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Let's take a look at some of the stocks on the move here in Europe. I'm Caroline Hepgin bringing you Bloomberg's Breaking News editor Lubi's Moon for our discussion on the stocks moving. Pets at Home. They are detailing their turnaround plan. What does it look like?
So?
Yes, So this was alongside their results this morning. So they kept their goals for the year. That's despite profits are sliding, particularly in their retail unit, so sliding heavily, but met esmates estimates work relatively low. They've been suffering that Pets are Home kind of boomed during COVID and since then hasn't been performing as well. So, as you say, they've outlined to turn around plan this morning, focusing on that retail unit to try and return to growth. So
and listen saying that they're encouraged by this. They pointed to retail trends starting to improve a bit, starting to tick higher. So the numbers aren't great, but they're coming in line with expectations and looking forward, it seems as though things could start to turn around. So shares rose on the back of that. They were about six percent in morning trading.
Okay, so that's pets at home and continuing an animal theme, We'll never because of this news about lime.
Disease, Yeah, really interesting. So they've had quite positive data from I think it was a mid stage trial, so it's not the final trial for a potential vaccine for lime disease that's in partnership with Fizer. So shares up as much as ten percent on the back of that news and Lissa essentially saying that this could support the potential for annual protection against lime disease. So the next stage is that late stage trial and results for that
are expected in the first half of next year. And there was really a great quote, I thought from one analyst saying that this is one of the most compelling risk reward catalysts in the europe and biotech space over the next six months. We'll be keeping a close eye on that, but at the moment, it's looking quite positive for that new vaccine to potentially come into play.
Yeah, line disease is such a horrible, debilitating illness, isn't it interesting then on val never and a vaccine maybe WPP. Lastly, an exit from the footy today. We have talked about WPP in the last couple of weeks the advertising chart. What is affecting its share price so well.
So, I mean there's the rise of AI, there's less client spending because of the wider macro environment. There's a lot more competition as well in the space, so that's been been that's kind of a combination of headwinds for WP for a while now. So their share price is down more than sixty percent so far this year on the back of all those struggles. And yeah, so as you say, the latest news is that they're indicated to leave the foot Sea hundred, so they're dropped down into
the foot two to fifty. This is part of the quarterly review of the indexes that takes place, so the final decision will happen after market close on Decembia, depending on share prices, so it's all all done on market cap. So WP is set to drop and be replaced by British Land that will move up. They've had a strong first half. They've been boosted by this as the sector kind of widely recovers. So yeah, and an interesting potential movement.
And i AWPV was a huge powerhouse and it's been really lagging in recently, so a big potential dropout.
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