Speaker 1: Bloomberg Audio Studios podcasts, radio news, The Stock Movers podcast,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Let's take a closer look at some of the stocks
Speaker 2: on the move today in Europe. I'm Caroline Hepka and
Speaker 2: I'm joined by Bloomberg's Markets Today sam Onsteed for more
Speaker 2: on this story. Should we kick things off with the
Speaker 2: French fashion giant Airmes not very good news for them
Speaker 2: this morning. Is this on tariffs or something else?
Speaker 3: Oh well, good morning, Caroline. It's actually a combination of
Speaker 3: a couple of things. So tariff's in general the luxury
Speaker 3: sector getting hit quite hard today. That's despite actually some
Speaker 3: decent Chinese data coming out. You know, very often good
Speaker 3: data up of China lifts the luxury sector. So is
Speaker 3: that tariffs are overshadowing that today. So most of the
Speaker 3: sector is in the red. Hermez is taking a little
Speaker 3: bit of a harder hit. They got a downgraded from
Speaker 3: Jeffries and it's part of a broader story that you know,
Speaker 3: the luxury market has been in a bit of a downturn.
Speaker 3: More tariffs, more concerns about the global economy are preventing
Speaker 3: that any kind of recovery coming through for the luxury market.
Speaker 3: And that's what Jeffries, who downgraded in MS today say
Speaker 3: they struggle to see them getting back to the kind
Speaker 3: of peak valuations that they've been at in the last
Speaker 3: couple of years.
Speaker 2: Yeah, absolutely so. And these are of course amongst Europe's
Speaker 2: most valuable companies, the kind of luxury goods makers. Astra
Speaker 2: Zeneca's new blockbuster drug positive signs in the latest trials.
Speaker 2: How's the market taking that?
Speaker 3: Yeah, So this is an experimental hypertension drug. I'm going
Speaker 3: to attempt the name for you, Carolina, it's Backstrostat. They
Speaker 3: bought this drug a couple of years ago when they
Speaker 3: bought a company called Sincore Farmer, and they at the
Speaker 3: time identified this drug as having potential sales of upwards
Speaker 3: of five billion dollars a year, so would be a
Speaker 3: major drug within their portfolio and a blockbuster. They got
Speaker 3: very good results from it, so it met all of
Speaker 3: the end points that were required in the trial that
Speaker 3: they just had, so it puts it on the part
Speaker 3: of potentially becoming a kind of blockbuster drug. So Astrosenica
Speaker 3: shares up about two percent, and actually that's helping to
Speaker 3: lift the UK's Futotzy one hundred into positive territory today.
Speaker 3: So although most stocks across Europe are falling because of
Speaker 3: the tariff news and most benchmarks are down, the Footy
Speaker 3: one hundred is actually out performing and a big part
Speaker 3: of that is astrosenicas shares.
Speaker 2: Rising, Okayseneca. Then we also have the German chemicals firm
Speaker 2: Brent Tag dropping they've given us their full year guidance, yeah.
Speaker 3: And a cut to their full year guidance and less
Speaker 3: actually saying it's not totally surprising that that had happened,
Speaker 3: that their shares have dropped about four or five percent.
Speaker 3: For the most part, you know, the chemicals companies are
Speaker 3: right at the center of many many supply chains, and
Speaker 3: so when you get any kind of concern about an
Speaker 3: industrial slowdown, about any weaknesses on either side kind of
Speaker 3: any kind of industrial market, and then particularly Inermany at
Speaker 3: the moment, those companies get hit very hard. Brent tug
Speaker 3: As I say, unless don't think it's enormously surprising because
Speaker 3: of all the tariff news that's been coming through and
Speaker 3: the concerns that's that's creating for the industrial market and
Speaker 3: a slowdown in orders for brentug but still a profit.
Speaker 3: A profit warning and you know, very early in the season,
Speaker 3: so it doesn't read very well for the rest of
Speaker 3: the reporting season for German German chemicals companies.
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