WEBVTT - WPP Gains, GSK Falls, Monte Paschi Up 

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

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>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 socks on

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<v Speaker 3>the mood today here in Europe. I'm Caroline Hepcat alongside

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<v Speaker 3>Stephen Caroll. We're joined by Bloomberg reporter Cloe Lay. Now

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<v Speaker 3>let's start with WPP rising this morning. What is driving

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<v Speaker 3>the change then for the advertising company, it's.

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<v Speaker 1>Because they just got a by rating at Berenberg and

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<v Speaker 1>and this is saying that essentially the fears around AI

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<v Speaker 1>are very much overdone, and they said that the entire

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<v Speaker 1>advertising sector actually will remain relevant in the age of AI,

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<v Speaker 1>and that this technology will actually more likely strengthen rather

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<v Speaker 1>than weaken them. And the analysts from Bhrenberg actually upgraded

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<v Speaker 1>all three of those big list of names in Europe

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<v Speaker 1>and advertising, so that's Publicists, have As and WPP. But

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<v Speaker 1>the reason why we saw WPP jump in particular was

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<v Speaker 1>because sentiment has been very negative around that company. So

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<v Speaker 1>this BI rating is seen as actually quite a big relief.

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<v Speaker 1>You know, It's worth noting that the shares are still

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<v Speaker 1>down about nineteen percent this year for WPP. It's been

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<v Speaker 1>having a tough time for quite a while. Now it's

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<v Speaker 1>in the middle of this quite complicated turnaround where it's reorganizing,

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<v Speaker 1>rearranging a lot of the internal structure, it's cutting down

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<v Speaker 1>a lot of those costs, and it still has lost

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<v Speaker 1>quite a lot of clients recently to publicists in particular,

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<v Speaker 1>that's really the biggest rival, and that's a rival that's

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<v Speaker 1>been also doing very very well. So it's still dealing

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<v Speaker 1>with all of those challenges. Those are still relevant, but

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<v Speaker 1>at least from an air perspective, it should be fine,

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<v Speaker 1>is essentially what Brenberg are saying.

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<v Speaker 3>Okay, Sotart's on WPP, turning next to some m and

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<v Speaker 3>A news from GSK.

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<v Speaker 1>Yeah, big m ANDA news for JSK this morning is

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<v Speaker 1>buying a US biotech company called New Valent for ten

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<v Speaker 1>point six billion dollars, So really big, big MNA this morning.

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<v Speaker 1>That is going to really help GSK broaden its cancer portfolio.

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<v Speaker 1>So that's been a real focus for GSK recently. It

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<v Speaker 1>had actually sold its cancer portfolio to Nevatis about ten

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<v Speaker 1>years ago, but now it's really trying to get back

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<v Speaker 1>on that. On that oncologies in that oncology space and

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<v Speaker 1>make progress there under the new CEO and New Zealand

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<v Speaker 1>is a step towards that, so it develops therapies for

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<v Speaker 1>lung cancer as specifically, and a couple of the drugs

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<v Speaker 1>that are in development are in late stage trials, could

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<v Speaker 1>get regulatory approval very soon and have the potential to

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<v Speaker 1>become blogbuster medicines once approved, So that's going to be

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<v Speaker 1>probably very beneficial for JESK. It all seems very exciting.

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<v Speaker 1>But the shares are down slightly this morning, as always

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<v Speaker 1>with those M and A stories usually that is because

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<v Speaker 1>the price tag is looking maybe a little bit steep,

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<v Speaker 1>and Bloomberg at Tangents did say that the price leaves

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<v Speaker 1>a little room for missteps, so that's something to keep

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<v Speaker 1>in mind. But it's probably going to be a boost

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<v Speaker 1>for JSK down the line.

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<v Speaker 3>Yeah, Okay, that's fuss TSK now still a big story though.

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<v Speaker 3>The very popular MONSTEPASKI how are they doing after news

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<v Speaker 3>of buyer interests yesterday?

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<v Speaker 1>Yeah? I think this Italian banking saga is going to

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<v Speaker 1>be something we talk about for quite a while. So

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<v Speaker 1>all of the names involved in this in somewhere we're

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<v Speaker 1>in the green this morning, so we had a Monte Depasci,

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<v Speaker 1>which is of course the target of all of this

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<v Speaker 1>takeover interest up this morning. Then we had both of

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<v Speaker 1>the suitors to Bank of PPM and in tessin Sampaolo

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<v Speaker 1>also in the green. And then also Uniporn, which is

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<v Speaker 1>the insurance company that would have a part to play

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<v Speaker 1>in this deal if in Tessa actually went out, so

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<v Speaker 1>that company also up very strongly. And so meanwhile the

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<v Speaker 1>background to this that we've got the Italian government saying

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<v Speaker 1>that they will not be getting involved, will not interfere

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<v Speaker 1>in this, and said that ultimately whoever pays more is

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<v Speaker 1>going to determine whether Bank of BPM or in Tessa

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<v Speaker 1>went out. Right now, the latest is that Montetepski is

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<v Speaker 1>assessing both bids. So we are still waiting for further developments.

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<v Speaker 1>Will we see higher offers, will we see anyone backing down.

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<v Speaker 1>Everything is still very much in play, so I'm sure

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<v Speaker 1>that we'll be back talking about this very soon.

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