WEBVTT - BP Rises, Raiffeisen Dips, Abivax Gains

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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>Well, let's take a look at some stocks on the

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

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

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<v Speaker 3>Louise starting with the energy sector and focus again today

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<v Speaker 3>as we're seeing oil prices rebound slightly. What are we

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<v Speaker 3>seeing in terms of share prices of the likes of BP.

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<v Speaker 1>Yeah, so essentially tracking that rebound the same thing, so BP, Shell,

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<v Speaker 1>all of the kind of oil majors in the UK,

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<v Speaker 1>but across Europe. Obviously, yesterday their chees fell, they pulled

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<v Speaker 1>back on the back of oil prices yesterday, and now

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

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<v Speaker 1>some of yesterday's losses, but in a similar light to

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<v Speaker 1>overall oil prices, not reversing all of those losses. Shell

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<v Speaker 1>also higher, and both of them have been the biggest

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<v Speaker 1>upper conturbators to the Footyat index this morning. Obviously they're

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<v Speaker 1>relatively heavyweighted on the index, so have a lot of

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<v Speaker 1>influence there obviously, as you say, this is all over

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<v Speaker 1>concerns remaining over the Middle East, overall sentiment seen as fragile,

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<v Speaker 1>more clarity needed, and this is boosting energy stocks and

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<v Speaker 1>BP if we're going to focus on that one in

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<v Speaker 1>particular as well. The markets Louise have been so preoccupied

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<v Speaker 1>with everything that's happening in the Persian Gulf, of course,

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<v Speaker 1>but there are some M and A stories that do

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<v Speaker 1>seem to be occasionally cutting through. What are we hearing

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<v Speaker 1>about Rifism bank, Yes, so yeah, focus on a bit

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<v Speaker 1>of M and A slightly different So Rifi's in bank.

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<v Speaker 1>This is an Austrian bank offered to buy another Austrian

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<v Speaker 1>bank called Adaco. So they've offered to buy it at

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<v Speaker 1>a eleven percent discount, and that's on a price per

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<v Speaker 1>share basis compared to yesterday's closing price. But they do

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<v Speaker 1>say that it matches Adaco's kind of weighted average over

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

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<v Speaker 1>so value it at about four hundred and fifty million euros.

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<v Speaker 1>And then in terms of rifis AND's kind of you know,

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<v Speaker 1>their overall strategy. This could be if this all goes

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<v Speaker 1>through their second major acquisition this year as they're kind

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<v Speaker 1>of a renewed appetite for deals. They're growing operations in

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<v Speaker 1>different European markets. So for example, they recently bought the

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<v Speaker 1>Romanian unit of BBVA for almost six hundred million euros.

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<v Speaker 1>So Adico shares are over four percent on the news,

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<v Speaker 1>so potentially being welcome there by investors, but rifies in

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<v Speaker 1>slightly actually dipping into the red.

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<v Speaker 3>And we've seen an upgrade for the biotech company Abivags

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<v Speaker 3>this morning Louise t us More.

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<v Speaker 1>Yeah, so their shares that was much three point eight

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<v Speaker 1>percent on the back of this. So this upgrade, Biodos

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<v Speaker 1>saying that their Crohn's disease could actually that their Crozesse

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<v Speaker 1>drugs could actually represent a much bigger commercial opportunity then

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<v Speaker 1>had previously been thought. They're saying that this is being

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<v Speaker 1>underestimated by the market as a whole. So they're saying

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<v Speaker 1>that the they're estimating that sales could be as much

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<v Speaker 1>as two point eight billion euros in twenty thirty four

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<v Speaker 1>related to these prones, to these drugs. They had previously

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<v Speaker 1>thought it was about two billions, So quite an uptic there,

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<v Speaker 1>So adds to this positive news really for Avivax. Their

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<v Speaker 1>shares have been on if you look back, they've been

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<v Speaker 1>on absolute terror of the past year, longer than a year, so,

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<v Speaker 1>I mean last year they rose almost two thousand percent

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<v Speaker 1>that the share price, making it what it's been viewed

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<v Speaker 1>as quite an attractive takeover target in that sense. And

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<v Speaker 1>then this year is quite pivotal. They've got a few

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<v Speaker 1>clinical trial results that are expected to come through this year,

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<v Speaker 1>so all of that is kind of adding to their

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<v Speaker 1>share price, and then we've had this upgrade again this.

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<v Speaker 2>Morning the Stock Movers Report from Bloomberg Radio. Check back

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