WEBVTT - Fresnillo Rises, Barclays Falls, Abivax Surges

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

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<v Speaker 2>The Stock Movers Report, 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 stocks on the move

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<v Speaker 3>today in Europe. I'm Stephen Carroll and I'm joined by

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<v Speaker 3>Bloomberg's Breaking News editor Louise Louise. Good morning. Let's start

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<v Speaker 3>with the miners. Their names like Fresnelo are rallying. What's

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<v Speaker 3>behind us?

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<v Speaker 1>Indeed, ye, Fresnelo is leading the foot See one hundred

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<v Speaker 1>with its gains, and then also up there among the

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<v Speaker 1>top rises on the FOOTWEO hundred, you've got en Devor Mining,

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<v Speaker 1>on the foot Sea two fifty, you've got Hotshild Mining,

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<v Speaker 1>Pan African Resources, and essentially they're all rallying after gold

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<v Speaker 1>and silver have a hit record highs. Obviously, this is

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<v Speaker 1>on the back of you know, the US Justice Department

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<v Speaker 1>threatening the FED with cron indictment. There's independence concerns around that.

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<v Speaker 1>There's also protests in Iran, and so there's you know,

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<v Speaker 1>this this stronger demand for safer assets and this is

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<v Speaker 1>pushing precious metals up, and then with that the miners.

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<v Speaker 1>So then as I say, they're they're really leading the

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<v Speaker 1>gains across the indexes this morning in London.

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<v Speaker 3>Okay, so that's on Fresnillo and miners this morning. We're

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<v Speaker 3>also watching shares in Barclays though, falling after the President

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<v Speaker 3>Trump's comments about credit card rates.

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<v Speaker 1>Indeed, yeah, so on the other end of the spectrum,

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<v Speaker 1>we've got Barkleays the biggest loser on the foot see

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<v Speaker 1>hundred in London this morning. As you say, falling fell

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<v Speaker 1>as much as four point eight percent this morning on

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<v Speaker 1>the back of these Trump comments. These were said on Sunday,

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<v Speaker 1>essentially saying that credit card lenders would be in violation

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<v Speaker 1>of the law if they don't do what he says

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<v Speaker 1>or he suggests and cap interest rates at ten percent

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<v Speaker 1>for one year. So he set a January twentieth deadline

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<v Speaker 1>for compliance on that for these banks to comply on that.

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<v Speaker 1>It's not you know, his demand is not backed up

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<v Speaker 1>by legislation, So it's not totally clear how these banks

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<v Speaker 1>would be breaking the law if they didn't comply with

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<v Speaker 1>what Trump says. But obviously it's bringing the into the crosshairs,

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<v Speaker 1>and you know, comments like that from Trump obviously move

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<v Speaker 1>markets a lot mover stop prices a lot. So Barclays

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<v Speaker 1>is the British one that's kind of moving on the

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<v Speaker 1>back of that. It's very exposed. It's got a US

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<v Speaker 1>credit card business. It makes about a third of its

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<v Speaker 1>net revenue in the US. So shares being pulled down

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<v Speaker 1>into the red quite heavily on the back of those comments.

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<v Speaker 3>Okay, and a huge surge in shares in the French

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<v Speaker 3>biotech for an abbi vax what's going on.

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<v Speaker 1>Indeed, as much as thirty one percent they're gains this morning.

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<v Speaker 1>This is about speculation about a possible takeover. So it's

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<v Speaker 1>already kind of been viewed as an attractive acquisition asset.

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<v Speaker 1>Their shares have risen hugely over the past year, almost

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<v Speaker 1>two thousand percent, on the view that it would be

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<v Speaker 1>an attractive acquisition target. And this is partly based around

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<v Speaker 1>they're expecting clinical trial results this year for a key drug,

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<v Speaker 1>for an experimental drug for inflammatory bowders, and so because

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<v Speaker 1>of that, you know, there's analyst saying that you can't

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<v Speaker 1>ignore that this would be one of the most used

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<v Speaker 1>products in the next decade. Because of that, it's becoming

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<v Speaker 1>or expecting to become an attractive acquisition target. The latest

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<v Speaker 1>speculation being reported by French media is that Eli Lilly

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<v Speaker 1>is ready to make an offer and that's for fifteen

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<v Speaker 1>billion euros to buy it. The company hasn't confirmed this,

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<v Speaker 1>but that is what's being reported, and you know they've

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<v Speaker 1>they've declined to comment about that. But as I say,

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<v Speaker 1>it's being positioned as a takeover target. There's eyes on it.

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<v Speaker 1>Shares a surging on the back of this, so we'll

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<v Speaker 1>becoming a close eye for this potential big MNA deal.

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