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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll with Caroline Hepker, and we're joined by Bloomberg's Breaking News editor Louise Me and Louise good morning. So we're seeing somewhat of a stabilization following the route and metal markets gold and silver are still down fairly significantly on the day, but that means big moves too in mining stocks, it does.
Yeah, So if you look at the Footze hundred for example in London, the top drags pretty much all of them are miners. So we've got Fresnillo, Endeva, Anti, Fagusta, Anglo American, all of kind of the big names. And we're also seeing that that kind of ripple across Europe as well. So it's not just the Footsie in London
that's being impacted. As you say, that's coming after metal surge in January and investors in particular piling in over doubts over the dollar and among other reasons as well, and that and then more recently there's been that sell off triggered in part by you know, the new FED chair, and then those declines have been gathering momentum but starting to stabilize a bit today, but as I say, still kind of being the main drag there on the foot seat.
Yeah.
Absolutely, and you're you're seeing it as you say, on the USOX six hundred. Yeah, some big, big declines first and low down by three point seven percent. Just as an example elsewhere, never more disc Shares in the Danish drug maker falling. Why is that?
Yeah, shares down at one point this morning over about three percent. That's after a downgrade by ABG. They downgraded Novo from a buy to a hold. This is ahead of their fourth quarter results on Wednesday, and ABG are essentially saying they don't expect those results to d risk They what they call de risk the twenty twenty six
investor stories. So essentially they think that the fall court will show an attractive long term path in terms of the growth of their OBC drugs, but also a rocky couple of years ahead, so some near term challenges in the years ahead, and those could kind of outshine overall volume growth essentially, So if you take a bit of a step back and you look at their stock, the stock did well to start the year, so it did
well in January. It rose about fourteen percent. That was a bit of a bounce back from what was their worst ever year. So if you look even further back, Novo peaked in twenty twenty four and then it's slumped quite heavily since then. So January was a bit of a bright spell for them, But overall they're still kind
of struggling, partly against their rival Eli Lilly. They've had some disappointing clinical trial results last year, they had quite a few profit warnings, They've got a new CEO, so they still got quite a lot of things to contend with and prove themselves to invest and this downgrade this
morning kind of indicates that. And if you look generally at their analyst consensus, it has fallen more recently and most analysts have no vote at a hold, so there's a bit of kind of anticipation over their future trajectory, you could say, and more will be shown really in their fourth quarter results on Wednesday.
Okay, Well, turning next to the Italian Bank, Contessa San Paolo, their shares falling after announcing plans to return about fifty billion euros to shareholders over the next five years.
Yeah, so seemingly well, that seems like positive news. So, yeah, fifty billion to share holders through twenty twenty nine. So the target is ninety five percent of profits will be given back, and that's a mix of buybacks and cash dividends. This is all part of the CEO's wider strategy that he has been doing for some time, so prioritizing payouts
over large deals. So if you look at kind of other bigger Allan banks that they've been pursuing M and A and that's kind of reshaping Italian finance, whereas Intez has been prioritizing cutting costs, cutting risk, boosting their fee business to boost overall profits. That's been their widest strategy.
Their fourth court results also this morning, they came in better than expected, but as you say, the stock did fall and lesser, essentially saying that their targets are kind of as expected, not ambitious, not as ambitious as they had hoped. So despite that fifty billion euro buy back to investors through twenty twenty nine, shares have fallen.
Today the Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.