WEBVTT - Sanofi Falls, M&G Rises, Gap Down (podcast)

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers podcast, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

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<v Speaker 3>Let's take a look at some of the stocks on

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<v Speaker 3>the move today here in Europe. I'm Caroline Hepkit with

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<v Speaker 3>Lizzie Burden and we're joined by Blue Begs Equities report

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<v Speaker 3>at Joe Eason Goodborney. Sanofi trials are not the sort

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<v Speaker 3>of breath of fresh air that markets were really hoping

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<v Speaker 3>for talking about drug trials today.

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<v Speaker 1>Yes, so this is actually the big shock of the

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<v Speaker 1>morning in terms of the market moves. So we're seeing

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<v Speaker 1>SINOFEE shares down currently around seven percent. Now that is

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<v Speaker 1>a pretty big move for that stock. It is continuing

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<v Speaker 1>to decline as I speak. Now this is all on

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<v Speaker 1>a drug trial data just bring out. That's the biggest

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<v Speaker 1>move in around eighteen months for that stock currently. So

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<v Speaker 1>it's not the announcing some trial data for a drug

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<v Speaker 1>that is treating former smokers that had a lung condition.

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<v Speaker 1>Now it's not been as successful as they had hoped unfortunately,

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<v Speaker 1>and therefore the market is kind of writing down the

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<v Speaker 1>value of this drug.

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<v Speaker 2>It was said to.

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<v Speaker 1>Be worth around five billion in terms of peak sales

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<v Speaker 1>if they can get it approved. But at the moment

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<v Speaker 1>there were two elements to the trial and one of

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<v Speaker 1>them has clearly disappointed investors. Analyst telling me today that

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<v Speaker 1>it was not the home run that they expected it

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<v Speaker 1>to be. So that is the reason for Snoffee down today. Now,

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<v Speaker 1>Sam for the ticker there on that one, that's a shame.

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<v Speaker 1>But we are looking at MG shares up quite a

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<v Speaker 1>fair bit, up six point four percent.

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<v Speaker 2>MG looking at some m and a.

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<v Speaker 1>Yes, MNG, the ticker being MNG on that onset. That's

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<v Speaker 1>an easy one to remember. That one is up around

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<v Speaker 1>nine percent today. Deitchi Life over in Japan buying a

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<v Speaker 1>fifteen cent steak in the UK life insurer. Now, this

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<v Speaker 1>will do two things. Firstly, it will improve their cooperation

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<v Speaker 1>together in terms of the life insurance market cooperation and

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<v Speaker 1>also on the more asset management side, it will provide

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<v Speaker 1>at least six billion dollars in new flows for MNG.

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<v Speaker 1>MNG being one of the UK's biggest asset managers and

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<v Speaker 1>life insurance companies. It did reduce some of their life

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<v Speaker 1>some of their asset management business previously, but still have

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<v Speaker 1>a decent stake. There is that one the best performer

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<v Speaker 1>in the UK op six percent currently.

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<v Speaker 3>Okay, and what about Gap looking at a hole in

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<v Speaker 3>their Asia sales. I know we look. We like the puns.

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<v Speaker 3>We try to keep a bit lighted.

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<v Speaker 1>The yeah yeah Gap there. Yeah, so Gap with a

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<v Speaker 1>gap in their sales missing expectations. So they were predicting

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<v Speaker 1>growth of around two percent in terms of sales growth.

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<v Speaker 1>That was below some of the analyst expectations. That came

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<v Speaker 1>after the market yesterday, Gap shares absolutely tanked. They were

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<v Speaker 1>down fifteen percent in the post market. We saw some

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<v Speaker 1>weakness coming through into Zara. Well the owner of Zara

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<v Speaker 1>indetects it X that one was down around one percent

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<v Speaker 1>of the open HMBH and M that was also down.

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<v Speaker 1>They have actually recovered recently, some analysts saying that it

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<v Speaker 1>is specifically weakness over in Gaps Banana Republic brand, which

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<v Speaker 1>I don't think we really have much of. Hero. I

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<v Speaker 1>don't think I've got any of that myself. I did

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<v Speaker 1>us the love Gap when we had the stores, but

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<v Speaker 1>they closed all the Gap stores in the UK, so

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<v Speaker 1>line yeah it's all online now.

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<v Speaker 3>Yeah.

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<v Speaker 1>I used to pop in there on my lunch break. Actually,

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<v Speaker 1>but now it's they don't seem to be around anymore. Sadly,

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<v Speaker 1>but gap feeding through a bit of weakness and the

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<v Speaker 1>UK clothing retail stocks down again today.

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<v Speaker 2>The Stock Movers podcast from Bloomberg Radio. Check back with

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<v Speaker 2>Bloomberg Business app. Mm hmm,