Enagas Soars, AstraZeneca Gains, Pernod Ricard Rises

0:00Equity indices made by committees, that's the old way. The new way is Bloomberg Equity indices. Transparent indices built on data, not opinions. Discover evolved benchmarks for today's equity markets at Bloomberg.com slash equity index subscriptions. 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. Let's take a look at some of the stocks on the move today in Europe. I'm Rachel Evans with Caroline Hepka. And we're joined by Bloomberg reporter, Tiwa Adabayo. Tiwa, Spanish natural gas and a gas been making gains this morning. Fill us in on what's going on there. Well, Rachel is one of our equity's reporters at Bloomberg has put it. This stock is soaring this morning as up as much as 15%. So, any gas imports, stores and transports natural gas. They also operate plants across Spain. And this uptick is a bit of a surprise.

1:01It comes after the Spanish regulator unveiled a draft proposal for gas companies, which JP Morgan is saying is unexpectedly positive. So, according to that analyst, no, under the new proposals, any gas could benefit from as much as 650 million to 750 million euros of incremental revenues. That's just in the first year. So, it really does come as a boost to the stock. Certainly, admits uncertain times for importers and transports of natural gas, like any gases. This conflict in the Middle East continues to put pressure on global energy supplies. Yeah, absolutely. Meanwhile, a big win for AstraZeneca after a key breakthrough with a drug for long disease. That's right. So, AstraZeneca is near the top of the Eurostock 600 winners list this morning. So, up just under 4% of the highest. And the reason for this is because of one of their experimental drugs, as you mentioned, is used to treat the deadly lung-conditioned COPD.

2:02That's chronic obstructive pulmonary disease. Now, this drug has emerged from two separate studies now with results showing that it brought statistically significant reductions to flare-ups of this condition. The thinking here from analyst surveyed by Bloomberg is that this new development could generate sales of around $866 million a year by 2032. And, of course, these results open up access to a broader, more lucrative market here. But this is a particularly big win for AstraZeneca, because similar products from its peers like Sanofi and Roch have disappointed in this area. So, potentially a first mover advantage here. But our Bloomberg intelligence analysts are warning to perhaps proceed with caution here, because there was a bit of a lack of detail in their original statement about these results. And AstraZeneca are still yet to present this and its full findings at an upcoming medical meeting. Interesting. So, the devil could be in the detail there.

3:03Mean what we've had some M&A news in the alcoholic beverage space? Tell us more. So, this deal has really been the talk of the industry as far as beverages are concerned over the last two days. Perni Ricard is reportedly in talks about a potential acquisition of the owners of the firm that creates Jack Daniels whiskey. That's Brown Foreman. It's a deal which could create the second biggest player in the US market, according to analysts. So, really significant shares up as much as 4.2% this morning. But there are questions from some analysts, Deutsche Bank saying they would be surprised if the transaction actually did create material value for shareholders. But some others like Barclays are saying it makes strategic sense. So, we'll definitely keep monitoring this one as those talks progress. But certainly to very recognizable names within the sector. The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest round up of companies making news on Wall Street. And for the latest market moving headlines, listen to Bloomberg Radio Live.

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