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Now, let's have a look at some of the stocks on the move today here in Europe. I'm Caroline Hepga and I'm joined by Bloomberg reporter Kit Reese. Kit good to speak to you. There are some stocks trading today. It's a holiday shortened day and quite a number of European markets are closed for the whole day anyway. But BP is moving. They outed their CEO last week and we've got some fresh news today.
What's been happening, Yes, so we're getting a little bit of m and A news this morning. So BP has agreed to sell a majority steak in its Castro business to Stone Peak Partners. So Castrow that makes lubricants for autos and industries, and it has also been developing a liquid cooling technology for use in AI data centers. So BP will raise around six billion dollars for sixty five percent stake in the group, and it looks like the deal will be completed by the end of next year.
So it's it's been a really busy year for BP, as you mentioned, you know, they they're replacing their CEO after just two years in the job, and it's really come under pressure from an activist investor, Elliott to pivot back towards fossil fuels after and not particularly successful foray into renewables. So it's also struggle because the oil price
has been very volatile. So if I'm looking at the shares that are up at abouto point four percent this morning, so not a huge move, but overall, you know, it's part of this divestment strategy, part of its efforts to restructure and refocus on things like oil and gas. The shares are up ten percent this year and they've really underperformed the stock six hundred energy sectors twenty percent gain, so there's still quite a long way to go, but it's a move in the right direction.
Interesting, So that's BP. Meanwhile, the French drug maker Sanofi making a bed against vaccine fatigue. How are they doing that?
Yeah, definitely. So they're buying Dinovax technology for two point two billion dollars, which would give it exposure to the adult immunization market. So dino Vaccines has this hepatitis B vaccine that's already marketed in the US, and also an experimental shingles and oculation which is in early human testing. So I mean, the vaccine business, it's really struggled. Sanofi has really struggled with this, given that the sales of
flu vaccines have declined in the last quarter. There's also growing competition in Europe which has kind of pushed down prices, and fewer people are getting vaccinated in the US. But overall, it's an interesting bet. The shares are down very slightly this morning, which could be because the FDA has rejected Sanofi's experimental multiple sclerosis drug, which is it's been taken as a bit of a bit of a negative this morning.
But overall, it's an interesting bet, as you say, on the vaccine market, and we'll just see how it kind of develops for them.
Okay, so that's on Sinofi. Meanwhile, gold, silver, and platinum. No, it's not a new Nativity hymn. It's about mining stocks. Tell us more, git.
I mean, these metals have seen an absolutely stunning rally this year, and yeah, they're all at record highs today. So this really boosts the companies that get these metals out of the ground. So stocks like Frisnillo up four hundred and twenty percent this year. It mines silver. Howkstiled Endeavor also way up over one hundred percent this year.
There's a lot of a safe haven appeal for pressure's metals miners, and we're seeing tensions and Venezuela between the Ukraine and Russia, which boosts the peel of these kind of assets. And with copper it's also just soaring. There's warriors over tighter supply next year. And also the metal is used in new technology, especially in things like electrification and in data centers, which are obviously key for powering
the artificial intelligence. And so you know, the basic resources sectors of about twenty six percent this year in Europe, it's one of the most the top performing sectors in Europe this year. And we've seen companies like Antifagasta shares up over one hundred percent. It has a copper mine in Chile. Anglo American up twenty nine percent. So you know, the big question will be candy stocks sustain these gains into next year, so we'll have to see, you know,
how these trades pan out. But overall, you know, the precious metals just keep on flying.
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