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

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Speaker 2: Stock Movers Report, 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 have a look at some stocks on the move

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Speaker 3: today Here in EUP, I'm Caroline Hepgar with Tom McKenzie.

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Speaker 3: We're joined by Bloomberg's Breaking News editor Louise Moon. Good morning, Louise.

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Speaker 3: Let's start by thinking about Matt West earnings. A beat

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Speaker 3: on operating profit, pretty pretty strong set of results, right,

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Speaker 3: what do investors make of it?

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Speaker 1: Indeed, yeah, investors are seemingly very happy. She shares a

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Speaker 1: sort of fifteen year high this morning on the back

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Speaker 1: of that. So as you say, they're third quarter results

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Speaker 1: beating estimates across the board really on a number of metrics,

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Speaker 1: So taking pretext profit for example, it was thirty percent

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Speaker 1: higher than last year, and this is the highest earnings

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Speaker 1: in at least a decade. So a strong set of results,

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Speaker 1: essentially benefiting from higher interest rates or continued at higher

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Speaker 1: interest rates. And there was a on top of that

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Speaker 1: quote from the CEO saying they're becoming a much simpler

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Speaker 1: bank with tight control of costs, supporting the digital transformation,

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Speaker 1: so a bit of a transformation and interest rates benefiting them.

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Speaker 1: If you compare it, compare it to Lloyd's for example, yesday,

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Speaker 1: we've had we've had a host of banking updates this week.

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Speaker 1: If you compared it to Lloyds yesday, it was a

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Speaker 1: lot more positive. But obviously it has to be noted

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Speaker 1: that Lloyds took a big hit from the motor provision

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Speaker 1: Moti finance provision. But if you take a step back

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Speaker 1: and look at all the earnings, essentially they're they're kind

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Speaker 1: of signaling that Brits or customers are coping well with

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Speaker 1: the economic headwinds at the moment. And then we had

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Speaker 1: retail Stata this morning that pointed to it to a

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Speaker 1: similar kind of trend. And we've got more coming next

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Speaker 1: week to got HSBC and Standard Chartered coming next week,

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Speaker 1: but so far coming in quite strong.

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Speaker 4: And that was really strong this morning and Louise in

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Speaker 4: the drug space and the pharmaceutical space, GSK shares dropping

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Speaker 4: there about one point six percent right now. What is

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Speaker 4: behind the drop and the fall in the stock price

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Speaker 4: for GSK, So when you first look at it seems

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Speaker 4: like positive news.

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Speaker 1: So US regulators have approved GSK's blood cancer drug that's

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Speaker 1: called blend Rep, so they can obviously now bring that

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Speaker 1: medicine to the US, which is the world's biggest pharmaceutical market.

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Speaker 1: That they had pulled the drug in twenty twenty two,

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Speaker 1: there were questions about how effective it was, but now

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Speaker 1: they can now bring that back to the market, so

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Speaker 1: it's quite important milestone. The drug is very critical to

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Speaker 1: GSK's revenue ambitions. But as you say, shares are dropping

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Speaker 1: that they're dragging the footze hundred this morning in London.

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Speaker 1: This is because despite being improved that there are a

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Speaker 1: lot of caveats that have come with that approval, So

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Speaker 1: the eligibility Paul of who can use it is smaller

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Speaker 1: than expected.

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Speaker 4: It can now be used for slightly in slightly.

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Speaker 1: More advanced scenarios that than had been expected, so there

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Speaker 1: are concerns about the potential for sale, so the viability

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Speaker 1: of its commercial opportunity. So that's what's really dragging the

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Speaker 1: shares this morning, despite that that important milestone being reached.

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Speaker 3: Meanwhile, our core shares gaining after the hotelier's a guidance

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Speaker 3: was increased.

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Speaker 1: Yeah, raised guidance this morning essentially on the back of

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Speaker 1: cost savings, so they've been simplifying of their portfolio. There

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Speaker 1: was also a host of other positive news alongside their earnings,

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Speaker 1: so they issued a new buyback that's one hundred million euros.

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Speaker 4: That's for the fourth quarter.

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Speaker 1: They also might list their lifestyle brands portfolio that has

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Speaker 1: been touted before, but they've confirmed that this morning.

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Speaker 4: And this is all with their third quarter earnings.

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Speaker 1: They came in line with esmates quite positive comments about

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Speaker 1: their current trading. There is still some potential weaknesses there

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Speaker 1: in some large markets like Germany and China, but shares

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Speaker 1: shot up in France and are now slightly higher than

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Speaker 1: a year ago, kind of continuing that positive trajectory.

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Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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