The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0952 GMT - The revised framework for the U.S.-India trade deal makes it more feasible to meet the terms of the agreement, says Shivaan Tandon of Capital Economics in a note. The U.S. fact sheet revised the language to say India 'intends' to purchase $500 billion of U.S. goods over the next five years, rather than 'committed'--with Tandon noting that "a binding commitment of that scale always appeared unrealistic." Agricultural goods are now excluded from this purchase plan. References to India lowering tariffs on pulses also been removed. Pulses are a group of grains that include chickpeas and lentils and accounts for around 7% of domestic agricultural output. "By lowering the risk that unrealistic commitments or politically sensitive concessions [will force] a rethink later, the revised framework should offer greater reassurance to firms making investment decisions," Tandon adds. (kimberley.kao@wsj.com)
0951 GMT - Shares in U.K. house builders fall after major sector players shared a pessimistic outlook for the year ahead. Barratt Redrow said margins remained under pressure despite some signs of market stabilization, while Persimmon and Taylor Wimpey said they didn't expect improvements in operational conditions for the remainder of the year. Analysts at RBC Capital Markets said that although the U.K. government had addressed social and affordable housing funding there is still was a disconnect between outlined plans for funding affordable housing and on-the-ground conditions. Crest Nicholson shares are down 3%, Barratt Redrow falls 2.23% and Persimmon and Taylor Wimpey decline 1.4%. (anthony.orunagoriainoff@dowjones.com)
0938 GMT - European engine-makers shares rise in mid-morning trade in Europe, after French aerospace-industry supplier Safran lifted its 2028 outlook and issued guidance for 2026. Safran's shares are up 7.2% at 329.30 euros, pushing up peers. MTU Aero Engines gains 2.3% at 386 euros, while Rolls-Royce advances 2.85% at 12.61 pounds. (cristina.gallardo@wsj.com)
0931 GMT - Singapore's central bank is likely to continue expanding the funds allocated to the country's equities-boosting program if the results warrant it, says Christopher Forbes of CMC Invest in commentary. The Monetary Authority of Singapore is pouring in an additional S$1.5 billion to boost liquidity in the stock market. He expects future tranches to be tried to clear metrics, such as the ratio of third-party funds being crowded in through the strategies deployed by fund managers selected for the program. Boosting the diversity of potential initial-public offerings and channelling the funds, specifically to mid-cap stocks, could also be criteria for new funds injected into the program, says the head of Asia and the Middle East. (megan.cheah@wsj.com)
0916 GMT - Grab's long-term story remains intact, Jefferies analysts say in a note. "One of Grab's key success factors is its hyperlocal execution strategy," to better serve the countries where it operates, they write. Multiple drivers are supporting Grab's target to hit $1.5 billion in adjusted Ebitda terms by 2028, including revenue growth from on-demand services driving margin expansion, declining corporate costs thanks to artificial-intelligence efficiency, and its financial services business expecting to break even by 2H 2026, they write. Taking into account Grab's 2025 earnings, Jefferies retains a buy rating on the stock but trims its target price to $6.70 from $7.00. Key risks to their target price include intensifying competition and macroeconomic factors, they add. Shares last closed at US$4.27. (kimberley.kao@wsj.com)
0915 GMT - Mercedes-Benz had a disappointing quarter and delivered soft guidance, but cash returns were much stronger than expected, HSBC analysts Michael Tyndall and Pushkar Tendolkar write in a note. Both fourth-quarter EBIT and 2026 guidance were far below HSBC expectations, seemingly due to weaker pricing and lower China earnings. However, shares were only down 1.5% on the day and HSBC suspects the market was focused on the very strong dividend proposal. Management also indicated that disposals of at least 2 billion euros would provide scope to increase shareholder return. "In an uncertain market, it's this focus on shareholder returns that makes it an attractive investment, in our opinion." HSBC lowers its target price on the stock to 73 euros from 74 euros and keeps its rating at buy. Shares fall 0.5% to 56.83 euros. (dominic.chopping@wsj.com)
0913 GMT - The Norwegian krone could see renewed gains if risk sentiment stabilizes, ING analyst Francesco Pesole says in a note. A selloff in equities has prompted a partial downward correction in the krone following this week's strong performance, he says. However, markets have priced out interest-rate cuts from the Norges Bank after data Tuesday showed Norway's inflation unexpectedly accelerated to 3.4% in January. While this looks like a premature move, it's hard to argue against further krone strength given its attractive rate profile and ING's short-term model estimates the euro versus the krone is at fair value, he says. The euro rises 0.1% to 11.3249 krone after hitting a two-year low of 11.2025 Thursday, LSEG data show. (renae.dyer@wsj.com)
0859 GMT - CapitaLand Investment is likely to focus on mergers and acquisitions this year, says OCBC Group Research's Andy Wong in a note. The asset manager's funds under management grew to S$125 billion, but it is still far from its S$200 billion target by 2028, the analyst says. CapitaLand Investment's balance sheet is likely to support inorganic growth, he adds, citing potential debt headroom of around S$3.7 billion before its net gearing ratio reaches 0.7X. OCBC cuts its fair-value estimate slightly to S$3.63 from S$3.69. It maintains a buy rating on CapitaLand Investment, noting recent stock price declines. CapitaLand Investment is up 0.65% at S$3.11.(megan.cheah@wsj.com)
0849 GMT - StarHub's earnings recovery could be pushed back given intense competition in the Singapore mobile sector, RHB Research's Singapore team say in a note. The telecommunications operator's 2025 earnings disappointed the analysts, marking a low point with headline Ebitda contracting by double digits. While the company expects some cost savings from network-optimization efforts, these will likely come through only in 2027-2028, they say. StarHub also intends to maintain commercial flexibility to defend market share, the analysts note, which is expected to weigh on earnings. RHB Research slashes its 2026-2028 earnings forecasts by 58%-63%. It also downgrades the telecom operator to sell from neutral and cuts its target price to S$1.00 from S$1.19. Shares fall 0.9% to S$1.13. (megan.cheah@wsj.com)
0839 GMT - Siemens Energy's strong order momentum will support earnings growth, Berenberg analysts Richard Dawson and Scott Humphreys write. The German maker of energy equipment's first-quarter earnings show the market remains buoyant and its 2026 free cash flow guidance might be conservative, they write. The analysts increase their medium-term margin estimates and assume an 18% margin in fiscal 2030, up from 17% previously. This is because the significant order intake secured now will drive earnings in the future, they say. Meanwhile, pricing remains supportive of margin growth, they say. Shares rise 0.6% to 162.40 euros.(adam.whittaker@wsj.com)
0838 GMT - Siemens Energy shares should have room to grow, Morgan Stanley analysts write. Shares are up 34% over the year to date and have more than doubled over the past year. The German energy-equipment maker's first-quarter results were significant, they write. It is the first time its target for Siemens Gamesa to break even looks credible, they add. Orders in its gas and grid units will remain strong over the second quarter and its 2026 free cash flow guidance should see a sizeable upgrade, the analysts write. Shares fall 0.2% to 161.10 euros. (adam.whittaker@wsj.com)
0838 GMT - European blue-chip indexes are mixed in volatile early trade as technology stocks gain, while basic-materials and consumer-sensitive stocks fall. The U.K. FTSE 100 edges up 0.15% in London. House builders in the index fall, though software company Relx--which recently tumbled under AI concerns--gains 3%. Losses for basic-materials companies weigh on indexes in Germany and Spain. Banks help the IBEX 35 nudge up 0.15%, while the DAX slips 0.1%. Italy's FTSE MIB falls 0.4%, dragged by cables company Prysmian, which falls 4.5%. Positive results for Applied Materials in the U.S. and Capgemini--up 1.7%--in France lift European tech, pushing the Dutch AEX up 0.3%. The CAC 40 is down 0.4% in Paris, however. L'Oreal stock falls 6.3% after announcing earnings, though defense company Safran gains 6.4% after lifting forecasts. (josephmichael.stonor@wsj.com)
(END) Dow Jones Newswires
February 13, 2026 04:52 ET (09:52 GMT)
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