1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:17,920 --> 00:00:19,439 Speaker 1: Let's take a look now at some stocks on the 5 00:00:19,440 --> 00:00:22,280 Speaker 1: move today in Europe. Were joined by Bloomberg's equities reporter 6 00:00:22,400 --> 00:00:25,000 Speaker 1: Joe Easton. Joe was even looking at the stock six hundred, 7 00:00:25,000 --> 00:00:29,040 Speaker 1: falling by two percent in early trading. Let's start with 8 00:00:29,080 --> 00:00:31,639 Speaker 1: some of the individual stock movers though in a sector 9 00:00:31,640 --> 00:00:35,239 Speaker 1: in particular, investors no longer banking honor perhaps withdrawing their 10 00:00:35,240 --> 00:00:38,120 Speaker 1: cash from European banks after Trump's tariff moves. 11 00:00:38,360 --> 00:00:41,400 Speaker 3: Absolutely run on the banks today, So the banking stocks 12 00:00:41,479 --> 00:00:44,000 Speaker 3: really hit hard. It's quite remarkable some of the moves 13 00:00:44,000 --> 00:00:46,239 Speaker 3: are seeing in this sector. So I'm saying Deutsche Bank 14 00:00:46,320 --> 00:00:49,760 Speaker 3: down eight percent, sock Gen seven point six percent, Banko 15 00:00:49,920 --> 00:00:54,320 Speaker 3: Saba del BBVA and Spain down seven percent. Italian banks 16 00:00:54,320 --> 00:00:57,960 Speaker 3: also down seven percent. Just read across the screens here 17 00:00:58,040 --> 00:01:00,760 Speaker 3: and it really plays into the to the movie that 18 00:01:00,800 --> 00:01:04,000 Speaker 3: we're seeing in yields of see the tenure yield in 19 00:01:04,080 --> 00:01:08,160 Speaker 3: Germany and other and other countries in Europe dropping pretty sharply. 20 00:01:08,200 --> 00:01:10,480 Speaker 3: The tenure in Germany was down ten percent. So this 21 00:01:10,560 --> 00:01:14,759 Speaker 3: essentially just means lower income from lending and lower income 22 00:01:14,800 --> 00:01:17,679 Speaker 3: from the investments in fixed income from these firms. Now, 23 00:01:17,720 --> 00:01:20,760 Speaker 3: this is of course all tied to worries that Trump's 24 00:01:20,800 --> 00:01:25,000 Speaker 3: tariffs will hit economic growth and also generally lending volumes 25 00:01:25,040 --> 00:01:27,920 Speaker 3: to banks. It is remarkable, really, We're down ten percent 26 00:01:28,000 --> 00:01:30,520 Speaker 3: on a two day basis for the stock six hundred 27 00:01:30,600 --> 00:01:34,080 Speaker 3: banks index, headed for its worst week in two years. 28 00:01:34,080 --> 00:01:36,440 Speaker 3: I could keep reeling off the size and scopes, but 29 00:01:36,480 --> 00:01:39,199 Speaker 3: basically banks not having a very good couple of days. 30 00:01:39,560 --> 00:01:42,640 Speaker 2: But interestingly, the biggest drop today, Joe has nothing to 31 00:01:42,680 --> 00:01:43,600 Speaker 2: do with tariff, is it. 32 00:01:43,600 --> 00:01:46,160 Speaker 3: It's about em and a yeah exactly. So this is 33 00:01:46,160 --> 00:01:49,000 Speaker 3: a company called Geresheimer over in Germany. 34 00:01:49,080 --> 00:01:49,240 Speaker 2: Now. 35 00:01:49,280 --> 00:01:53,720 Speaker 3: Geresheimer makes the needles that are used in the weight 36 00:01:53,760 --> 00:01:56,160 Speaker 3: loss drugs made by Nova Nordis. I'm thinking we're go 37 00:01:56,280 --> 00:01:59,760 Speaker 3: VIA's enpic Kagrissemer the new one that's coming out now. 38 00:02:00,080 --> 00:02:03,320 Speaker 3: KKR the private extuery company saying that it's walking away 39 00:02:03,760 --> 00:02:06,640 Speaker 3: from discussions of a takeover of the company. It's a 40 00:02:06,720 --> 00:02:10,959 Speaker 3: Gerrisheimer stock falling thirteen percent today. It's the worst performer 41 00:02:11,320 --> 00:02:14,400 Speaker 3: across the stock six hundred. It has had other interests 42 00:02:14,400 --> 00:02:16,800 Speaker 3: from other private equery firms, so it's still on the 43 00:02:16,840 --> 00:02:19,160 Speaker 3: table for a takeover. But at the moment it's really 44 00:02:19,200 --> 00:02:21,720 Speaker 3: really hit hard, down thirteen percent, as I say. 45 00:02:21,720 --> 00:02:24,760 Speaker 1: And some slightly more positive news coming from the food 46 00:02:24,880 --> 00:02:27,320 Speaker 1: sector dan one in France on the way up. 47 00:02:27,720 --> 00:02:30,079 Speaker 3: Yeah, so this is an interesting one. It's a note 48 00:02:30,120 --> 00:02:33,640 Speaker 3: from Morgan Stanley. They upgrade dunnow, they go overweight on 49 00:02:33,720 --> 00:02:37,960 Speaker 3: that one. They downgrade Nesley now. This is partly due 50 00:02:38,000 --> 00:02:40,440 Speaker 3: to the tariff worries, because they say that dune On 51 00:02:40,960 --> 00:02:44,920 Speaker 3: or DeNoon. I'm not quite sure how to say that's it. 52 00:02:46,360 --> 00:02:49,160 Speaker 3: Maybe I should just say that every time now, every 53 00:02:49,160 --> 00:02:53,320 Speaker 3: time I mentioned so done On it drives around twenty 54 00:02:53,360 --> 00:02:56,320 Speaker 3: one percent of its revenue from the US, whereas Nestley 55 00:02:57,040 --> 00:02:59,600 Speaker 3: derives thirty three percent of its revenue from the US, 56 00:02:59,600 --> 00:03:03,640 Speaker 3: and Morgan Stanley downgrades Nestley upgrades done On. Pretty simple 57 00:03:03,680 --> 00:03:05,800 Speaker 3: trade on that one. Another thing to note is that 58 00:03:05,919 --> 00:03:09,919 Speaker 3: Nestle imports all of its Delicious and espresso pods from 59 00:03:10,000 --> 00:03:13,160 Speaker 3: Switzerland into the US. So George Clooney will not be 60 00:03:13,200 --> 00:03:16,840 Speaker 3: happy about these tariffs at talk because he loves those espressos. 61 00:03:16,840 --> 00:03:19,520 Speaker 3: And Morgan Stanley saying this is going to hit the 62 00:03:19,560 --> 00:03:22,800 Speaker 3: earnings of Nestle by around two percent. Dan On or 63 00:03:23,120 --> 00:03:29,680 Speaker 3: don On, is the maker of act Active, the water, 64 00:03:29,800 --> 00:03:33,440 Speaker 3: Evian water, the actor mil yoga, all of that stuff 65 00:03:33,600 --> 00:03:37,760 Speaker 3: to safer bet than Nessley given a fewer tariff exposure. Therefore, 66 00:03:37,840 --> 00:03:39,040 Speaker 3: that's the buye. 67 00:03:39,840 --> 00:03:43,960 Speaker 2: The Stock Movers podcast from Bloomberg Radio. 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