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Let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll with Lizzie Burdon and we're joined by Bloomberg's Breaking These editor Louise Moon. Louise, good morning. So pressure on LVMH this morning, no bubbly out for them? Why indeed?
Yeah, this is of course on the back of the story that Trump has signaled he could impose a two hundred percent tariff on French wines and champagnes. Now this is after him asking countries to pay a billion to be on his Peace board, mccron rejecting that invitation to join the Peace Board, and so this is weighing on stocks links to French wines and champagne. So ELVIMH is one of them. Of course, the sector's already under pressure. Trump has said he impose a ten percent tariff as
of February first. That's on the back of the Greenland situation. So that's already been weighing on on LVMH. If we are to pluck that one out as an example. So they're on track for the seventh street session of losses in Paris. That's the longest streak since March. And as I say, down today on the back of this latest news of potential additional tariff. So they were down about just over two percent last time I looked shares at
levels last scene in October. And of course this is you know, lvimsher behind Moet Verve Clico and a host of the brand, so really being hit by Trump's saying that he could impose those tariffs. And meanwhile Louise drama at sea. One investor at the yacht maker Ferretti wants to throw another investor overboard.
What's going on?
Indeed, Yeah, So the second largest investor this is a company called KKCG Maritimes. They're part of Caramec's investment group that's the Czech billionaire. So they're the second largest investor in Ferretti, the yacht maker. They're planning to propose a shareholder vote to ours directors that are linked to the top shareholder. This is a Chinese company called Waychai Group, So essentially they're setting up kind of a proxy fight to challenge that influence. This is a this is an
ongoing clash. It's been that they've long clashed these these two shareholders over issues like the share.
By that program.
There's also Bloomberg reported last year allegations by Waichai that it's representatives at the company were at Faretti, were being spied on. And so you know, this is the ongoing clash and it's ramping up again. Waichai recently raised their stake in Inferreti and our KKCG. They're also planning to more than double at stake. So it's a bit of a power battle and as I say, yeah, planning to propose a shareholder vote to our direct directors with connections to that Chinese firm.
Okay, let's go to GSK next traders wrapped with attention this morning. Why very good?
This is because GSK has a US biotech called Wrapped Therapeutics. They develop treatments for patients with inflammatory and immuno logic diseases, which has become quite a key focus for GSK. So this deal, it's a big one, is valued at two point two billion dollars. So GSK are buying rap Therapeutics for fifty eight dollars a share. That's a sixty five percent premium to their closing price yesterday, and this is the California based companies, so that their shares rose about
that amount, about sixty five percent. In pre market trading this morning, GSK shares fell slightly, just down over a one cent and not a huge move, but a slight fall on the back of this buyout, and it comes with the wider context of GSK's new CEO. So they joined in at the start of the year and they're essentially needing to prove themselves and the GSK's pipeline of new medicines is enough to meet their revenue ambitions for
the end of the decade. So big ambitions and needing to prove that they're their move towards these these kind of drugs will will pay off. That's the pressures are exacerbated in other sides of the business. So their vaccine's business, for example, sales are performed aren't performing as well as expected. So it's yeah, under the new CEO, big big deal, as they're doubling down on these new constructs.
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