Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers podcast, your roundup of companies making moves in
Speaker 2: 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. Were joined by Bloomberg's Equities Report to
Speaker 3: Joe Easton Joe, we're seeing a broad sell off across
Speaker 3: European equities on the back of these towns kicking into place.
Speaker 3: But Farmer really getting hit hard. What's behind that?
Speaker 1: Yeah, Farmer looking really really tough. In terms of the
Speaker 1: trading there, we're seeing the likes of Novo Notice down
Speaker 1: five and a half percent, Astrozeneka down six percent, of
Speaker 1: Vartis six percent, all of the big stocks with heavy
Speaker 1: US exposure coming down quite a lot. Now, Trump yesterday
Speaker 1: or last night saying that the US is set to
Speaker 1: announce a major tariff on pharmaceutical soon, though as usual
Speaker 1: there's very little in terms of details on that. However,
Speaker 1: it is kind of one of the sectors that thus
Speaker 1: far has avoided getting some specific terrorists. But this does
Speaker 1: seem to be priced again. We saw losses overnight in
Speaker 1: AGYPT some stocks over in Japan in terms of the
Speaker 1: farmer sector were down as much as ten percent, and
Speaker 1: that is feeding through into Europe by far the worst
Speaker 1: performing sector in terms of the sector makeup, with the
Speaker 1: stocks healthcare index down four point four percent.
Speaker 4: Yeah, it's certainly very interesting one to watch in terms
Speaker 4: of what happens next in the tariff story. So on
Speaker 4: the stock Sex hundred at the moment, Joe Route twenty
Speaker 4: companies are in the green, everything else is selling off.
Speaker 4: BA Systems one of the outperformers. What's going on there?
Speaker 1: Yeah, so we are seeing some ou performance in the
Speaker 1: defense sector as you mentioned, particularly BA Systems, but also
Speaker 1: some of the other names. Ryan Mattau and he down
Speaker 1: around one percent versus a border market down three percent
Speaker 1: ly and not as similar. But BAE actually in the
Speaker 1: green as you mentioned there. So what's happening here is
Speaker 1: there are reports over the past couple of days that
Speaker 1: the US could potentially ramp up spending, including around one
Speaker 1: trillion dollars in defense spending in f Y twenty twenty six.
Speaker 1: That would be up from eight hundred and ninety two billion,
Speaker 1: so a twelve percent year on year increase, and that
Speaker 1: is seen to be a big boost BAE. It makes
Speaker 1: around a fifty percent of its sales over in the US.
Speaker 1: It makes warships, it makes tanks, it makes pretty much
Speaker 1: everything in the US being a huge market for them.
Speaker 1: So that does seem to be accounting for the moves
Speaker 1: in that stock today and potentially given the sell off
Speaker 1: we've seen in defense, it's kind of rebounding a little bit,
Speaker 1: but definitely continues to be an our performer across that sector.
Speaker 3: And Joe very different space. But you're also yours have
Speaker 3: an eye on on ITV. What's the story there?
Speaker 1: Yes, so ITV sliding today, We're down. We were down
Speaker 1: around eight percent at the lowest of the day. That
Speaker 1: was the biggest drop or the biggest the lowest level
Speaker 1: since November. In fact, for ITV stock, this comes as
Speaker 1: ubs downgrades as the stock to sell. They recommend selling
Speaker 1: due to two things. The first thing is ad revenue,
Speaker 1: who is going to decline due to the weak economy,
Speaker 1: so advertising spending does tend to track the economic growth
Speaker 1: pretty closely and therefore they think that's negative. And also
Speaker 1: streaming competition, itv X facing potential competition, so the usual
Speaker 1: guys like Netflix and that kind of thing will be
Speaker 1: the hits there. I did have a quick look at
Speaker 1: it v X most watched on there today. You'll be
Speaker 1: interested to know Selepty Big Brother, which I didn't know
Speaker 1: was still around, but ITV stock down five percent of
Speaker 1: the moment as ubs recommends selling.
Speaker 4: That suggests you haven't been invited on Ye.
Speaker 3: Well maybe this is my pitch that would get me
Speaker 3: to tune in. Yeah, nothing else, Joe, Look.
Speaker 1: If the producers are out there, give me a cool
Speaker 1: is available?
Speaker 4: Okay, Joe Eastern, our equities reporter.
Speaker 2: Thank you. The Stock Movers podcast from Bloomberg Radio. Check
Speaker 2: back with us throughout the day for the latest roundup
Speaker 2: of companies making news on Wall Street and for the
Speaker 2: latest market moving headlines. Listen to Bloomberg Radio Live, catch
Speaker 2: us on YouTube, Bloomberg dot com, and on Applecarplay and
Speaker 2: Android Auto with the Bloomberg Business app.