WEBVTT -  Universal Music Jumps, BP Up, JCDecaux Rises

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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 1>Let's take a look at some stocks on the move

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<v Speaker 1>today in Europe. I'm Stephen Carroll with Anna Edwards, and

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<v Speaker 1>we're joined by Bloomberg's Breaking news editor Louise Moon. Louise,

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<v Speaker 1>good morning. Let's start then with that big move that

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<v Speaker 1>we've seen in Universal Music Group shares up almost thirteen

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<v Speaker 1>percent this morning.

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<v Speaker 3>Yeah, that is after Bill Lackman's Pershing Square Holdings, obviously

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<v Speaker 3>listed in London, has proposed a merger with Universal Music Groups.

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<v Speaker 3>So Universal Music Group is the world's largest such company.

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<v Speaker 3>You know, represents the likes of Taylor Swift, Drake and

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<v Speaker 3>other huge artists.

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<v Speaker 4>So thank you for listening those. That was a true

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<v Speaker 4>question we all had earlier. Exactly who is saying he

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<v Speaker 4>was signed to Universal Music Group. The answer is almost everyone,

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<v Speaker 4>almost everyone.

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<v Speaker 3>Yeah, So Pershing essentially has proposed to merge with UMG,

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<v Speaker 3>and in that proposal is nine point four billion euros

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<v Speaker 3>in cash plus shares in the new company, So it

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<v Speaker 3>merge with it with a blank check company and move

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<v Speaker 3>its listing to New York. So U and g's currently

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<v Speaker 3>listened at AMSAMS, so that would result in a shift of listing.

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<v Speaker 3>This offer values it at a seventy eight percent premium

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<v Speaker 3>to the last closing price, and as you say, shares

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<v Speaker 3>did rise and ups down. There rose as much as

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<v Speaker 3>twenty four percent earlier, so quite a jump, but still

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<v Speaker 3>trading well below the offer price. It all comes after Acman,

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<v Speaker 3>he's he's already a shareholder, he's got about four point

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<v Speaker 3>five percent shareholding in UMG, and he's being kind of

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<v Speaker 3>pushing for a lot of change recently, and then in

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<v Speaker 3>his letter this morning saying that you know, it's stock price,

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<v Speaker 3>in his words, has languished due to a combination of

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<v Speaker 3>issues unrelated to the performance of its music business, and

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<v Speaker 3>he thinks that this deal can essentially solve all of

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<v Speaker 3>those issues. Now, the real kind of hurdle is to

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<v Speaker 3>get past the other major shareholder, so one of them

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<v Speaker 3>being French billionaire media billionaire Belore.

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<v Speaker 4>So there's doubts over whether Hill support that.

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<v Speaker 3>So there's quite a few hurdles to get through, So

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<v Speaker 3>it would be an interesting one to keep track of.

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<v Speaker 3>But yeah, a potential huge deal there from pershing towards

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<v Speaker 3>Universal Music Group and Louise.

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<v Speaker 5>We're also watching energy markets, of course, ahead of the

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<v Speaker 5>US deadline to Iran they want to sign some sort

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<v Speaker 5>of deal and reopening the straight ORFORAR moves part of that.

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<v Speaker 5>So how are we watching energy markets today? The oil

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<v Speaker 5>price itself is actually paired earlier gains.

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<v Speaker 3>It yeah has yeah, Shell and BP, so focusing on

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<v Speaker 3>those who are on the foot Sea hundred.

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<v Speaker 4>They're kind of tracking that.

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<v Speaker 3>They're they're among the top stocks that are kind of

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<v Speaker 3>adding the most to gains on the foot Sea one hundred.

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<v Speaker 3>This morning, both higher but not by huge amounts. They

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<v Speaker 3>were of about one percent slightly that they are still

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<v Speaker 3>higher but at a lower amount now going through the morning.

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<v Speaker 3>Of course, as you say, this is all kind of

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<v Speaker 3>tracking what's going on and as the deal nears, you know,

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<v Speaker 3>obviously the expiry is is the end of this evening

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<v Speaker 3>a US time. For Shelle and for BP, they i

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<v Speaker 3>mean their shares have have had huge gains so far

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<v Speaker 3>this Yes, this kind of adds to that. BP's up

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<v Speaker 3>about forty percent, Shells up about thirty one percent, both

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<v Speaker 3>on track for the strongest yearly performance since twenty twenty two,

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<v Speaker 3>and then tomorrow morning, actually we're going to get Shell's

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<v Speaker 3>first quarter production updates, so we'll see how how it's

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<v Speaker 3>actually been faring, you know, in that sense tomorrow morning.

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<v Speaker 3>But yeah, as you say, tracking those those energy moves

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<v Speaker 3>and both both higher today.

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<v Speaker 1>Okay, we're also looking at the moves in the shares

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<v Speaker 1>for JC Deco.

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<v Speaker 3>Yes, the outdoor French advertising company. So they've had another upgrade.

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<v Speaker 3>They've had a few recently, this time from t D

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<v Speaker 3>Cowen from a buy to a hold, and that's prompting

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<v Speaker 3>its shares to rise up almost six percent this morning. Essentially,

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<v Speaker 3>the analyst is saying that it's seeing a clear inflection

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<v Speaker 3>point as China, the Chinese market returns to growth, so

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<v Speaker 3>that's on the back of stronger travel, better demand from advertisers,

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<v Speaker 3>and then kind of more widely, not just China, but

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<v Speaker 3>this global shift in advertising budgets away from kind of

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<v Speaker 3>traditional channels and towards out of home, and that's also

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<v Speaker 3>been noted by other analysts that have upgraded the company recently.

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<v Speaker 4>So for example, JPMorgan upgraded in March.

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<v Speaker 3>So now if you look at the overall analysts ratings,

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<v Speaker 3>they've got nine buys five holds and no cells. So

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<v Speaker 3>there's the analysted eighty accounts were saying, you know, the

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<v Speaker 3>scope for more upside because if you look back at

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<v Speaker 3>their at their share price in terms of historical levels,

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<v Speaker 3>they're still at quite a low level historically, but it

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<v Speaker 3>has been taking higher recently.

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<v Speaker 4>So another upgrade for them.

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<v Speaker 2>The Stock Movers Report from Bloomberg Radio. Check back with

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