 1: tick tire on the back of that, they didn't gain that. 45 00:02:21,919 --> 00:02:24,080 Speaker 1: They weren't, you know, kind of soaring this morning. They 46 00:02:24,120 --> 00:02:27,160 Speaker 1: only slight ticked Tire potentially held back by them saying 47 00:02:27,200 --> 00:02:31,600 Speaker 1: that as a result of this new deal they're lowering 48 00:02:31,600 --> 00:02:34,680 Speaker 1: their KAPEX guidance by a billion dollars a year, so 49 00:02:34,720 --> 00:02:38,040 Speaker 1: potentially holding back those gains. But yeah, an interesting deal 50 00:02:38,080 --> 00:02:39,440 Speaker 1: in that space this morning. 51 00:02:39,480 --> 00:02:42,560 Speaker 3: Okay, And then we're turning to advertising now. Shares in 52 00:02:42,720 --> 00:02:47,520 Speaker 3: WPP and London up three point four percent, a potential takeover. 53 00:02:47,280 --> 00:02:50,720 Speaker 1: Target potentially, Yes, there were reports over the weekend, so 54 00:02:50,760 --> 00:02:54,040 Speaker 1: the Times in London reported that there'd been some takeover 55 00:02:54,080 --> 00:02:57,240 Speaker 1: interest for WPP. So this is from a French advertising 56 00:02:57,280 --> 00:03:01,320 Speaker 1: agency and they say they're in. They've held advanced takeover talk. 57 00:03:01,400 --> 00:03:04,440 Speaker 1: So nothing's been confirmed yet from either side, so we're 58 00:03:04,440 --> 00:03:06,639 Speaker 1: waiting to see if anything will come. But as you say, 59 00:03:06,760 --> 00:03:10,040 Speaker 1: WP shares reacting quite positively to that. They've had quite 60 00:03:10,040 --> 00:03:12,239 Speaker 1: a bad run. If you look at their share price, 61 00:03:12,280 --> 00:03:15,520 Speaker 1: they're down almost seventy percent so far this year. They 62 00:03:15,520 --> 00:03:18,160 Speaker 1: cut their growth guidance last year. They've been that they 63 00:03:18,240 --> 00:03:19,919 Speaker 1: used to be as you'll know they used to be 64 00:03:20,000 --> 00:03:23,800 Speaker 1: one of the world's largest ads agencies, but more recently 65 00:03:23,800 --> 00:03:26,560 Speaker 1: they've been battling kind of a reduction spending from clients, 66 00:03:26,600 --> 00:03:29,359 Speaker 1: the rise of AI, more competition, and that's really been 67 00:03:29,360 --> 00:03:33,920 Speaker 1: hammering their share price. So potential takeover for them and 68 00:03:34,160 --> 00:03:36,400 Speaker 1: will be keep you a close eye on that one. 69 00:03:36,840 --> 00:03:40,880 Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with 70 00:03:40,960 --> 00:03:43,560 Speaker 2: us throughout the day for the latest roundup of companies 71 00:03:43,600 --> 00:03:46,720 Speaker 2: making news on Wall Street and for the latest market 72 00:03:46,760 --> 00:03:51,200 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 73 00:03:51,320 --> 00:03:54,800 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 74 00:03:54,880 --> 00:03:56,360 Speaker 2: the Bloomberg Business app.