Bloomberg Audio Studios, podcasts, radio news.
The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
Now, let's take a look as up of the stocks on the move today in Europe. I'm Lazy Burden with Stephen Carroll and were joined by Bloomberg reporter Chloe Melee. Chloe, seems like LVMH is not popping the bubble this morning.
Why yeah, So Trump is hitting the French where it's the most, which is Champagne. Of course, Trump said he would impose a two hundred percent a tariff on Champagne
if macon doesn't join his Board of Peace. So for a little bit more a detail on this Board of Peace, Trump is essentially demanding that nations pay one billion dollars for permanent membership of the board, and some European leaders have voiced some concerns about that plan, given that it appears to place the ultimate decision making power with Trump.
And so maconn has rejected an invitation to join that Board of Peace and has said, well, if you refuse, then I'm going to retaliate by targeting your wine and your champagne, and LVMH is affected by this given it has a big wine and spirits division. It is the smallest segment out of everything that it does, but it still did bring almost six billion euros in revenue in twenty twenty four, so it's not a negligible part of
that business. And it's also the segment that's actually been the weakest recently over the last few quarters, and so this potential tariff would of course make that much worse. And LVMH was already under pressure yesterday from Trump's planned to impose ten percent tariffs on goods from countries that have opposed his efforts to acquire a greenland. So LVMH is caught in that crossfire. And there's a bit of a double whammy there as well with that potential champagne tariff.
Yeah, and of course it is sort of on almost offhand comment from the US President on his way to Davos talking about putting this two hundred percent tariff on wines and champagne. So we wait to see what sort of detail may follow on that one as well, but he certainly floated the idea. Turning next to the payments service, why is what needs from them.
Well, it was It's good Dave, for Wi's shares have jumped quite quite impressively this morning after it confirmed that it was on track to shift its primary listing to the US within the first half of twenty twenty six, and it also reported some really strong numbers with a twenty one percent increase in income in the third quarter,
and that was also a head of expectations. The goal of the primary listing shifting to the US is to increase its profile in that country, and it said that it wants to partner with more than four thousand banks across the US and get them to use its money transfer services. When it announced the plans to shift that listing, though, it was seen as kind of a big blow to
the London Stock Exchange. We'd seen you know, companies like Flutter and CRCH already shifting their listing their primary listing to the US, and it was a sign that the you know, low valuations, leak week liquidity, all of that
was really driving company away from London. Now there are some signs of life in the London Stock Exchange, but obviously this today is a reminder that the exchange has lost a company that is doing really really well, and you know, the US Stock Exchange will be benefiting from that.
And Clarie.
Finally, Monte de Paski getting a boost from Italy's government this morning tell us more.
Yeah, the Finance ministry in Italy is said to be backing the CEO of Monte Pesci for another term, so it's keen to kind of support a Luigi Lavaglio the CEO because he managed to successfully turn around the bank
after a very difficult decade of restructuring. And he also recently recently completed the seventeen billion dollar deal with to buy the rival Medio Banker, and that has turned Pasci into the third largest bank in Italy, and Lavaglio is continuing to benefit from that support from the Finance ministry, even though it's a takeover of Medio Banker is actually
currently under scrutiny by prosecutors. They're investing allegations of market manipulation, and Lavaglio is still very much at the center of all of this. But this continued support is probably being taken well by investors and taken as a sign that there won't be any disruption at the top for now, and that stability there is being rewarded, and we've seen Pasqui's shares moving.
Higher this morning 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.