Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Now, let's have a look at some of the stocks
Speaker 2: on the move today here in Europe. I'm Caroline Hepga
Speaker 2: and I'm joined by Bloomberg reporter Kit Reese. Kit good
Speaker 2: to speak to you. There are some stocks trading today.
Speaker 2: It's a holiday shortened day and quite a number of
Speaker 2: European markets are closed for the whole day anyway. But
Speaker 2: BP is moving. They outed their CEO last week and
Speaker 2: we've got some fresh news today.
Speaker 3: What's been happening, Yes, so we're getting a little bit
Speaker 3: of m and A news this morning. So BP has
Speaker 3: agreed to sell a majority steak in its Castro business
Speaker 3: to Stone Peak Partners. So Castrow that makes lubricants for
Speaker 3: autos and industries, and it has also been developing a
Speaker 3: liquid cooling technology for use in AI data centers. So
Speaker 3: BP will raise around six billion dollars for sixty five
Speaker 3: percent stake in the group, and it looks like the
Speaker 3: deal will be completed by the end of next year.
Speaker 3: So it's it's been a really busy year for BP,
Speaker 3: as you mentioned, you know, they they're replacing their CEO
Speaker 3: after just two years in the job, and it's really
Speaker 3: come under pressure from an activist investor, Elliott to pivot
Speaker 3: back towards fossil fuels after and not particularly successful foray
Speaker 3: into renewables. So it's also struggle because the oil price
Speaker 3: has been very volatile. So if I'm looking at the
Speaker 3: shares that are up at abouto point four percent this morning,
Speaker 3: so not a huge move, but overall, you know, it's
Speaker 3: part of this divestment strategy, part of its efforts to
Speaker 3: restructure and refocus on things like oil and gas. The
Speaker 3: shares are up ten percent this year and they've really
Speaker 3: underperformed the stock six hundred energy sectors twenty percent gain,
Speaker 3: so there's still quite a long way to go, but
Speaker 3: it's a move in the right direction.
Speaker 2: Interesting, So that's BP. Meanwhile, the French drug maker Sanofi
Speaker 2: making a bed against vaccine fatigue. How are they doing that?
Speaker 3: Yeah, definitely. So they're buying Dinovax technology for two point
Speaker 3: two billion dollars, which would give it exposure to the
Speaker 3: adult immunization market. So dino Vaccines has this hepatitis B
Speaker 3: vaccine that's already marketed in the US, and also an
Speaker 3: experimental shingles and oculation which is in early human testing.
Speaker 3: So I mean, the vaccine business, it's really struggled. Sanofi
Speaker 3: has really struggled with this, given that the sales of
Speaker 3: flu vaccines have declined in the last quarter. There's also
Speaker 3: growing competition in Europe which has kind of pushed down prices,
Speaker 3: and fewer people are getting vaccinated in the US. But overall,
Speaker 3: it's an interesting bet. The shares are down very slightly
Speaker 3: this morning, which could be because the FDA has rejected
Speaker 3: Sanofi's experimental multiple sclerosis drug, which is it's been taken
Speaker 3: as a bit of a bit of a negative this morning.
Speaker 3: But overall, it's an interesting bet, as you say, on
Speaker 3: the vaccine market, and we'll just see how it kind
Speaker 3: of develops for them.
Speaker 2: Okay, so that's on Sinofi. Meanwhile, gold, silver, and platinum. No,
Speaker 2: it's not a new Nativity hymn. It's about mining stocks.
Speaker 2: Tell us more, git.
Speaker 3: I mean, these metals have seen an absolutely stunning rally
Speaker 3: this year, and yeah, they're all at record highs today.
Speaker 3: So this really boosts the companies that get these metals
Speaker 3: out of the ground. So stocks like Frisnillo up four
Speaker 3: hundred and twenty percent this year. It mines silver. Howkstiled
Speaker 3: Endeavor also way up over one hundred percent this year.
Speaker 3: There's a lot of a safe haven appeal for pressure's
Speaker 3: metals miners, and we're seeing tensions and Venezuela between the
Speaker 3: Ukraine and Russia, which boosts the peel of these kind
Speaker 3: of assets. And with copper it's also just soaring. There's
Speaker 3: warriors over tighter supply next year. And also the metal
Speaker 3: is used in new technology, especially in things like electrification
Speaker 3: and in data centers, which are obviously key for powering
Speaker 3: the artificial intelligence. And so you know, the basic resources
Speaker 3: sectors of about twenty six percent this year in Europe,
Speaker 3: it's one of the most the top performing sectors in
Speaker 3: Europe this year. And we've seen companies like Antifagasta shares
Speaker 3: up over one hundred percent. It has a copper mine
Speaker 3: in Chile. Anglo American up twenty nine percent. So you know,
Speaker 3: the big question will be candy stocks sustain these gains
Speaker 3: into next year, so we'll have to see, you know,
Speaker 3: how these trades pan out. But overall, you know, the
Speaker 3: precious metals just keep on flying.
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