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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.

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Speaker 2: Stock Movers podcast, your roundup of companies making moves in

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Speaker 2: the stock market. Harnessing the power of Bloomberg data.

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Speaker 3: Let's take a look at some stocks on the move

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Speaker 3: today in Europe. Were joined by Bloomberg's Equities Report to

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Speaker 3: Joe Easton Joe, we're seeing a broad sell off across

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Speaker 3: European equities on the back of these towns kicking into place.

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Speaker 3: But Farmer really getting hit hard. What's behind that?

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Speaker 1: Yeah, Farmer looking really really tough. In terms of the

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Speaker 1: trading there, we're seeing the likes of Novo Notice down

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Speaker 1: five and a half percent, Astrozeneka down six percent, of

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Speaker 1: Vartis six percent, all of the big stocks with heavy

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Speaker 1: US exposure coming down quite a lot. Now, Trump yesterday

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Speaker 1: or last night saying that the US is set to

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Speaker 1: announce a major tariff on pharmaceutical soon, though as usual

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Speaker 1: there's very little in terms of details on that. However,

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Speaker 1: it is kind of one of the sectors that thus

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Speaker 1: far has avoided getting some specific terrorists. But this does

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Speaker 1: seem to be priced again. We saw losses overnight in

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Speaker 1: AGYPT some stocks over in Japan in terms of the

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Speaker 1: farmer sector were down as much as ten percent, and

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Speaker 1: that is feeding through into Europe by far the worst

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Speaker 1: performing sector in terms of the sector makeup, with the

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Speaker 1: stocks healthcare index down four point four percent.

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Speaker 4: Yeah, it's certainly very interesting one to watch in terms

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Speaker 4: of what happens next in the tariff story. So on

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Speaker 4: the stock Sex hundred at the moment, Joe Route twenty

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Speaker 4: companies are in the green, everything else is selling off.

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Speaker 4: BA Systems one of the outperformers. What's going on there?

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Speaker 1: Yeah, so we are seeing some ou performance in the

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Speaker 1: defense sector as you mentioned, particularly BA Systems, but also

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Speaker 1: some of the other names. Ryan Mattau and he down

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Speaker 1: around one percent versus a border market down three percent

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Speaker 1: ly and not as similar. But BAE actually in the

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Speaker 1: green as you mentioned there. So what's happening here is

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Speaker 1: there are reports over the past couple of days that

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Speaker 1: the US could potentially ramp up spending, including around one

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Speaker 1: trillion dollars in defense spending in f Y twenty twenty six.

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Speaker 1: That would be up from eight hundred and ninety two billion,

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Speaker 1: so a twelve percent year on year increase, and that

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Speaker 1: is seen to be a big boost BAE. It makes

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Speaker 1: around a fifty percent of its sales over in the US.

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Speaker 1: It makes warships, it makes tanks, it makes pretty much

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Speaker 1: everything in the US being a huge market for them.

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Speaker 1: So that does seem to be accounting for the moves

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Speaker 1: in that stock today and potentially given the sell off

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Speaker 1: we've seen in defense, it's kind of rebounding a little bit,

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Speaker 1: but definitely continues to be an our performer across that sector.

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Speaker 3: And Joe very different space. But you're also yours have

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Speaker 3: an eye on on ITV. What's the story there?

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Speaker 1: Yes, so ITV sliding today, We're down. We were down

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Speaker 1: around eight percent at the lowest of the day. That

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Speaker 1: was the biggest drop or the biggest the lowest level

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Speaker 1: since November. In fact, for ITV stock, this comes as

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Speaker 1: ubs downgrades as the stock to sell. They recommend selling

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Speaker 1: due to two things. The first thing is ad revenue,

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Speaker 1: who is going to decline due to the weak economy,

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Speaker 1: so advertising spending does tend to track the economic growth

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Speaker 1: pretty closely and therefore they think that's negative. And also

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Speaker 1: streaming competition, itv X facing potential competition, so the usual

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Speaker 1: guys like Netflix and that kind of thing will be

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Speaker 1: the hits there. I did have a quick look at

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Speaker 1: it v X most watched on there today. You'll be

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Speaker 1: interested to know Selepty Big Brother, which I didn't know

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Speaker 1: was still around, but ITV stock down five percent of

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Speaker 1: the moment as ubs recommends selling.

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Speaker 4: That suggests you haven't been invited on Ye.

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Speaker 3: Well maybe this is my pitch that would get me

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Speaker 3: to tune in. Yeah, nothing else, Joe, Look.

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Speaker 1: If the producers are out there, give me a cool

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Speaker 1: is available?

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Speaker 4: Okay, Joe Eastern, our equities reporter.

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Speaker 2: Thank you. The Stock Movers podcast from Bloomberg Radio. Check

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Speaker 2: back with us throughout the day for the latest roundup

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Speaker 2: of companies making news on Wall Street and for the

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