Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers podcast, your roundup of companies making moves
Speaker 2: in 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 here in Europe. I'm Caroline Hepkit with
Speaker 3: Lizzie Burden and we're joined by Blue Begs Equities report
Speaker 3: at Joe Eason Goodborney. Sanofi trials are not the sort
Speaker 3: of breath of fresh air that markets were really hoping
Speaker 3: for talking about drug trials today.
Speaker 1: Yes, so this is actually the big shock of the
Speaker 1: morning in terms of the market moves. So we're seeing
Speaker 1: SINOFEE shares down currently around seven percent. Now that is
Speaker 1: a pretty big move for that stock. It is continuing
Speaker 1: to decline as I speak. Now this is all on
Speaker 1: a drug trial data just bring out. That's the biggest
Speaker 1: move in around eighteen months for that stock currently. So
Speaker 1: it's not the announcing some trial data for a drug
Speaker 1: that is treating former smokers that had a lung condition.
Speaker 1: Now it's not been as successful as they had hoped unfortunately,
Speaker 1: and therefore the market is kind of writing down the
Speaker 1: value of this drug.
Speaker 2: It was said to.
Speaker 1: Be worth around five billion in terms of peak sales
Speaker 1: if they can get it approved. But at the moment
Speaker 1: there were two elements to the trial and one of
Speaker 1: them has clearly disappointed investors. Analyst telling me today that
Speaker 1: it was not the home run that they expected it
Speaker 1: to be. So that is the reason for Snoffee down today. Now,
Speaker 1: Sam for the ticker there on that one, that's a shame.
Speaker 1: But we are looking at MG shares up quite a
Speaker 1: fair bit, up six point four percent.
Speaker 2: MG looking at some m and a.
Speaker 1: Yes, MNG, the ticker being MNG on that onset. That's
Speaker 1: an easy one to remember. That one is up around
Speaker 1: nine percent today. Deitchi Life over in Japan buying a
Speaker 1: fifteen cent steak in the UK life insurer. Now, this
Speaker 1: will do two things. Firstly, it will improve their cooperation
Speaker 1: together in terms of the life insurance market cooperation and
Speaker 1: also on the more asset management side, it will provide
Speaker 1: at least six billion dollars in new flows for MNG.
Speaker 1: MNG being one of the UK's biggest asset managers and
Speaker 1: life insurance companies. It did reduce some of their life
Speaker 1: some of their asset management business previously, but still have
Speaker 1: a decent stake. There is that one the best performer
Speaker 1: in the UK op six percent currently.
Speaker 3: Okay, and what about Gap looking at a hole in
Speaker 3: their Asia sales. I know we look. We like the puns.
Speaker 3: We try to keep a bit lighted.
Speaker 1: The yeah yeah Gap there. Yeah, so Gap with a
Speaker 1: gap in their sales missing expectations. So they were predicting
Speaker 1: growth of around two percent in terms of sales growth.
Speaker 1: That was below some of the analyst expectations. That came
Speaker 1: after the market yesterday, Gap shares absolutely tanked. They were
Speaker 1: down fifteen percent in the post market. We saw some
Speaker 1: weakness coming through into Zara. Well the owner of Zara
Speaker 1: indetects it X that one was down around one percent
Speaker 1: of the open HMBH and M that was also down.
Speaker 1: They have actually recovered recently, some analysts saying that it
Speaker 1: is specifically weakness over in Gaps Banana Republic brand, which
Speaker 1: I don't think we really have much of. Hero. I
Speaker 1: don't think I've got any of that myself. I did
Speaker 1: us the love Gap when we had the stores, but
Speaker 1: they closed all the Gap stores in the UK, so
Speaker 1: line yeah it's all online now.
Speaker 3: Yeah.
Speaker 1: I used to pop in there on my lunch break. Actually,
Speaker 1: but now it's they don't seem to be around anymore. Sadly,
Speaker 1: but gap feeding through a bit of weakness and the
Speaker 1: UK clothing retail stocks down again today.
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