1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios podcasts, radio news, The Stock Movers podcast, 2 00:00:10,800 --> 00:00:14,040 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:14,240 --> 00:00:16,480 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:17,920 --> 00:00:19,880 Speaker 2: Let's take a closer look at some of the stocks 5 00:00:20,000 --> 00:00:22,079 Speaker 2: on the move today in Europe. I'm Caroline Hepka and 6 00:00:22,079 --> 00:00:26,560 Speaker 2: I'm joined by Bloomberg's Markets Today sam Onsteed for more 7 00:00:26,600 --> 00:00:29,400 Speaker 2: on this story. Should we kick things off with the 8 00:00:29,440 --> 00:00:32,880 Speaker 2: French fashion giant Airmes not very good news for them 9 00:00:32,880 --> 00:00:35,640 Speaker 2: this morning. Is this on tariffs or something else? 10 00:00:37,320 --> 00:00:40,000 Speaker 3: Oh well, good morning, Caroline. It's actually a combination of 11 00:00:40,080 --> 00:00:43,960 Speaker 3: a couple of things. So tariff's in general the luxury 12 00:00:43,960 --> 00:00:46,680 Speaker 3: sector getting hit quite hard today. That's despite actually some 13 00:00:46,840 --> 00:00:50,000 Speaker 3: decent Chinese data coming out. You know, very often good 14 00:00:50,040 --> 00:00:52,720 Speaker 3: data up of China lifts the luxury sector. So is 15 00:00:52,720 --> 00:00:55,040 Speaker 3: that tariffs are overshadowing that today. So most of the 16 00:00:55,040 --> 00:00:58,240 Speaker 3: sector is in the red. Hermez is taking a little 17 00:00:58,240 --> 00:01:00,360 Speaker 3: bit of a harder hit. They got a downgraded from 18 00:01:00,480 --> 00:01:03,760 Speaker 3: Jeffries and it's part of a broader story that you know, 19 00:01:03,800 --> 00:01:05,760 Speaker 3: the luxury market has been in a bit of a downturn. 20 00:01:06,200 --> 00:01:10,240 Speaker 3: More tariffs, more concerns about the global economy are preventing 21 00:01:10,319 --> 00:01:14,080 Speaker 3: that any kind of recovery coming through for the luxury market. 22 00:01:14,280 --> 00:01:17,760 Speaker 3: And that's what Jeffries, who downgraded in MS today say 23 00:01:17,800 --> 00:01:19,640 Speaker 3: they struggle to see them getting back to the kind 24 00:01:19,640 --> 00:01:21,560 Speaker 3: of peak valuations that they've been at in the last 25 00:01:21,600 --> 00:01:22,240 Speaker 3: couple of years. 26 00:01:22,680 --> 00:01:26,680 Speaker 2: Yeah, absolutely so. And these are of course amongst Europe's 27 00:01:26,720 --> 00:01:30,720 Speaker 2: most valuable companies, the kind of luxury goods makers. Astra 28 00:01:30,800 --> 00:01:35,800 Speaker 2: Zeneca's new blockbuster drug positive signs in the latest trials. 29 00:01:35,880 --> 00:01:37,320 Speaker 2: How's the market taking that? 30 00:01:38,959 --> 00:01:42,360 Speaker 3: Yeah, So this is an experimental hypertension drug. I'm going 31 00:01:42,360 --> 00:01:46,640 Speaker 3: to attempt the name for you, Carolina, it's Backstrostat. They 32 00:01:46,680 --> 00:01:48,600 Speaker 3: bought this drug a couple of years ago when they 33 00:01:48,600 --> 00:01:51,440 Speaker 3: bought a company called Sincore Farmer, and they at the 34 00:01:51,440 --> 00:01:54,400 Speaker 3: time identified this drug as having potential sales of upwards 35 00:01:54,440 --> 00:01:57,040 Speaker 3: of five billion dollars a year, so would be a 36 00:01:57,200 --> 00:02:00,720 Speaker 3: major drug within their portfolio and a blockbuster. They got 37 00:02:00,800 --> 00:02:03,040 Speaker 3: very good results from it, so it met all of 38 00:02:03,080 --> 00:02:05,680 Speaker 3: the end points that were required in the trial that 39 00:02:05,720 --> 00:02:07,720 Speaker 3: they just had, so it puts it on the part 40 00:02:07,800 --> 00:02:10,960 Speaker 3: of potentially becoming a kind of blockbuster drug. So Astrosenica 41 00:02:11,000 --> 00:02:13,720 Speaker 3: shares up about two percent, and actually that's helping to 42 00:02:13,800 --> 00:02:16,960 Speaker 3: lift the UK's Futotzy one hundred into positive territory today. 43 00:02:17,000 --> 00:02:19,640 Speaker 3: So although most stocks across Europe are falling because of 44 00:02:19,680 --> 00:02:22,400 Speaker 3: the tariff news and most benchmarks are down, the Footy 45 00:02:22,400 --> 00:02:24,200 Speaker 3: one hundred is actually out performing and a big part 46 00:02:24,240 --> 00:02:25,880 Speaker 3: of that is astrosenicas shares. 47 00:02:25,720 --> 00:02:30,600 Speaker 2: Rising, Okayseneca. Then we also have the German chemicals firm 48 00:02:30,960 --> 00:02:37,200 Speaker 2: Brent Tag dropping they've given us their full year guidance, yeah. 49 00:02:37,160 --> 00:02:39,079 Speaker 3: And a cut to their full year guidance and less 50 00:02:39,080 --> 00:02:41,640 Speaker 3: actually saying it's not totally surprising that that had happened, 51 00:02:41,639 --> 00:02:43,600 Speaker 3: that their shares have dropped about four or five percent. 52 00:02:44,760 --> 00:02:47,200 Speaker 3: For the most part, you know, the chemicals companies are 53 00:02:47,400 --> 00:02:50,560 Speaker 3: right at the center of many many supply chains, and 54 00:02:50,600 --> 00:02:53,480 Speaker 3: so when you get any kind of concern about an 55 00:02:53,520 --> 00:02:56,880 Speaker 3: industrial slowdown, about any weaknesses on either side kind of 56 00:02:57,560 --> 00:03:00,520 Speaker 3: any kind of industrial market, and then particularly Inermany at 57 00:03:00,520 --> 00:03:04,000 Speaker 3: the moment, those companies get hit very hard. Brent tug 58 00:03:04,120 --> 00:03:07,959 Speaker 3: As I say, unless don't think it's enormously surprising because 59 00:03:08,040 --> 00:03:09,919 Speaker 3: of all the tariff news that's been coming through and 60 00:03:09,960 --> 00:03:13,400 Speaker 3: the concerns that's that's creating for the industrial market and 61 00:03:13,480 --> 00:03:17,160 Speaker 3: a slowdown in orders for brentug but still a profit. 62 00:03:17,600 --> 00:03:19,960 Speaker 3: A profit warning and you know, very early in the season, 63 00:03:20,000 --> 00:03:22,240 Speaker 3: so it doesn't read very well for the rest of 64 00:03:22,280 --> 00:03:25,080 Speaker 3: the reporting season for German German chemicals companies. 65 00:03:26,320 --> 00:03:30,440 Speaker 1: The Stock Movers podcast from Bloomberg Radio. Check back with 66 00:03:30,520 --> 00:03:33,320 Speaker 1: us throughout the day for the latest roundup of companies 67 00:03:33,360 --> 00:03:36,400 Speaker 1: making news on Wall Street and for the latest market 68 00:03:36,440 --> 00:03:40,800 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 69 00:03:40,840 --> 00:03:44,080 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Otto with 70 00:03:44,160 --> 00:03:45,600 Speaker 1: the Bloomberg Business app.