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Let's have a look at stocks on the move today here in Europe. I'm Caroline Heppi alongside Stephen Cowell, and we're joined by Bin Becker. Reporter Chloe ma leg of Morning Chloe. So, I'm just looking at the farmer stocks across Europe. Actually they are doing very well. There's been a lot of trepidation about what the US administration would do, and there does seem to be a deal now with PFISA, Yeah.
Absolutely, and so Asher Seneca, but also Nevatis, rash never in Orders. All of them were up this morning across that farmer sector on the back of Pfireser's deal with Trump on drug pricing. So PFISA has actually agreed to slash some of his drug prices by up to eighty five percent and also to sell directly to the American public and all of that in exchange for a three
year grace period from pharmaceutical tariffs. And so what JP morgan Alis have said is that this could kind of act as a bell weather for that pharmaceutical sector, and that European farmer companies could potentially strike similar deals with the US administration that would let them essentially avoid the worst of the tariffs. Was of the impact from tariffs, and especially that one hundred percent tariff y on branded
drugs that Trump has announced. Eli Lilly has already said it's in active discussions with the administration around a similar deal, and so the European farmer stocks could follow. And that is really driving the shares this morning.
And turning them to sportswear some good news there as well, Nike's turn around starting to pay off haws that reppling into Puma's shares today.
Yeah, so Puma, but also Adidas were up on the back of this of Nike's turnaround this morning. So yesterday last night Nike Nike reported dunnings and they were quite positive, and in particular, the running segment did really well and then the wholesale segment was also really boosting a sales. So there could have been some negative read across for the European rivals Puma and Adidas because you know, if you have strengthened the running business in Nike, that could
potentially be a headwind for them. And also Nike mentions some weakness in China, which would have potentially been a negative. But it seems that the sales beat from Nike was taken by the market as a sign that there is kind of consumer momentum in that sports where sector, and their boat's a little bit better for Puma and and Adidas. Puma in particular has been in a bit of a
tougher spa. It's been struggling to appeal to shoppers, and so that consumer environment looking more promising is definitely a boost.
Okay. Finally, greggs our investors convinced that the bakery chain is going to be able to boost sales.
Well, it seems like it, because the greg shares that their biggest jump since twenty twenty one after a training update this morning. They said that training really improved in August and that also in September, and that cost inflation was easing a little bit, and it really it also confirmed fully expectations, which provided some relief to investors after
what was quite a tough update in July. So in July that flagged weaker growth and all of that had led to short sellers betting against it at the highest level since two thousand and eight, so it's not out the woods yet. They're still a slowdown in store openings, there's still some weakness in volumes. But this was a really reassuring update to day from Gregs, and investors were very very keen on it.
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