WEBVTT - Soceiete Generale Boosted, TotalEnergies Up, WPP Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Well, let's take a look at some stocks on the

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<v Speaker 3>move today in Europe. I'm Stephen Carroll and I'm joined

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<v Speaker 3>by Bloomberg's Breaking News editor Louise Louise.

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<v Speaker 2>Good morning.

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<v Speaker 3>Let's start with banking then and Sosage General in France

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<v Speaker 3>and encing a one billion euro buyback.

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<v Speaker 1>Indeed, so this will begin this month, so November seventeenth,

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<v Speaker 1>and it's being well received, been seeing as a bit

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<v Speaker 1>of a boost for investors. They've been holding out for

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<v Speaker 1>more payments. That's after Sostchen had their third quarter results

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<v Speaker 1>a few weeks ago and they didn't outline fresh payments

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<v Speaker 1>within those results. And that was even though its capital

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<v Speaker 1>buffer was comfortably above a level that had set at

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<v Speaker 1>a threshold to then return more money, but it didn't

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<v Speaker 1>announce it in those quarter results. And so today has

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<v Speaker 1>been seeing as quite a boost. Been doing very well

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<v Speaker 1>at share prices, more than doubled since the beginning of

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<v Speaker 1>the year. Has been one of the best performers among

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<v Speaker 1>lenders in Europe. So as I say, shares edging slightly

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<v Speaker 1>higher this morning on a bit of positivity for that

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<v Speaker 1>one billion share buy back.

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<v Speaker 3>Indeed, shares also writing higher too in Total Energy in

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<v Speaker 3>France after a new m and a deal announced from them.

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<v Speaker 3>What should we learn.

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<v Speaker 1>Yeah, so they're buying a fifty percent steak that's in

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<v Speaker 1>a portfolio of assets of power generation assets from an

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<v Speaker 1>energy holding company called EPH. So it's a joint venture,

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<v Speaker 1>so fifty to fifty for these assets in Western Europe.

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<v Speaker 1>So this will be things like power plants and batteries

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<v Speaker 1>across a whole host of countries, so Italy, the UK

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<v Speaker 1>and others. They're buying that for five point one billion euros.

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<v Speaker 1>EPH that their now their JV partner is owned by

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<v Speaker 1>check billionaire general Daniel Kritinski. Interestingly, and in exchange for

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<v Speaker 1>the deal, they'll get a four point one percent steak

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<v Speaker 1>in Total, so they'll become one of Total's largest shareholders.

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<v Speaker 1>So an interesting deal in that space. It kind of

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<v Speaker 1>comes as Hotel is continuing to expand more in the

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<v Speaker 1>power sector as part of their diversification. Some of their

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<v Speaker 1>rivals are getting more sales from things like fossil fields,

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<v Speaker 1>but they're focusing on electricity. So as you say, shares

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<v Speaker 1>tick tire on the back of that, they didn't gain that.

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<v Speaker 1>They weren't, you know, kind of soaring this morning. They

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<v Speaker 1>only slight ticked Tire potentially held back by them saying

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<v Speaker 1>that as a result of this new deal they're lowering

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<v Speaker 1>their KAPEX guidance by a billion dollars a year, so

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<v Speaker 1>potentially holding back those gains. But yeah, an interesting deal

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<v Speaker 1>in that space this morning.

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<v Speaker 3>Okay, And then we're turning to advertising now. Shares in

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<v Speaker 3>WPP and London up three point four percent, a potential takeover.

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<v Speaker 1>Target potentially, Yes, there were reports over the weekend, so

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<v Speaker 1>the Times in London reported that there'd been some takeover

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<v Speaker 1>interest for WPP. So this is from a French advertising

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<v Speaker 1>agency and they say they're in. They've held advanced takeover talk.

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<v Speaker 1>So nothing's been confirmed yet from either side, so we're

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<v Speaker 1>waiting to see if anything will come. But as you say,

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<v Speaker 1>WP shares reacting quite positively to that. They've had quite

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<v Speaker 1>a bad run. If you look at their share price,

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<v Speaker 1>they're down almost seventy percent so far this year. They

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<v Speaker 1>cut their growth guidance last year. They've been that they

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<v Speaker 1>used to be as you'll know they used to be

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<v Speaker 1>one of the world's largest ads agencies, but more recently

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<v Speaker 1>they've been battling kind of a reduction spending from clients,

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<v Speaker 1>the rise of AI, more competition, and that's really been

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<v Speaker 1>hammering their share price. So potential takeover for them and

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<v Speaker 1>will be keep you a close eye on that one.

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