Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, 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 of the stocks on
Speaker 3: the move today in Europe. We've got our breaking news
Speaker 3: editor Louise Moon with us for that. I'm Stephen Carroll,
Speaker 3: joined by Lizzie Burdon Louise. Let's start with Lloyd's saying
Speaker 3: it will set aside another eight hundred million pounds in
Speaker 3: compensation for motor finance claims to us.
Speaker 1: More indeed, yes, so it's really it's laid out this
Speaker 1: morning the exact additional amount that it's going to take.
Speaker 1: So it had already set aside over a billion pounds,
Speaker 1: so one point one five billion pounds. And then last week,
Speaker 1: following the FCA's ruling last week, they said there would
Speaker 1: be another provision and that would be what they called
Speaker 1: material at the time. So markets when reacting to that
Speaker 1: last week, and then this morning they've said how much
Speaker 1: of this So it's going to be another eight hundred
Speaker 1: ches did rise into the green after that, As I say,
Speaker 1: they had already warned it would be material, and then
Speaker 1: There was an interesting note actually this morning from Billion
Speaker 1: Bank Intelligence saying that they think that this additional amount
Speaker 1: won't derail their shareholder distribution plan, so this is obviously
Speaker 1: a positive, and that total provisions were kind of largely
Speaker 1: in line with the general consensus from the bank. So
Speaker 1: it seems that the bad news has already kind of
Speaker 1: been priced in it and shares are actually rising this
Speaker 1: morning despite that additional eight hundred million pound provision. I mean,
Speaker 1: whilawis we've got Blackstone Vega bid for Big Yellow Group. Indeed, yeah,
Speaker 1: this is a self storage company, landlord across the UK,
Speaker 1: big name, you'll say, they're big billboards everywhere. So Blackstone
Speaker 1: is in the early stages of money a bid. Big
Speaker 1: Yellow Group has a market cap of about two billion pounds,
Speaker 1: so if a bid comes to light, you know, it
Speaker 1: could be quite sizable. They say they're considering the macro environment,
Speaker 1: the potential impact of the UK budget and what that
Speaker 1: will mean for the wider space. But shares a Big
Speaker 1: Yellow Group really rising on this, up about twenty percent
Speaker 1: of the most on record this morning. And this isn't
Speaker 1: the kind of the first deal that Blackstone has been making.
Speaker 1: What is making in the space they bought Warehouse Reached
Speaker 1: earlier this year. And then this morning Blackstone Europe also
Speaker 1: announced they're going to be they're selling their logistics assets
Speaker 1: to tri Tax Big Box Read and that's for just
Speaker 1: over a billion pounds and then they're going to take
Speaker 1: a stake in Tri Tax as a result, and Tritax
Speaker 1: was also rising on that. So a lot of movement
Speaker 1: in the landlord space and Blackstone a big part of
Speaker 1: that as well.
Speaker 3: We've also been watching astra Zeneca shares this morning as well.
Speaker 3: Talk us through what's been happening.
Speaker 1: So there was news after market clothes late on Friday
Speaker 1: the AstraZeneca, the pharmagiant list in London, had made a
Speaker 1: deal with the Trump administration and that was to lower
Speaker 1: some of their prices, their consumer prices on drugs in
Speaker 1: the US in exchange for a relief on tariffs. So
Speaker 1: that's for three years. So obviously this came after the
Speaker 1: market clothes on Friday, so we're getting some market reaction
Speaker 1: this morning on that. Initially shares were up and Les
Speaker 1: was saying, you know, this wild likely provide some relief.
Speaker 1: It's quite a similar deal to an earlier one that
Speaker 1: Pfizer did one of their and it shows kind of
Speaker 1: a willingness from the US to preserve Sextor fundamentals, so
Speaker 1: that the shares were initially rising, they are now trading
Speaker 1: slightly lower. That there's a lot of uncertainty essentially around
Speaker 1: in the sector and also Astrazenek, and it's been kind
Speaker 1: of battering their share prices over the past here or so,
Speaker 1: to do with pricing, to do with tarifs, it's been
Speaker 1: a big overhang. So potentially some of the uncertiety is
Speaker 1: still there, but we'll be keeping an eye on their
Speaker 1: share price through the day.
Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.