1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:18,159 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:18,160 --> 00:00:21,040 Speaker 3: move today in Europe. I'm Stephen Carroll with Caroline Hepker, 6 00:00:21,120 --> 00:00:24,119 Speaker 3: and we're joined by Bloomberg's Breaking News editor Louise Me 7 00:00:24,200 --> 00:00:27,040 Speaker 3: and Louise good morning. So we're seeing somewhat of a 8 00:00:27,080 --> 00:00:30,280 Speaker 3: stabilization following the route and metal markets gold and silver 9 00:00:30,280 --> 00:00:32,720 Speaker 3: are still down fairly significantly on the day, but that 10 00:00:32,840 --> 00:00:35,560 Speaker 3: means big moves too in mining stocks, it does. 11 00:00:35,640 --> 00:00:37,360 Speaker 1: Yeah, So if you look at the Footze hundred for 12 00:00:37,400 --> 00:00:40,159 Speaker 1: example in London, the top drags pretty much all of 13 00:00:40,200 --> 00:00:44,480 Speaker 1: them are miners. So we've got Fresnillo, Endeva, Anti, Fagusta, 14 00:00:44,520 --> 00:00:47,320 Speaker 1: Anglo American, all of kind of the big names. And 15 00:00:47,360 --> 00:00:51,320 Speaker 1: we're also seeing that that kind of ripple across Europe 16 00:00:51,320 --> 00:00:53,280 Speaker 1: as well. So it's not just the Footsie in London 17 00:00:53,280 --> 00:00:58,240 Speaker 1: that's being impacted. As you say, that's coming after metal 18 00:00:58,360 --> 00:01:02,920 Speaker 1: surge in January and investors in particular piling in over 19 00:01:03,000 --> 00:01:06,119 Speaker 1: doubts over the dollar and among other reasons as well, 20 00:01:07,000 --> 00:01:10,520 Speaker 1: and that and then more recently there's been that sell 21 00:01:10,560 --> 00:01:13,320 Speaker 1: off triggered in part by you know, the new FED chair, 22 00:01:13,360 --> 00:01:16,600 Speaker 1: and then those declines have been gathering momentum but starting 23 00:01:16,640 --> 00:01:18,520 Speaker 1: to stabilize a bit today, but as I say, still 24 00:01:18,600 --> 00:01:21,480 Speaker 1: kind of being the main drag there on the foot seat. 25 00:01:21,880 --> 00:01:22,119 Speaker 3: Yeah. 26 00:01:22,120 --> 00:01:24,160 Speaker 4: Absolutely, and you're you're seeing it as you say, on 27 00:01:24,200 --> 00:01:28,080 Speaker 4: the USOX six hundred. Yeah, some big, big declines first 28 00:01:28,120 --> 00:01:30,440 Speaker 4: and low down by three point seven percent. Just as 29 00:01:30,480 --> 00:01:34,600 Speaker 4: an example elsewhere, never more disc Shares in the Danish 30 00:01:34,720 --> 00:01:36,560 Speaker 4: drug maker falling. Why is that? 31 00:01:36,959 --> 00:01:39,400 Speaker 1: Yeah, shares down at one point this morning over about 32 00:01:39,440 --> 00:01:43,679 Speaker 1: three percent. That's after a downgrade by ABG. They downgraded 33 00:01:44,000 --> 00:01:47,160 Speaker 1: Novo from a buy to a hold. This is ahead 34 00:01:47,160 --> 00:01:50,800 Speaker 1: of their fourth quarter results on Wednesday, and ABG are 35 00:01:51,320 --> 00:01:55,080 Speaker 1: essentially saying they don't expect those results to d risk 36 00:01:55,560 --> 00:01:58,040 Speaker 1: They what they call de risk the twenty twenty six 37 00:01:58,160 --> 00:02:01,440 Speaker 1: investor stories. So essentially they think that the fall court 38 00:02:01,480 --> 00:02:05,480 Speaker 1: will show an attractive long term path in terms of 39 00:02:05,560 --> 00:02:08,560 Speaker 1: the growth of their OBC drugs, but also a rocky 40 00:02:09,120 --> 00:02:13,120 Speaker 1: couple of years ahead, so some near term challenges in 41 00:02:13,160 --> 00:02:17,079 Speaker 1: the years ahead, and those could kind of outshine overall 42 00:02:17,400 --> 00:02:20,280 Speaker 1: volume growth essentially, So if you take a bit of 43 00:02:20,280 --> 00:02:22,440 Speaker 1: a step back and you look at their stock, the 44 00:02:22,520 --> 00:02:25,840 Speaker 1: stock did well to start the year, so it did 45 00:02:25,880 --> 00:02:29,080 Speaker 1: well in January. It rose about fourteen percent. That was 46 00:02:29,080 --> 00:02:31,639 Speaker 1: a bit of a bounce back from what was their 47 00:02:31,720 --> 00:02:33,960 Speaker 1: worst ever year. So if you look even further back, 48 00:02:34,840 --> 00:02:37,480 Speaker 1: Novo peaked in twenty twenty four and then it's slumped 49 00:02:37,560 --> 00:02:40,040 Speaker 1: quite heavily since then. So January was a bit of 50 00:02:40,720 --> 00:02:44,600 Speaker 1: a bright spell for them, But overall they're still kind 51 00:02:44,639 --> 00:02:49,600 Speaker 1: of struggling, partly against their rival Eli Lilly. They've had 52 00:02:49,600 --> 00:02:52,760 Speaker 1: some disappointing clinical trial results last year, they had quite 53 00:02:52,760 --> 00:02:55,359 Speaker 1: a few profit warnings, They've got a new CEO, so 54 00:02:55,400 --> 00:02:58,000 Speaker 1: they still got quite a lot of things to contend 55 00:02:58,040 --> 00:03:02,600 Speaker 1: with and prove themselves to invest and this downgrade this 56 00:03:02,680 --> 00:03:06,560 Speaker 1: morning kind of indicates that. And if you look generally 57 00:03:06,560 --> 00:03:09,880 Speaker 1: at their analyst consensus, it has fallen more recently and 58 00:03:10,000 --> 00:03:13,280 Speaker 1: most analysts have no vote at a hold, so there's 59 00:03:13,320 --> 00:03:18,200 Speaker 1: a bit of kind of anticipation over their future trajectory, 60 00:03:18,280 --> 00:03:21,560 Speaker 1: you could say, and more will be shown really in 61 00:03:21,600 --> 00:03:23,040 Speaker 1: their fourth quarter results on Wednesday. 62 00:03:24,000 --> 00:03:27,200 Speaker 3: Okay, Well, turning next to the Italian Bank, Contessa San Paolo, 63 00:03:27,440 --> 00:03:31,000 Speaker 3: their shares falling after announcing plans to return about fifty 64 00:03:31,000 --> 00:03:33,600 Speaker 3: billion euros to shareholders over the next five years. 65 00:03:34,040 --> 00:03:38,119 Speaker 1: Yeah, so seemingly well, that seems like positive news. So, yeah, 66 00:03:38,160 --> 00:03:41,640 Speaker 1: fifty billion to share holders through twenty twenty nine. So 67 00:03:41,720 --> 00:03:44,360 Speaker 1: the target is ninety five percent of profits will be 68 00:03:44,400 --> 00:03:48,040 Speaker 1: given back, and that's a mix of buybacks and cash dividends. 69 00:03:48,520 --> 00:03:51,280 Speaker 1: This is all part of the CEO's wider strategy that 70 00:03:51,320 --> 00:03:54,760 Speaker 1: he has been doing for some time, so prioritizing payouts 71 00:03:54,800 --> 00:03:57,760 Speaker 1: over large deals. So if you look at kind of 72 00:03:58,200 --> 00:04:02,080 Speaker 1: other bigger Allan banks that they've been pursuing M and 73 00:04:02,120 --> 00:04:05,320 Speaker 1: A and that's kind of reshaping Italian finance, whereas Intez 74 00:04:05,360 --> 00:04:11,200 Speaker 1: has been prioritizing cutting costs, cutting risk, boosting their fee 75 00:04:11,240 --> 00:04:15,240 Speaker 1: business to boost overall profits. That's been their widest strategy. 76 00:04:16,240 --> 00:04:18,720 Speaker 1: Their fourth court results also this morning, they came in 77 00:04:18,760 --> 00:04:21,320 Speaker 1: better than expected, but as you say, the stock did 78 00:04:21,520 --> 00:04:24,960 Speaker 1: fall and lesser, essentially saying that their targets are kind 79 00:04:25,000 --> 00:04:29,080 Speaker 1: of as expected, not ambitious, not as ambitious as they 80 00:04:29,120 --> 00:04:33,920 Speaker 1: had hoped. So despite that fifty billion euro buy back 81 00:04:33,960 --> 00:04:37,680 Speaker 1: to investors through twenty twenty nine, shares have fallen. 82 00:04:37,760 --> 00:04:43,120 Speaker 2: Today the Stock Movers Report from Bloomberg Radio. Check back 83 00:04:43,120 --> 00:04:45,359 Speaker 2: with us throughout the day for the latest roundup of 84 00:04:45,400 --> 00:04:48,719 Speaker 2: companies making news on Wall Street and for the latest 85 00:04:48,720 --> 00:04:52,960 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 86 00:04:52,960 --> 00:04:56,719 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 87 00:04:56,720 --> 00:04:58,719 Speaker 2: Auto with the Bloomberg Business app.