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Let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll with Tom McKenzie and we're joined by Bloomberg reporter Chloe Melee. Chloe, good morning. Let's start then with the mining company Fresnillo gaining this morning. Tell us more.
Yeah, a couple of positive things for Fresnela this morning.
So first of all, it got upgraded to a bio rating by HSBC, and it's also benefiting from a real big rally in gold and silver. So silver hit the highest level in decades because a short squeeze in London boosted what was already a really massive rally this year. And then gold, which last week saw a little bit of a dip because of traders exiting their positions to kind of lock in those profits, have suched again to
another record. And because Fresnio operates both gold and silver mines, when there is a lot of bester enthusiasm around those precious metals, it's always really reflected in the shares. You know, shares in Fresno are up more than three hundred percent a year today.
It's been seeing a really massive rally.
The trade tensions in the US government shutdown have driven this rush towards safe Haven. So this may continue because we get we've gotten now further US China attention.
The US government shutdown is still ongoing, so.
We're likely to see a continuation of this and that will be benefit.
Presnio are going forward.
And in the drug space, Astro Seneca rebounding struting a deal with the Trumpe administration.
What are the details and how significant is this hook for that company?
It is quite significant, So it will be cutting prices on some of its key drugs in exchange for a bit of tariff relief. So this follows essentially the template that we saw with Paiza a couple of weeks ago. The deal means that asha Zeneca will launch all of its new medicines in the US at the lowest prices that were offered to other countries, and it also provides medicines to the Medicaid health insurance program at highly discounted prices.
It will also expand the number of products sold through its direct to consumer website at what Trump described as heavily reduced costs, and also make those medicines available on the trump Arex website once it launches, which is this platform that will launched in early twenty twenty six where American consumers will be able to buy prescription drugs directly from those pharmaceutical companies. So this is not the first time that AstraZeneca has been really proactive and trying to
appease Trump. We remember that it was one of the first companies to announce a major investment in manufacturing facilities in the US. The plan is for fifty billion dollars of that investment in the country, and you know this will put probably pressure on other drug makers to continue into in that path and to make those very similar deals with Trump as well going forward.
Okay, and next to the front, cable manufacturer Exiles dropping those shows after announcing and UCEO.
Yeah, so it's a surprise exit of the CEO effective immediately. So JP Morgan said that the management shakeup came as a big surprise because it comes just a couple of months after the announcement that the deputy CEO and the CFO would be stepping down as well. They said that the outgoing CEO had been an outspoken CEO who had completely transformed the equity story of Nixon's, so it seems that there was a lot of confidence in that CEOs.
Desparture is not really welcomed.
JP Morgan analysts also said that the new CEO, Julia Hooper, is a new face and therefore they didn't really know how he is going to perform. Just last week, the company had another tough day as well because it got downgraded by BNP Parabaut, with the analysting that they expect a really massive deceleration of earnings growth from next year. So there seems to be quite a lot of turmoil here for Nexceens, and this management shakeup is not.
Being received very warmly by the market, it seems.
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