The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0805 GMT - Sterling falls after data showed the U.K. economy unexpectedly registered flat growth in January compared to the previous month. Economists in a WSJ survey expected 0.2% growth. "Our expectations for a strong start to the year have diminished," Deutsche Bank economist Sanjay Raja says in a note. The Iran conflict could further weigh on growth as higher energy prices squeeze disposable incomes and constrain investment and spending, he says. The Bank of England faces an uncomfortable trade-off between weak growth and higher inflation, he says. Sterling falls to a 10-day low of $1.3276 after the data from $1.3316 beforehand, also due to a stronger dollar. The euro rises to an intraday high of 0.8633 pounds, from 0.8625 previously.(renae.dyer@wsj.com)
0759 GMT - BMW will be burdened by tariffs, China and accounting impacts from moving into the delivery phase of its Neue Klasse vehicles, making 2026 a transition year, Bernstein analysts write. "As we move further into 2026, BMW will start reaping the benefits of its transformational Neue Klasse investment that started in 2020." Bernstein says investors are beginning to reassess BMW following the Neue Klasse launch. It is remarkable that the new iX3 is pretty much sold out in Europe for 2026 before a single customer vehicle has been delivered, the analysts say. The bank lowers its price target on the stock to 108 euros from 115 euros, reflecting lowered estimates on the back of BMW's 2026 guidance. "We still see meaningful upside to BMW as the equity story becomes increasingly appreciated."(dominic.chopping@wsj.com)
0748 GMT - Wharf Real Estate Investment is likely to post stable earnings this year, say UOB Kay Hian analysts in a note. This is likely to be driven by a resilient performance at one of its Hong Kong flagship assets and a lower Hong Kong benchmark interest rate. The analysts raise their 2026-2028 earnings forecasts for the Hong Kong property company by 1.7%-2.3% on potentially lower-than-expected net debt level and finance costs. They also raise their 2026-2028 dividend per share projections by 2.2%-2.8%. UOB Kay Hian raises its target price to HK$28.80 from HK$28.00, but downgrades its rating to hold from buy as it sees limited upside potential for the stock. Shares fall 1.3% to HK$24.74. (megan.cheah@wsj.com)
0743 GMT - Nordic markets are seen opening lower, with IG calling the OMXS30 down 0.8% at around 3039. Stock markets in the U.S. were in the red Thursday and equity markets in Asia are also lower, SEB senior economist Johan Javeus writes. "The war and the effects on energy and oil prices continue to be in the spotlight and Brent oil remains above $100/barrel." Inflation concerns have caused the market to shelve hopes of U.S. interest-rate cuts this year, he adds. Despite the high oil price, futures mostly point slightly up in Europe. U.S. data Friday include core PCE and the second estimate for fourth-quarter GDP. OMXS30 closed at 3063.09, OMXN40 at 2515.68 and OBX at 1882.64. (dominic.chopping@wsj.com)
0710 GMT - Honda Motor's reassessment of its electrification strategy raises concerns around the Japanese automaker's long-term technological relevance given a decarbonizing market, says Morningstar's Vincent Sun in a note. The company is effectively retreating to its core hybrid-technology competency, likely to protect profitability amid U.S. tariffs, he says. The strategy shift is likely to result in an estimated 270 billion-570 billion yen FY 2026 operating loss, Sun adds, a massive swing from a previous guidance of 550 billion yen operating profit. The expected equity-method loss also underscores Honda's struggle in China, he adds. Morningstar cuts its fair-value estimates on Honda's shares to 1,550 yen from 1,720 yen, and on its ADRs to $32.00 from $36.00. Tokyo-listed shares closed at 1,368 yen while ADRs ended at $26.09. (megan.cheah@wsj.com)
0704 GMT - Pinthong Industrial Park's strong land transfers are poised to drive earnings growth over 2026-2027, CGS International's Pornthipa Rayabsangduan says in a research report. The transfers from three new projects and continued increase in revenue from utilities services are expected to lead to 133.9% growth in the Thai company's net profit this year, the analyst estimates. The industrial estate developer's land transfers are likely to rise to 93.44 hectares in 2026 and to 96 hectares in 2027 from 27.2 hectares in 2025. The brokerage keeps the stock's add rating, but trims the target price to THB5.42 from THB5.48 based on adjustments to its 2026-2027 EPS forecasts. Shares are unchanged at THB4.22. (ronnie.harui@wsj.com)
0649 GMT - Zalando's valuation seems fair and more balanced, analysts at Bernstein say in a note. The German online retail group's stock has dropped around 28% over the past year. "We now think valuation is in a more reasonable range," compared with other apparel companies of similar growth and margins, the analysts say. Furthermore, consensus estimates for earnings have come down, while free-cash-flow generation has improved, they add. Bernstein upgrades the stock to market-perform from an underperform rating. Still, the brokerage prefers "other higher quality names," with stronger brands, more resilient growth and higher margins, including Inditex and Next. Zalando's shares closed at 22.02 euros on Thursday. (andrea.figueras@wsj.com)
0647 GMT - Regulatory approvals for UltraGreen.ai's fluorescence imaging system in new markets lays the groundwork for future Asia-Pacific expansion, says DBS Group Research's Amanda Tan in a note. The approvals strengthen Ultragreen's ability to work with healthcare institutions and distribution partners, the analyst notes. However, not all required components, such as the dye needed for surgeries, have been approved, and she doesn't expect the healthcare-technology company to immediately enter these markets. Its Asia-Pacific revenue therefore isn't likely to be materially accretive in the near term, with earnings uplift likely to be progressive, she says. DBS maintains its buy rating and US$2.00 target price. Shares rise 0.65% to US$1.55. (megan.cheah@wsj.com)
0621 GMT - DFI Retail Group's business execution capabilities seem better, based on CGS International's non-deal roadshow for the company, the brokerage's analysts say in a research report. Key highlights of the roadshow were the Asian retailer's multipronged strategy to drive customer footfall, flexible sourcing to protect margins under volatility, and its focus on retail media, the analysts note. Tech-based skin and scalp assessments at the company's Guardian retail chain are also seeing high appeal among customers aged 35-45. The brokerage keeps the stock's add rating, and raises the target price to US$5.50 from US$4.90 based on a higher 2027 P/E. Shares are 4.4% higher at US$4.70. (ronnie.harui@wsj.com)
0614 GMT - Wharf Holdings' upcoming launches could be upside catalysts for its stock, DBS Group Research analysts say in commentary. The property company's upcoming residential launches are likely to receive favorable market response. Wharf was able to achieve a net cash position in 2025 and the strong balance sheet should enable it to make new investments, the analysts add. Wharf's shares have risen only around 2.0% over the past three months, underperforming peers, and trades at about 59% discount to DBS's appraised net asset value. The bank retains a buy rating and a HK$30.00 target price. Shares rise 1.2% to HK$23.74. (megan.cheah@wsj.com)
0600 GMT - PTT Exploration and Production stands to benefit from stronger sales volumes and higher crude oil prices, Maybank Securities (Thailand)'s Chak Reungsinpinya says in a research report. The Thailand petroleum company looks attractive, mostly given its 8% volume growth and 7% dividend yield, the analyst says. The brokerage raises its 2026-2030 sales volume forecasts for PTTEP by 3%-8% to reflect the acquisitions which the company has made, notably the Touat project in Algeria, and higher production at some of its major gas fields in Thailand. The brokerage raises the stock's target price to 157.00 baht from 133.00 baht with an unchanged buy rating. Shares are 2.1% higher at 147.50 baht. (ronnie.harui@wsj.com)
0552 GMT - Swire Properties' earnings and dividend could strengthen over time, say DBS Group Research analysts in commentary. Portfolio expansion in China and improving retail momentum in Hong Kong and China are likely to be among the factors boosting the property company's financial metrics, they say. The company's share price has risen 14% over the past three months but still trades at a 51% discount to DBS's assessed net-asset value. The bank projects Swire Properties' dividend yield over 2026-2027 at 4.9%-5.2%. DBS maintains its buy rating and HK$30.38 target price. Shares are up 1.1% at HK$24.72.(megan.cheah@wsj.com)
(END) Dow Jones Newswires
March 13, 2026 04:05 ET (08:05 GMT)
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