Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, 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 stocks on the move
Speaker 3: today in Europe. I'm Tom McKenzie with Stephen Carroll. We're
Speaker 3: joined by Bloomberg reporter Chloe Mela. Chloe. Let's start with Bayer,
Speaker 3: which makes agricultural products. The company making progress on its
Speaker 3: appeal against lawsuits targeting one of its top selling weed killers.
Speaker 4: Yeah, so it was a massive jump in the ches
Speaker 4: for Bayer this morning after the Trump administration has urged
Speaker 4: the US Supreme Court to take up its appeal related to,
Speaker 4: as you say this, those lawsuits against its weed killer.
Speaker 1: So it's roundup weedkiller.
Speaker 4: That's a product that Bayer inherited from its acquisition of
Speaker 4: Monsanto in twenty eighteen, and it's been fighting for years
Speaker 4: now against claims that roundup cause is cancer. So the
Speaker 4: company has already paid more than ten billion dollars verdicts
Speaker 4: and settlements, and it's still facing about sixty seven thousand
Speaker 4: claims from plaintiffs.
Speaker 1: So this development here is seen as a win.
Speaker 4: It's quite a complicated thing with a lot of legal jargon,
Speaker 4: but as I understand it, essentially Bio executives are hoping
Speaker 4: to knock out thousands of cases against Roundup that include
Speaker 4: claims that the company failed to properly warn consumers about
Speaker 4: cancer risks, so it would have to maybe not pay
Speaker 4: as many settlements. So bioshares have jumped on that news.
Speaker 4: They've actually been doing pretty well so far. But overall
Speaker 4: that litigation is meant that the stock is down about
Speaker 4: seventy percent since that Monsanto dial in twenty eighteen, so
Speaker 4: this is definitely seen as a much needed boost for buyer. Yeah,
Speaker 4: bios shares currently almost twelve percent higher in Germany.
Speaker 3: Turning to the UK next and Persimine the home builder
Speaker 3: their show is almost two percent this morning.
Speaker 1: What's that link to.
Speaker 4: Yeah, so personan, but also other house builders like Taylor, Wimpy,
Speaker 4: British Land, et cetera. They've all moved a little bit
Speaker 4: higher this morning because of new nation and wide data
Speaker 4: that showed the UK house prices rose for the third
Speaker 4: consecutive months, So that is actually signed that the UK
Speaker 4: housing market is resilient and more resilient than was feared
Speaker 4: in the run up to the budget, So it looks
Speaker 4: like buyers were not at two phase by the reports
Speaker 4: of tax hikes in the budget, including the reports that
Speaker 4: turned out to be true about that mansion tax. And
Speaker 4: so going forward, the fact that the measures from Rochel
Speaker 4: Reefs were not maybe as far reaching as some had anticipated,
Speaker 4: might mean that we see an even the further boost
Speaker 4: in those house prices. There was also other data that
Speaker 4: was another sign of resilient demand. We had a Bank
Speaker 4: of England data on Monday that showed that the number
Speaker 4: of mortgage approval dipped a little bit less than expected
Speaker 4: in October. So it seems that there is that resilience
Speaker 4: there in the housing market and therefore we are seeing
Speaker 4: those house builders benefiting from that optimism in that momentum
Speaker 4: in that sector.
Speaker 3: Yeah, and of course we are counting down as well
Speaker 3: to the Bank of englands December interest right decision, with
Speaker 3: markets spricing abana nine two percent chances that they can't
Speaker 3: interest rates then and about a twenty five percent chance
Speaker 3: that they cut again in February. Also in focus talking
Speaker 3: of reisdic we think about banks, of course, and this
Speaker 3: time the lends on Santander Polska, the Polish unit then
Speaker 3: of the Spanish banking giant and being sold for close
Speaker 3: to what half a billion US dollars.
Speaker 4: Yeah, So Santander has disupposed of another three point five
Speaker 4: percent in Santanda Poscar, which is the Polish subsidiary. So
Speaker 4: this is part of an ongoing process of moving away
Speaker 4: from Santadeir Poscar.
Speaker 1: So it sold the controlling stake to US.
Speaker 4: To bank earlier this year and it's now moving further
Speaker 4: and further away, and that sled shares down for santandera
Speaker 4: Posca and this is part of Santander refocusing a lot
Speaker 4: of its international operations. So currently Santander's still holds about
Speaker 4: fifty eight point seven percent in that Polish bank, but
Speaker 4: that will fall to just under ten percent once the
Speaker 4: planned sales to US that has been completed.
Speaker 1: And that will be around the end of this year.
Speaker 1: And so the bank has now a.
Speaker 4: Marked half of those proceeds for buybacks and then some
Speaker 4: of it as well to buy the UK unit from Sabadah,
Speaker 4: which is TSB. And it's also focusing on investing in
Speaker 4: growth in the Americas. And so we are seeing Santanda
Speaker 4: Posca moving a little bit lower this morning up because
Speaker 4: of sometimes they're moving away and refocusing away from the
Speaker 4: Polish Polish baking sector.
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