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Let's take a look at some of the socks on the mood today here in Europe. I'm Caroline Hepcat alongside Stephen Caroll. We're joined by Bloomberg reporter Cloe Lay. Now let's start with WPP rising this morning. What is driving the change then for the advertising company, it's.
Because they just got a by rating at Berenberg and and this is saying that essentially the fears around AI are very much overdone, and they said that the entire advertising sector actually will remain relevant in the age of AI, and that this technology will actually more likely strengthen rather than weaken them. And the analysts from Bhrenberg actually upgraded all three of those big list of names in Europe
and advertising, so that's Publicists, have As and WPP. But the reason why we saw WPP jump in particular was because sentiment has been very negative around that company. So this BI rating is seen as actually quite a big relief. You know, It's worth noting that the shares are still down about nineteen percent this year for WPP. It's been
having a tough time for quite a while. Now it's in the middle of this quite complicated turnaround where it's reorganizing, rearranging a lot of the internal structure, it's cutting down a lot of those costs, and it still has lost quite a lot of clients recently to publicists in particular, that's really the biggest rival, and that's a rival that's been also doing very very well. So it's still dealing
with all of those challenges. Those are still relevant, but at least from an air perspective, it should be fine, is essentially what Brenberg are saying.
Okay, Sotart's on WPP, turning next to some m and A news from GSK.
Yeah, big m ANDA news for JSK this morning is buying a US biotech company called New Valent for ten point six billion dollars, So really big, big MNA this morning. That is going to really help GSK broaden its cancer portfolio. So that's been a real focus for GSK recently. It had actually sold its cancer portfolio to Nevatis about ten years ago, but now it's really trying to get back
on that. On that oncologies in that oncology space and make progress there under the new CEO and New Zealand is a step towards that, so it develops therapies for lung cancer as specifically, and a couple of the drugs that are in development are in late stage trials, could get regulatory approval very soon and have the potential to become blogbuster medicines once approved, So that's going to be probably very beneficial for JESK. It all seems very exciting.
But the shares are down slightly this morning, as always with those M and A stories usually that is because the price tag is looking maybe a little bit steep, and Bloomberg at Tangents did say that the price leaves a little room for missteps, so that's something to keep in mind. But it's probably going to be a boost for JSK down the line.
Yeah, Okay, that's fuss TSK now still a big story though. The very popular MONSTEPASKI how are they doing after news of buyer interests yesterday?
Yeah? I think this Italian banking saga is going to be something we talk about for quite a while. So all of the names involved in this in somewhere we're in the green this morning, so we had a Monte Depasci, which is of course the target of all of this takeover interest up this morning. Then we had both of the suitors to Bank of PPM and in tessin Sampaolo
also in the green. And then also Uniporn, which is the insurance company that would have a part to play in this deal if in Tessa actually went out, so that company also up very strongly. And so meanwhile the background to this that we've got the Italian government saying that they will not be getting involved, will not interfere in this, and said that ultimately whoever pays more is going to determine whether Bank of BPM or in Tessa went out. Right now, the latest is that Montetepski is
assessing both bids. So we are still waiting for further developments. Will we see higher offers, will we see anyone backing down. Everything is still very much in play, so I'm sure that we'll be back talking about this very soon.
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