Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the socks on
Speaker 3: the mood today here in Europe. I'm Caroline Hepcat alongside
Speaker 3: Stephen Caroll. We're joined by Bloomberg reporter Cloe Lay. Now
Speaker 3: let's start with WPP rising this morning. What is driving
Speaker 3: the change then for the advertising company, it's.
Speaker 1: Because they just got a by rating at Berenberg and
Speaker 1: and this is saying that essentially the fears around AI
Speaker 1: are very much overdone, and they said that the entire
Speaker 1: advertising sector actually will remain relevant in the age of AI,
Speaker 1: and that this technology will actually more likely strengthen rather
Speaker 1: than weaken them. And the analysts from Bhrenberg actually upgraded
Speaker 1: all three of those big list of names in Europe
Speaker 1: and advertising, so that's Publicists, have As and WPP. But
Speaker 1: the reason why we saw WPP jump in particular was
Speaker 1: because sentiment has been very negative around that company. So
Speaker 1: this BI rating is seen as actually quite a big relief.
Speaker 1: You know, It's worth noting that the shares are still
Speaker 1: down about nineteen percent this year for WPP. It's been
Speaker 1: having a tough time for quite a while. Now it's
Speaker 1: in the middle of this quite complicated turnaround where it's reorganizing,
Speaker 1: rearranging a lot of the internal structure, it's cutting down
Speaker 1: a lot of those costs, and it still has lost
Speaker 1: quite a lot of clients recently to publicists in particular,
Speaker 1: that's really the biggest rival, and that's a rival that's
Speaker 1: been also doing very very well. So it's still dealing
Speaker 1: with all of those challenges. Those are still relevant, but
Speaker 1: at least from an air perspective, it should be fine,
Speaker 1: is essentially what Brenberg are saying.
Speaker 3: Okay, Sotart's on WPP, turning next to some m and
Speaker 3: A news from GSK.
Speaker 1: Yeah, big m ANDA news for JSK this morning is
Speaker 1: buying a US biotech company called New Valent for ten
Speaker 1: point six billion dollars, So really big, big MNA this morning.
Speaker 1: That is going to really help GSK broaden its cancer portfolio.
Speaker 1: So that's been a real focus for GSK recently. It
Speaker 1: had actually sold its cancer portfolio to Nevatis about ten
Speaker 1: years ago, but now it's really trying to get back
Speaker 1: on that. On that oncologies in that oncology space and
Speaker 1: make progress there under the new CEO and New Zealand
Speaker 1: is a step towards that, so it develops therapies for
Speaker 1: lung cancer as specifically, and a couple of the drugs
Speaker 1: that are in development are in late stage trials, could
Speaker 1: get regulatory approval very soon and have the potential to
Speaker 1: become blogbuster medicines once approved, So that's going to be
Speaker 1: probably very beneficial for JESK. It all seems very exciting.
Speaker 1: But the shares are down slightly this morning, as always
Speaker 1: with those M and A stories usually that is because
Speaker 1: the price tag is looking maybe a little bit steep,
Speaker 1: and Bloomberg at Tangents did say that the price leaves
Speaker 1: a little room for missteps, so that's something to keep
Speaker 1: in mind. But it's probably going to be a boost
Speaker 1: for JSK down the line.
Speaker 3: Yeah, Okay, that's fuss TSK now still a big story though.
Speaker 3: The very popular MONSTEPASKI how are they doing after news
Speaker 3: of buyer interests yesterday?
Speaker 1: Yeah? I think this Italian banking saga is going to
Speaker 1: be something we talk about for quite a while. So
Speaker 1: all of the names involved in this in somewhere we're
Speaker 1: in the green this morning, so we had a Monte Depasci,
Speaker 1: which is of course the target of all of this
Speaker 1: takeover interest up this morning. Then we had both of
Speaker 1: the suitors to Bank of PPM and in tessin Sampaolo
Speaker 1: also in the green. And then also Uniporn, which is
Speaker 1: the insurance company that would have a part to play
Speaker 1: in this deal if in Tessa actually went out, so
Speaker 1: that company also up very strongly. And so meanwhile the
Speaker 1: background to this that we've got the Italian government saying
Speaker 1: that they will not be getting involved, will not interfere
Speaker 1: in this, and said that ultimately whoever pays more is
Speaker 1: going to determine whether Bank of BPM or in Tessa
Speaker 1: went out. Right now, the latest is that Montetepski is
Speaker 1: assessing both bids. So we are still waiting for further developments.
Speaker 1: Will we see higher offers, will we see anyone backing down.
Speaker 1: Everything is still very much in play, so I'm sure
Speaker 1: that we'll be back talking about this very soon.
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