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WPP Gains, GSK Falls, Monte Paschi Up
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- WPP gains 4.7% on new buy rating from Berenberg. Berenberg initiated coverage of WPP with a recommendation of buy. Their price target was set to 405 pence, implying a 54% increase from last price
- GSK agreed to buy Nuvalent Inc. in a deal valued at $10.6 billion (7.9 billion pounds), adding a biotech firm that’s developing treatments for lung cancer as the British pharmaceutical company seeks to rebuild its oncology franchise.
- Italy’s Finance Minister Giancarlo Giorgetti indicated the government won’t interfere in any battle for control of Monte Paschi saying price will determine whether Banco BPM or Intesa Sanpaolo prevail.
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