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 stocks on the move
Speaker 3: today in Europe. I'm Stephen Carroll with Lizzie Burdon and
Speaker 3: we're joined by Bloomberg's Breaking These editor Louise Moon. Louise,
Speaker 3: good morning. So pressure on LVMH this morning, no bubbly
Speaker 3: out for them? Why indeed?
Speaker 1: Yeah, this is of course on the back of the
Speaker 1: story that Trump has signaled he could impose a two
Speaker 1: hundred percent tariff on French wines and champagnes. Now this
Speaker 1: is after him asking countries to pay a billion to
Speaker 1: be on his Peace board, mccron rejecting that invitation to
Speaker 1: join the Peace Board, and so this is weighing on
Speaker 1: stocks links to French wines and champagne. So ELVIMH is
Speaker 1: one of them. Of course, the sector's already under pressure.
Speaker 1: Trump has said he impose a ten percent tariff as
Speaker 1: of February first. That's on the back of the Greenland situation.
Speaker 1: So that's already been weighing on on LVMH. If we
Speaker 1: are to pluck that one out as an example. So
Speaker 1: they're on track for the seventh street session of losses
Speaker 1: in Paris. That's the longest streak since March. And as
Speaker 1: I say, down today on the back of this latest
Speaker 1: news of potential additional tariff. So they were down about
Speaker 1: just over two percent last time I looked shares at
Speaker 1: levels last scene in October. And of course this is
Speaker 1: you know, lvimsher behind Moet Verve Clico and a host
Speaker 1: of the brand, so really being hit by Trump's saying
Speaker 1: that he could impose those tariffs. And meanwhile Louise drama
Speaker 1: at sea. One investor at the yacht maker Ferretti wants
Speaker 1: to throw another investor overboard.
Speaker 2: What's going on?
Speaker 1: Indeed, Yeah, So the second largest investor this is a
Speaker 1: company called KKCG Maritimes. They're part of Caramec's investment group
Speaker 1: that's the Czech billionaire. So they're the second largest investor
Speaker 1: in Ferretti, the yacht maker. They're planning to propose a
Speaker 1: shareholder vote to ours directors that are linked to the
Speaker 1: top shareholder. This is a Chinese company called Waychai Group,
Speaker 1: So essentially they're setting up kind of a proxy fight
Speaker 1: to challenge that influence. This is a this is an
Speaker 1: ongoing clash. It's been that they've long clashed these these
Speaker 1: two shareholders over issues like the share.
Speaker 3: By that program.
Speaker 1: There's also Bloomberg reported last year allegations by Waichai that
Speaker 1: it's representatives at the company were at Faretti, were being
Speaker 1: spied on. And so you know, this is the ongoing
Speaker 1: clash and it's ramping up again. Waichai recently raised their
Speaker 1: stake in Inferreti and our KKCG. They're also planning to
Speaker 1: more than double at stake. So it's a bit of
Speaker 1: a power battle and as I say, yeah, planning to
Speaker 1: propose a shareholder vote to our direct directors with connections
Speaker 1: to that Chinese firm.
Speaker 3: Okay, let's go to GSK next traders wrapped with attention
Speaker 3: this morning. Why very good?
Speaker 1: This is because GSK has a US biotech called Wrapped Therapeutics.
Speaker 1: They develop treatments for patients with inflammatory and immuno logic diseases,
Speaker 1: which has become quite a key focus for GSK. So
Speaker 1: this deal, it's a big one, is valued at two
Speaker 1: point two billion dollars. So GSK are buying rap Therapeutics
Speaker 1: for fifty eight dollars a share. That's a sixty five
Speaker 1: percent premium to their closing price yesterday, and this is
Speaker 1: the California based companies, so that their shares rose about
Speaker 1: that amount, about sixty five percent. In pre market trading
Speaker 1: this morning, GSK shares fell slightly, just down over a
Speaker 1: one cent and not a huge move, but a slight
Speaker 1: fall on the back of this buyout, and it comes
Speaker 1: with the wider context of GSK's new CEO. So they
Speaker 1: joined in at the start of the year and they're
Speaker 1: essentially needing to prove themselves and the GSK's pipeline of
Speaker 1: new medicines is enough to meet their revenue ambitions for
Speaker 1: the end of the decade. So big ambitions and needing
Speaker 1: to prove that they're their move towards these these kind
Speaker 1: of drugs will will pay off. That's the pressures are
Speaker 1: exacerbated in other sides of the business. So their vaccine's business,
Speaker 1: for example, sales are performed aren't performing as well as expected.
Speaker 1: So it's yeah, under the new CEO, big big deal,
Speaker 1: as they're doubling down on these new constructs.
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