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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The.

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Speaker 2: Stock Movers Report, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: Well, let's take a look at some stocks on the

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Speaker 3: move today in Europe. I'm Stephen Carroll with Anna Edwards,

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Speaker 3: and we're joined by Bloomberg's Breaking News editor Louise Moon.

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Speaker 3: Louise starting with the energy sector and focus again today

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Speaker 3: as we're seeing oil prices rebound slightly. What are we

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Speaker 3: seeing in terms of share prices of the likes of BP.

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Speaker 1: Yeah, so essentially tracking that rebound the same thing, so BP, Shell,

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Speaker 1: all of the kind of oil majors in the UK,

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Speaker 1: but across Europe. Obviously, yesterday their chees fell, they pulled

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Speaker 1: back on the back of oil prices yesterday, and now

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Speaker 1: they're rising. So BP up more than two percent, reversing

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Speaker 1: some of yesterday's losses, but in a similar light to

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Speaker 1: overall oil prices, not reversing all of those losses. Shell

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Speaker 1: also higher, and both of them have been the biggest

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Speaker 1: upper conturbators to the Footyat index this morning. Obviously they're

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Speaker 1: relatively heavyweighted on the index, so have a lot of

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Speaker 1: influence there obviously, as you say, this is all over

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Speaker 1: concerns remaining over the Middle East, overall sentiment seen as fragile,

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Speaker 1: more clarity needed, and this is boosting energy stocks and

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Speaker 1: BP if we're going to focus on that one in

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Speaker 1: particular as well. The markets Louise have been so preoccupied

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Speaker 1: with everything that's happening in the Persian Gulf, of course,

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Speaker 1: but there are some M and A stories that do

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Speaker 1: seem to be occasionally cutting through. What are we hearing

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Speaker 1: about Rifism bank, Yes, so yeah, focus on a bit

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Speaker 1: of M and A slightly different So Rifi's in bank.

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Speaker 1: This is an Austrian bank offered to buy another Austrian

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Speaker 1: bank called Adaco. So they've offered to buy it at

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Speaker 1: a eleven percent discount, and that's on a price per

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Speaker 1: share basis compared to yesterday's closing price. But they do

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Speaker 1: say that it matches Adaco's kind of weighted average over

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Speaker 1: the past six months. That's according to their own calculation,

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Speaker 1: so value it at about four hundred and fifty million euros.

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Speaker 1: And then in terms of rifis AND's kind of you know,

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Speaker 1: their overall strategy. This could be if this all goes

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Speaker 1: through their second major acquisition this year as they're kind

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Speaker 1: of a renewed appetite for deals. They're growing operations in

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Speaker 1: different European markets. So for example, they recently bought the

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Speaker 1: Romanian unit of BBVA for almost six hundred million euros.

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Speaker 1: So Adico shares are over four percent on the news,

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Speaker 1: so potentially being welcome there by investors, but rifies in

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Speaker 1: slightly actually dipping into the red.

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Speaker 3: And we've seen an upgrade for the biotech company Abivags

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Speaker 3: this morning Louise t us More.

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Speaker 1: Yeah, so their shares that was much three point eight

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Speaker 1: percent on the back of this. So this upgrade, Biodos

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Speaker 1: saying that their Crohn's disease could actually that their Crozesse

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Speaker 1: drugs could actually represent a much bigger commercial opportunity then

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Speaker 1: had previously been thought. They're saying that this is being

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Speaker 1: underestimated by the market as a whole. So they're saying

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Speaker 1: that the they're estimating that sales could be as much

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Speaker 1: as two point eight billion euros in twenty thirty four

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Speaker 1: related to these prones, to these drugs. They had previously

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Speaker 1: thought it was about two billions, So quite an uptic there,

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Speaker 1: So adds to this positive news really for Avivax. Their

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Speaker 1: shares have been on if you look back, they've been

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Speaker 1: on absolute terror of the past year, longer than a year, so,

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Speaker 1: I mean last year they rose almost two thousand percent

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Speaker 1: that the share price, making it what it's been viewed

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Speaker 1: as quite an attractive takeover target in that sense. And

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Speaker 1: then this year is quite pivotal. They've got a few

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Speaker 1: clinical trial results that are expected to come through this year,

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Speaker 1: so all of that is kind of adding to their

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Speaker 1: share price, and then we've had this upgrade again this.

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Speaker 2: Morning the Stock Movers Report from Bloomberg Radio. Check back

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Speaker 2: with us throughout the day for the latest roundup of

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Speaker 2: companies making news on Wall Street and for the latest

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Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us

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