1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:18,280 Speaker 2: Now, let's take a look at some of the stocks 5 00:00:18,280 --> 00:00:20,520 Speaker 2: on the move today here in Europe'm Caroline Hepkar with 6 00:00:20,560 --> 00:00:23,400 Speaker 2: Stephen Carroll and we joined Bublinberg reportter Teba at a Bio. 7 00:00:23,480 --> 00:00:27,680 Speaker 2: Good morning. So mining stocks down this morning, including the 8 00:00:27,760 --> 00:00:32,080 Speaker 2: London listed Pan African Resources. What's the story here here? 9 00:00:32,159 --> 00:00:35,319 Speaker 3: So we're seeing gold producer Pan African Resources as one 10 00:00:35,320 --> 00:00:37,480 Speaker 3: of the biggest losers on the stock six hundred today. 11 00:00:37,520 --> 00:00:40,280 Speaker 3: It's down as much as nine percent this morning, and 12 00:00:40,320 --> 00:00:44,160 Speaker 3: really this comes amidst a downturn for miners and industrial 13 00:00:44,200 --> 00:00:46,680 Speaker 3: stocks as a whole, as the war in Iran continues. 14 00:00:46,840 --> 00:00:48,680 Speaker 3: It's due to a gold cell off, which way it's 15 00:00:48,680 --> 00:00:50,959 Speaker 3: seeing continue this morning, the precious metal has been down 16 00:00:50,960 --> 00:00:54,360 Speaker 3: as much as eight percent losses pairing slightly now. But 17 00:00:54,480 --> 00:00:57,760 Speaker 3: this downturn is really being spurred by the risk of 18 00:00:57,760 --> 00:01:00,640 Speaker 3: inflation tied to the conflict in the Middle Least and 19 00:01:01,040 --> 00:01:05,279 Speaker 3: further expectations of higher interest rates. The metal has already 20 00:01:05,319 --> 00:01:08,119 Speaker 3: wiped out this year's gains. It's been falling for nine 21 00:01:08,280 --> 00:01:11,319 Speaker 3: consecutive days today. So the thinking here is really that 22 00:01:11,600 --> 00:01:16,679 Speaker 3: higher interest rates could dampen demand for metals and weaken 23 00:01:16,760 --> 00:01:19,520 Speaker 3: the appeal of what's called non yielding assets like gold, 24 00:01:20,160 --> 00:01:24,040 Speaker 3: and a source telling Bloomberg that gold has a liquidity 25 00:01:24,520 --> 00:01:27,520 Speaker 3: issue and that this rapid sell off is being driven 26 00:01:27,560 --> 00:01:30,920 Speaker 3: by investors need to raise cash. So one to watch there. 27 00:01:33,080 --> 00:01:36,400 Speaker 2: And TIA. In the telecom space in Italy, we're looking 28 00:01:36,400 --> 00:01:38,839 Speaker 2: at some m and a movement around Telecommetalia. 29 00:01:39,640 --> 00:01:42,920 Speaker 3: Yeah, telecom Metalia actually leading the gains in this stock 30 00:01:42,959 --> 00:01:45,360 Speaker 3: six hundred today, it's up as much as eight percent, 31 00:01:45,560 --> 00:01:48,960 Speaker 3: and that's as it's seen a ten point eight billion 32 00:01:49,040 --> 00:01:52,360 Speaker 3: dollar bid for its ownership. This comes from the firm 33 00:01:52,520 --> 00:01:56,360 Speaker 3: Post Italian, which is the state controlled Italian post provider. 34 00:01:56,800 --> 00:01:58,520 Speaker 2: The move would fold. 35 00:01:58,360 --> 00:02:03,680 Speaker 3: Telecomatalia's phone, cloud and data operations directly into Post Italian's 36 00:02:03,720 --> 00:02:08,079 Speaker 3: retail network, and it already offers phone banking and insurance services, 37 00:02:08,320 --> 00:02:11,840 Speaker 3: and that deal would see the former phone monopoly return 38 00:02:12,000 --> 00:02:18,440 Speaker 3: to government ownership three decades after its privatization. Post chief 39 00:02:18,560 --> 00:02:23,359 Speaker 3: executive officer has been beefing up his telecom assets in 40 00:02:23,400 --> 00:02:26,800 Speaker 3: the last few years. The companies have started to coordinate 41 00:02:26,880 --> 00:02:30,480 Speaker 3: more closely on mobile services. It raised its stake in 42 00:02:30,520 --> 00:02:34,840 Speaker 3: Telecom Italia last year. So investors reacting positively to that 43 00:02:35,040 --> 00:02:39,040 Speaker 3: takeover news this morning. But conversely, shares in Post Italian 44 00:02:39,560 --> 00:02:42,080 Speaker 3: are falling today, So perhaps the market is not quite 45 00:02:42,080 --> 00:02:45,720 Speaker 3: as keen on the other side of that takeover equation. Hm. 46 00:02:46,040 --> 00:02:49,880 Speaker 2: Okay, so that on Telecom Italia. What about Spire health 47 00:02:49,919 --> 00:02:54,040 Speaker 2: here in the UK really plunging because of some takeover news. 48 00:02:54,480 --> 00:02:56,400 Speaker 3: Yeah, well, Caroline, you might remember on Friday that we 49 00:02:56,440 --> 00:02:59,320 Speaker 3: did talk about Spire Healthcare, who shares were actually up 50 00:02:59,520 --> 00:03:02,800 Speaker 3: then on the news of this potential takeover by private 51 00:03:02,800 --> 00:03:06,360 Speaker 3: equity firms Bridgepoint and Triton. Well, it's really the opposite 52 00:03:06,400 --> 00:03:09,120 Speaker 3: story today. Shares have sunk as much as twenty one 53 00:03:09,160 --> 00:03:12,120 Speaker 3: percent this morning, hit their lowest level since March twenty 54 00:03:12,160 --> 00:03:15,600 Speaker 3: twenty one, and that's because a Spire has confirmed in 55 00:03:15,639 --> 00:03:18,800 Speaker 3: a statement on Friday evening that its discussions with both 56 00:03:18,840 --> 00:03:22,240 Speaker 3: Bridgepoint and Triton have ended. However, they did say the 57 00:03:22,240 --> 00:03:25,960 Speaker 3: board remains in discussions with other parties in relation to 58 00:03:26,000 --> 00:03:28,840 Speaker 3: a potential sale, but there's no certainty there that an 59 00:03:28,880 --> 00:03:31,839 Speaker 3: offer will be made. Let's Remember that this is, of course, 60 00:03:31,880 --> 00:03:34,160 Speaker 3: the latest bump in a road in what's becoming an 61 00:03:34,240 --> 00:03:37,920 Speaker 3: ongoing takeover saga for Spy, which dates back to at 62 00:03:38,000 --> 00:03:41,720 Speaker 3: least July twenty twenty one, when Ramsey House offer to 63 00:03:41,840 --> 00:03:48,320 Speaker 3: buy Spire collapsed as well. 64 00:03:46,320 --> 00:03:50,360 Speaker 1: The Stock Mover's report from Bloomberg Radio. Check back with 65 00:03:50,440 --> 00:03:53,000 Speaker 1: us throughout the day for the latest roundup of companies 66 00:03:53,080 --> 00:03:56,160 Speaker 1: making news on Wall Street and for the latest market 67 00:03:56,200 --> 00:04:00,680 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 68 00:04:00,760 --> 00:04:04,240 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 69 00:04:04,320 --> 00:04:10,480 Speaker 1: the Bloomberg Business app MHM.