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Let's take a look now at some stocks on the move in Europe. I'm to you added by with Stephen Carroll and we're joined by Bloomberg's Breaking News editor Louise Moon. Louise, let's start with GSK. How are investors digesting the latest m and a news to do with the company.
Yeah, well, so I'll start with the news that we can get into the share price reaction because it's quite an interesting one. So GSK have agreed to buy new Valain. So this is a clinical stage biopharmaceutical firm based in Massachusetts. So a US based firm that's for ten point six billion US dollars. It's one of its largest ever deals, a huge deal for GSK, not exactly known for its
risk taking. It's also the first major deal under its new CEO, joined at the beginning of this year and essentially is trying to revitalize the company bolster its pipeline. There's a lot of investor fears about the drugs GSK has in development, you know whether whether they'll be enough. Essentially, so this is push further into oncology via this deal, so cancer drugs, So through buying neuvelent, they'll gain access, particularly to two experimental medicines they're in late stage trials.
So when you look at it on the face of it, it seems, you know, this is a this is a kind of a big, bold step. It's a push into oncology. Seemingly positive shares, however, fell this morning are falling. They fell as much as three point nine percent in morning trading, actually making it the worst performer on the stock six hundred healthcare index across Europe. Analysts are essentially saying it's a big price. The deal size is larger than expected,
and that leaves little room for missteps by GSK. And they're also saying that it doesn't give GSK any blockbuster assets, so the upside of the deal is quite capped and banking on you know, these two experimental medicines that are still in trial.
Okay, so that's the GSK story this morning. Fever Tree meanwhile showing you don't need alcohol to have a good.
Time, no exactly. So they've had an update ahead of the ADM today all very positive essentially so on track to me expectations. They've extended the buyback program program that's by another thirty pounds. They've also said quite interestingly that they're well hedged from a cost perspective in light of all the geopolitical backdrops intentions going on at the moment.
Essentially two main things. So one they've made quite good progress on integration with US Mulsen cause obviously that partnership was announced a while ago, so progress on that and that further push into the US is going well. And then also a progress on push more into soft drinks. They've been putting quite a lot of empsis not just on being a tonic maker, but also being pushed into soft drinks. As you say, don't need alcohol to have a good time. So analysts are welcome it. They say
there's no low lights to the update. Those profits from that partnership in the US will be a meaningful cushion given as I say, all that volatility that backdrop, so it's a confident message. Shares up over eight percent to the highest in a month.
Wow. So from alcohol to space craze that seems to be coming to the UK who is benefiting from this market lift off.
Yeah, so slightly niche one. It's a foot seat all share company called Serophim Space Investment Trust, but an interesting story this morning. So their shares up as much as twenty six percent, the biggest jump in three years. That's after they said that the value of they're holding in ice Eye, which is a finished company, doubled after ice I had a funding round. So this is benefiting them. It's also benefiting other companies like molten Ventures also listed,
also an investor in ICEI. They're gaining as much as twelve percent this morning. So I is a finish satellite startup. Essentially they provide you know, weather and earth observation data to governments and businesses. They've raised money and new funding round and their evaluation is at more than ten billion euros. This is boosting Seraphim's Space Investment Trust this morning, molten Ventures and others as well. And also you know, there's
been some quite positive messaging going forward for ICEI. They say that well, already they've been quite critical in Ukraine, helping them identify Russian military movements. They're now involved in the Middle East. They say that there's seven European governments that have bought their systems, so revenue is going to roughly double this year. So well, we keep an eye on seraphims Space in particular to see if you know, there's an even further boost to today's share gifts.
The Stock Mover's 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.