Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in 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 Caroline Hepker,
Speaker 3: and we're joined by Bloomberg's Breaking News editor Louise Me
Speaker 3: and Louise good morning. So we're seeing somewhat of a
Speaker 3: stabilization following the route and metal markets gold and silver
Speaker 3: are still down fairly significantly on the day, but that
Speaker 3: means big moves too in mining stocks, it does.
Speaker 1: Yeah, So if you look at the Footze hundred for
Speaker 1: example in London, the top drags pretty much all of
Speaker 1: them are miners. So we've got Fresnillo, Endeva, Anti, Fagusta,
Speaker 1: Anglo American, all of kind of the big names. And
Speaker 1: we're also seeing that that kind of ripple across Europe
Speaker 1: as well. So it's not just the Footsie in London
Speaker 1: that's being impacted. As you say, that's coming after metal
Speaker 1: surge in January and investors in particular piling in over
Speaker 1: doubts over the dollar and among other reasons as well,
Speaker 1: and that and then more recently there's been that sell
Speaker 1: off triggered in part by you know, the new FED chair,
Speaker 1: and then those declines have been gathering momentum but starting
Speaker 1: to stabilize a bit today, but as I say, still
Speaker 1: kind of being the main drag there on the foot seat.
Speaker 3: Yeah.
Speaker 4: Absolutely, and you're you're seeing it as you say, on
Speaker 4: the USOX six hundred. Yeah, some big, big declines first
Speaker 4: and low down by three point seven percent. Just as
Speaker 4: an example elsewhere, never more disc Shares in the Danish
Speaker 4: drug maker falling. Why is that?
Speaker 1: Yeah, shares down at one point this morning over about
Speaker 1: three percent. That's after a downgrade by ABG. They downgraded
Speaker 1: Novo from a buy to a hold. This is ahead
Speaker 1: of their fourth quarter results on Wednesday, and ABG are
Speaker 1: essentially saying they don't expect those results to d risk
Speaker 1: They what they call de risk the twenty twenty six
Speaker 1: investor stories. So essentially they think that the fall court
Speaker 1: will show an attractive long term path in terms of
Speaker 1: the growth of their OBC drugs, but also a rocky
Speaker 1: couple of years ahead, so some near term challenges in
Speaker 1: the years ahead, and those could kind of outshine overall
Speaker 1: volume growth essentially, So if you take a bit of
Speaker 1: a step back and you look at their stock, the
Speaker 1: stock did well to start the year, so it did
Speaker 1: well in January. It rose about fourteen percent. That was
Speaker 1: a bit of a bounce back from what was their
Speaker 1: worst ever year. So if you look even further back,
Speaker 1: Novo peaked in twenty twenty four and then it's slumped
Speaker 1: quite heavily since then. So January was a bit of
Speaker 1: a bright spell for them, But overall they're still kind
Speaker 1: of struggling, partly against their rival Eli Lilly. They've had
Speaker 1: some disappointing clinical trial results last year, they had quite
Speaker 1: a few profit warnings, They've got a new CEO, so
Speaker 1: they still got quite a lot of things to contend
Speaker 1: with and prove themselves to invest and this downgrade this
Speaker 1: morning kind of indicates that. And if you look generally
Speaker 1: at their analyst consensus, it has fallen more recently and
Speaker 1: most analysts have no vote at a hold, so there's
Speaker 1: a bit of kind of anticipation over their future trajectory,
Speaker 1: you could say, and more will be shown really in
Speaker 1: their fourth quarter results on Wednesday.
Speaker 3: Okay, Well, turning next to the Italian Bank, Contessa San Paolo,
Speaker 3: their shares falling after announcing plans to return about fifty
Speaker 3: billion euros to shareholders over the next five years.
Speaker 1: Yeah, so seemingly well, that seems like positive news. So, yeah,
Speaker 1: fifty billion to share holders through twenty twenty nine. So
Speaker 1: the target is ninety five percent of profits will be
Speaker 1: given back, and that's a mix of buybacks and cash dividends.
Speaker 1: This is all part of the CEO's wider strategy that
Speaker 1: he has been doing for some time, so prioritizing payouts
Speaker 1: over large deals. So if you look at kind of
Speaker 1: other bigger Allan banks that they've been pursuing M and
Speaker 1: A and that's kind of reshaping Italian finance, whereas Intez
Speaker 1: has been prioritizing cutting costs, cutting risk, boosting their fee
Speaker 1: business to boost overall profits. That's been their widest strategy.
Speaker 1: Their fourth court results also this morning, they came in
Speaker 1: better than expected, but as you say, the stock did
Speaker 1: fall and lesser, essentially saying that their targets are kind
Speaker 1: of as expected, not ambitious, not as ambitious as they
Speaker 1: had hoped. So despite that fifty billion euro buy back
Speaker 1: to investors through twenty twenty nine, shares have fallen.
Speaker 2: Today the Stock Movers Report from Bloomberg Radio. Check back
Speaker 2: with us throughout the day for the latest roundup of
Speaker 2: companies making news on Wall Street and for the latest
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android
Speaker 2: Auto with the Bloomberg Business app.