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Remy Cointreau Rises, Abivax Gains, Universal Dips
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Remy Cointreau posted slightly better-than-expected annual profit as strong growth in the Americas helped the Cognac maker stem losses from tepid demand in its critical European and Chinese markets.
- Abivax shares climb as much as 14% in Paris, extending a rally after the stock plunged due to cancer cases in a crucial clinical trial. The market reaction to the cases in the French biotech company’s late-stage trial results for its experimental ulcerative colitis drug are “overdone,” according to Stifel analysts.
- Universal Music Group shares fell after Bill Ackman sold his €1.42 billion ($1.65 billion) stake in the Amsterdam-listed company just days after it rejected a takeover bid by the hedge fund billionaire.
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