WEBVTT - Pets at Home Up, Valneva Up, WPP Down

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

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

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<v Speaker 2>the stock market. Harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some of the stocks on

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<v Speaker 3>the move here in Europe. I'm Caroline Hepgin bringing you

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<v Speaker 3>Bloomberg's Breaking News editor Lubi's Moon for our discussion on

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<v Speaker 3>the stocks moving. Pets at Home. They are detailing their

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<v Speaker 3>turnaround plan. What does it look like?

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<v Speaker 2>So?

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<v Speaker 1>Yes, So this was alongside their results this morning. So

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<v Speaker 1>they kept their goals for the year. That's despite profits

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<v Speaker 1>are sliding, particularly in their retail unit, so sliding heavily,

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<v Speaker 1>but met esmates estimates work relatively low. They've been suffering

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<v Speaker 1>that Pets are Home kind of boomed during COVID and

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<v Speaker 1>since then hasn't been performing as well. So, as you say,

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<v Speaker 1>they've outlined to turn around plan this morning, focusing on

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<v Speaker 1>that retail unit to try and return to growth. So

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<v Speaker 1>and listen saying that they're encouraged by this. They pointed

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<v Speaker 1>to retail trends starting to improve a bit, starting to

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<v Speaker 1>tick higher. So the numbers aren't great, but they're coming

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<v Speaker 1>in line with expectations and looking forward, it seems as

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<v Speaker 1>though things could start to turn around. So shares rose

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<v Speaker 1>on the back of that. They were about six percent

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<v Speaker 1>in morning trading.

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<v Speaker 3>Okay, so that's pets at home and continuing an animal theme,

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<v Speaker 3>We'll never because of this news about lime.

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<v Speaker 1>Disease, Yeah, really interesting. So they've had quite positive data

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<v Speaker 1>from I think it was a mid stage trial, so

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<v Speaker 1>it's not the final trial for a potential vaccine for

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<v Speaker 1>lime disease that's in partnership with Fizer. So shares up

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<v Speaker 1>as much as ten percent on the back of that

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<v Speaker 1>news and Lissa essentially saying that this could support the

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<v Speaker 1>potential for annual protection against lime disease. So the next

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<v Speaker 1>stage is that late stage trial and results for that

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<v Speaker 1>are expected in the first half of next year. And

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<v Speaker 1>there was really a great quote, I thought from one

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<v Speaker 1>analyst saying that this is one of the most compelling

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<v Speaker 1>risk reward catalysts in the europe and biotech space over

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<v Speaker 1>the next six months. We'll be keeping a close eye

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<v Speaker 1>on that, but at the moment, it's looking quite positive

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<v Speaker 1>for that new vaccine to potentially come into play.

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<v Speaker 3>Yeah, line disease is such a horrible, debilitating illness, isn't

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<v Speaker 3>it interesting then on val never and a vaccine maybe WPP. Lastly,

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<v Speaker 3>an exit from the footy today. We have talked about

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<v Speaker 3>WPP in the last couple of weeks the advertising chart.

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<v Speaker 3>What is affecting its share price so well.

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<v Speaker 1>So, I mean there's the rise of AI, there's less

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<v Speaker 1>client spending because of the wider macro environment. There's a

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<v Speaker 1>lot more competition as well in the space, so that's

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<v Speaker 1>been been that's kind of a combination of headwinds for

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<v Speaker 1>WP for a while now. So their share price is

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<v Speaker 1>down more than sixty percent so far this year on

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<v Speaker 1>the back of all those struggles. And yeah, so as

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<v Speaker 1>you say, the latest news is that they're indicated to

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<v Speaker 1>leave the foot Sea hundred, so they're dropped down into

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<v Speaker 1>the foot two to fifty. This is part of the

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<v Speaker 1>quarterly review of the indexes that takes place, so the

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<v Speaker 1>final decision will happen after market close on Decembia, depending

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<v Speaker 1>on share prices, so it's all all done on market cap.

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<v Speaker 1>So WP is set to drop and be replaced by

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<v Speaker 1>British Land that will move up. They've had a strong

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<v Speaker 1>first half. They've been boosted by this as the sector

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<v Speaker 1>kind of widely recovers. So yeah, and an interesting potential movement.

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<v Speaker 1>And i AWPV was a huge powerhouse and it's been

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<v Speaker 1>really lagging in recently, so a big potential dropout.

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