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Let's take a look at some of the stocks on the move today in Europe. I'm Stephen Caroll with Tom McKenzie and we're joined by Bloomberg's Breaking News editor Louise Moon. Louise, good morning. Let's start with Diagio today, shares higher. They've been doing some deal making ahead of Christmas.
They have, indeed, they have sold East African Breweries, this one of their units in Africa. That's to a Sie obviously, the Japanese brand which has the beer of the same names. This is a two point three billion US dollar deal, so we knew that this has been kind of under review for a while, but this is the outcome. As you say, shares are taking chicking higher on that news this morning. So this is DIGU six five per cent
steak in East African Breweries. Plus also have a majority holding in a Kenua base spirits producer which is also
owned by East African Brewery. So all of this together two point three billion dollars to Asahi, so taking a step back in terms of Diadio's what it's been doing is it's been kind of pairing back, getting rid of non core units, trying to spur growth, grappling with what the whole industry is grappling with the changing of consumer drinking habits, slow down and spending, that kind of thing. And so they've been offloading some of these non core assets,
in particular in Africa in recent years. And then on a Sahi side, they've been expanding internationally over the past few years. So for example, they bought the UK's photosmith and Turner's brewing business in twenty nineteen as one example. So DAJO shares, as I say, rose, they are still down by about third so far this year on the back of all those troubles that I mentioned. And then eab's rising over in Nairobi. So a big deal in the brewing space this morning.
Okay.
And you can't have a beer without a bowl of peanuts, or maybe if you have an allergy you want to avoid that because you peen uts. How is this tying in two stocks on the watch?
So it's really interesting one to dBV so French biopharmaceutical firm, they have had a result of quite a crucial trials. Their experimental skin patch, which is to help young children with pen aalergies, has shown that it could desensitize these allergies in kids age four to seven. So it's really
interesting actually reading about this. Obviously it's a very big deal in the sense that over a million or one point two million kids in the US and the EU between one and seven simates have a pen aalergy, so obviously this affects a lot of children. So this is a big deal for dBV. It's kind of more than
two decades of work. They had an earlier effort with the US FDA had failed, and as a result they redesigned this patch and they had to conduct a different, slightly different trial with a narrow age group, so that's been a lot of work in the making, and then after this trial that they're now planning to again try for US regular approval in the first half of next year.
So stock soared this morning and last my looks is actually halted as a result, and even before that, it sowed eighty percent since of October in anticipation of these trial results. So a big deal for dBV and for those with peanut attitudes as well.
Yeah, that share back trading now just stop on thirty three percent at the moment in Paris. Let's go to HSBC next. Their share is hitting a fresh record high today. What's driven it.
They've been upgraded to a BUYE by KBW the analysts. So if you look at their overall analyst ratings now they've got eleven buys, ten holes and one cell, so joining the ranks of those who are pretty bullish on HSBC. So, as say, shares hit a fresh record high in the back of this, and obviously this comes in the context of them embarking on a huge turnaround under their CEO. So they recently appointed a new chair who was seen
as quite a safe choice. And as I say, they've they've you know, they've already been cut jobs, they've been merging and scrapping units. They're plowing ahead with this turnaround. And this upgrade is particularly on the back of the strength of their Hong Kong business, which is obviously very crucial in terms of them focusing the efforts on Asia.
You know, they're very exposed the ongoing tensions between China and the US, and so, yeah, being upgraded on the back of that, Hong Kong Business and the KBW are saying that they expect that to continue, so a bit of a nod of confidence in the CEO's shout.
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.