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: Let's take a look at some stocks on the move
Speaker 3: today in Europe. I'm Stephen Carroll with Valery title, and
Speaker 3: we're joined by Bloomberger Porter Chloy, Male Chloy. Good morning.
Speaker 3: Let's start with a sector then that's been booming recently,
Speaker 3: precious metals, a jump for Fresnillo. Talk us through what's happening.
Speaker 1: Yeah, well, so Frasnillo is a silver and gold miner
Speaker 1: and it's a really good time to be here. Yeah. Absolutely,
Speaker 1: it's a really good time at the moment to be
Speaker 1: mining those two a particular metals. So as silver recently
Speaker 1: hit an all time peak of eighty four dollars an ounce,
Speaker 1: So this might not mean much for those of us
Speaker 1: who do not operate mines, but for context, it was
Speaker 1: twenty eight dollars anounced back in January. So it's a
Speaker 1: massive jump. And as Valerie was mentioning, silver did for
Speaker 1: today with traders taking profits, there's been quite a lot
Speaker 1: of volatility, but it's still an incredible run for the
Speaker 1: metal and gold has also been on a pretty amazing run,
Speaker 1: with that kind of rush to gold being one of
Speaker 1: the biggest trades that we saw in twenty twenty five.
Speaker 1: And this massive rally for precious metals really has several factors.
Speaker 1: We've got investors going to those safe havens because of
Speaker 1: rising geopolitical tensions, and we also have lower boring costs
Speaker 1: which are a big boost for commodities. And I could
Speaker 1: continue in twenty twenty six because traders are betting on
Speaker 1: more rate cuts for next year, and for silver in particular.
Speaker 1: Unlike gold, it also has some real world applications, so
Speaker 1: it is being used in solar panels, in AI data centers,
Speaker 1: in electronics. So there's perhaps even more room to run
Speaker 1: for silver and for gold as well, and that will
Speaker 1: be good for fresnature. As you said, it's a really good,
Speaker 1: really good business to be in at the moment.
Speaker 3: So the miners are having a good day. What it's
Speaker 3: not having a good day. It seems to be like
Speaker 3: European defense sector.
Speaker 1: Ryan Mattawell is on the back foot again after these
Speaker 1: peace talks in Florida. Yeah, absolutely so, Ryan mattauld Down
Speaker 1: also Nardosa, bensold All of those defense names are down
Speaker 1: at this morning. So it's the same as we've seen
Speaker 1: over the last few weeks with investors kind of responding
Speaker 1: to those developments in those Ukraine peace talks, and so
Speaker 1: what has triggered that weakness today was Trump saying yesterday
Speaker 1: that he had made a lot of progress in the
Speaker 1: talks with Zelensky over that potential peace deal, and Zelenski
Speaker 1: saying that the peace framework was ninety percent agreed. It's
Speaker 1: important to note that there has been no major breakthrough,
Speaker 1: and there still remains a few sticking points, including what
Speaker 1: is going to happen to the Donbas region, which is
Speaker 1: currently being partially occupied by Russian forces. So we are
Speaker 1: not that much closer to getting a ceasefire. But the
Speaker 1: fact that Trump and Zelenski are both kind of striking
Speaker 1: the really optimistic tone is sending those defense stocks down.
Speaker 1: As is usual when we've got kind of talks about
Speaker 1: peace progressing.
Speaker 3: Okay, and turning to a company, we don't talk about
Speaker 3: it very often. International Personal Finance IPF involved in a
Speaker 3: bi tell us more.
Speaker 1: Yeah, so M and A doesn't really stop for Christmas.
Speaker 1: So we had some bankers working over the last week
Speaker 1: the US based direct a landing company, base Point Capital
Speaker 1: has announced that it is acquiring IPF this morning. So
Speaker 1: IPF is a consumer loan provider and it operates primarily
Speaker 1: in Eastern Europe and in Mexico. And the deal is
Speaker 1: valuing the company at four hundred no sorry five one
Speaker 1: hundred and forty three million pounds. So this follows a
Speaker 1: courtship over the last few months. We had an initial
Speaker 1: approach in July, another in September, and then in November
Speaker 1: a base Point added a dividend payment to its proposal
Speaker 1: and so that seemed to have sweetened the deal enough
Speaker 1: that IPF accepted and investors seem quite happy with the
Speaker 1: IPF's future as part of base Point, and we have
Speaker 1: got those shares up quite strongly this morning on the
Speaker 1: back of that late December m.
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