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Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Well, let's take a look at some stocks on the
Speaker 3: move today in Europe. I'm Stephen Carroll with Anna Edwards,
Speaker 3: and we're joined by Bloomberg's Breaking News editor Louise Moon.
Speaker 3: Louise starting with the energy sector and focus again today
Speaker 3: as we're seeing oil prices rebound slightly. What are we
Speaker 3: seeing in terms of share prices of the likes of BP.
Speaker 1: Yeah, so essentially tracking that rebound the same thing, so BP, Shell,
Speaker 1: all of the kind of oil majors in the UK,
Speaker 1: but across Europe. Obviously, yesterday their chees fell, they pulled
Speaker 1: back on the back of oil prices yesterday, and now
Speaker 1: they're rising. So BP up more than two percent, reversing
Speaker 1: some of yesterday's losses, but in a similar light to
Speaker 1: overall oil prices, not reversing all of those losses. Shell
Speaker 1: also higher, and both of them have been the biggest
Speaker 1: upper conturbators to the Footyat index this morning. Obviously they're
Speaker 1: relatively heavyweighted on the index, so have a lot of
Speaker 1: influence there obviously, as you say, this is all over
Speaker 1: concerns remaining over the Middle East, overall sentiment seen as fragile,
Speaker 1: more clarity needed, and this is boosting energy stocks and
Speaker 1: BP if we're going to focus on that one in
Speaker 1: particular as well. The markets Louise have been so preoccupied
Speaker 1: with everything that's happening in the Persian Gulf, of course,
Speaker 1: but there are some M and A stories that do
Speaker 1: seem to be occasionally cutting through. What are we hearing
Speaker 1: about Rifism bank, Yes, so yeah, focus on a bit
Speaker 1: of M and A slightly different So Rifi's in bank.
Speaker 1: This is an Austrian bank offered to buy another Austrian
Speaker 1: bank called Adaco. So they've offered to buy it at
Speaker 1: a eleven percent discount, and that's on a price per
Speaker 1: share basis compared to yesterday's closing price. But they do
Speaker 1: say that it matches Adaco's kind of weighted average over
Speaker 1: the past six months. That's according to their own calculation,
Speaker 1: so value it at about four hundred and fifty million euros.
Speaker 1: And then in terms of rifis AND's kind of you know,
Speaker 1: their overall strategy. This could be if this all goes
Speaker 1: through their second major acquisition this year as they're kind
Speaker 1: of a renewed appetite for deals. They're growing operations in
Speaker 1: different European markets. So for example, they recently bought the
Speaker 1: Romanian unit of BBVA for almost six hundred million euros.
Speaker 1: So Adico shares are over four percent on the news,
Speaker 1: so potentially being welcome there by investors, but rifies in
Speaker 1: slightly actually dipping into the red.
Speaker 3: And we've seen an upgrade for the biotech company Abivags
Speaker 3: this morning Louise t us More.
Speaker 1: Yeah, so their shares that was much three point eight
Speaker 1: percent on the back of this. So this upgrade, Biodos
Speaker 1: saying that their Crohn's disease could actually that their Crozesse
Speaker 1: drugs could actually represent a much bigger commercial opportunity then
Speaker 1: had previously been thought. They're saying that this is being
Speaker 1: underestimated by the market as a whole. So they're saying
Speaker 1: that the they're estimating that sales could be as much
Speaker 1: as two point eight billion euros in twenty thirty four
Speaker 1: related to these prones, to these drugs. They had previously
Speaker 1: thought it was about two billions, So quite an uptic there,
Speaker 1: So adds to this positive news really for Avivax. Their
Speaker 1: shares have been on if you look back, they've been
Speaker 1: on absolute terror of the past year, longer than a year, so,
Speaker 1: I mean last year they rose almost two thousand percent
Speaker 1: that the share price, making it what it's been viewed
Speaker 1: as quite an attractive takeover target in that sense. And
Speaker 1: then this year is quite pivotal. They've got a few
Speaker 1: clinical trial results that are expected to come through this year,
Speaker 1: so all of that is kind of adding to their
Speaker 1: share price, and then we've had this upgrade again this.
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