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