BP Gains, Sanofi Rises, Puma Pounces

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0:08 The Stock Movers Report. Your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data. Stephen, thank you so much.

0:17 Let's have a look at some of the stocks on the move today in Europe. I'm Caroline Hepke with Stephen Carroll. We're joined by Bloomberg reporter Josh Gorn-Warner. Good to see you this Friday. Let's start with BP reporting its highest profits in 18 years.

0:30 Yes. Yes.

0:32 So, adjusted profit surged to almost $ 8. 5 billion in the quarter. That was almost four times the figure that was reported just a year earlier. And the main driver there has been bumper refining margins that boosted those earnings well above expectations. The other part of the story today is the ongoing reduction in debt. We saw that figure tumble to just under $ 14 billion from over $ 22 billion just three months ago. So, that means that BP has actually hit its target about a year ahead of schedule. And that's important because it means that BP is moving closer to where it might be able to restart share buybacks, which is obviously something that investors are very keen on. However, the firm did

1:11 say the immediate focus is paying off the remaining liabilities from the Deepwater Horizon disaster back in 2010. We've got CEO Meg O'Neill, who took over in April. She is due to outline her longer-term strategy for the company in December. But for today, shares are up about 1%, moving closer to the 2010 high that was hit last week. And most oil peers are following prices higher on signs that the U.S. may resume military strikes against Iran.

1:39 Okay.

1:39 So, that's on BP.

1:40 Let's turn next to the French drugmaker Sanofi raising its outlook.

1:44 Yes.

1:44 So, forecasts for both sales and profit have been raised for this year. And that follows an upgrade in the previous quarter. And this is being driven by rising demand for its top-selling skin and asthma drug called Dupiquent. Shares are up over 5% today and trading at a six-month high. So, the strength in that drug is managing to outweigh softer sales in vaccines. Flu shots and its RSV medicine came under a bit of pressure in the U.S. However, it is also highlighting its reliance on the drug, and that is due to lose its patent protection early on in the next decade. So, investors are currently waiting for some sort of big acquisition to help plug that gap in time. So, that is a key theme for the stock to watch

2:32 going forward.

2:33 Okay, so that with the drug maker Sanofi. Let's lastly pounce on the earnings from Puma.

2:41 Yes.

2:42 German sportswear brand is up over 6% today in a two-month high. It's basically showing progress with its turnaround efforts. Third quarter sales were in line of expectations. There's been no change to guidance, but that's all being welcomed. 2026 is being treated as a bit of a transitional year for Puma. It's grappling with an array of headwinds, including excess inventories and trying to bring new products to market.

3:04 And that's in the hope of setting the firm up for a better 2027, where it can step up competition against those bigger rivals like Adidas and Nike. The company said it's still seeing weakness in some areas, but there is momentum in, say, running shoes and training apparel. And although it's still expecting losses this year, today's update is clearly providing confidence that the firm is on the right path.

3:27 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.com, and on Apple CarPlay and Android Auto with the Bloomberg Business app.