The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0838 GMT - ASML Holding is expected to raise its sales guidance for the year when the Dutch semiconductor-equipment maker reports first-quarter results on April 15, UBS analysts write in a research note. The company is projecting sales between 34 billion euros and 39 billion euros for 2026, up from 32.67 billion euros in 2025. ASML could revise its guidance toward the upper end of its current range, the analysts say. They expect the company to report a strong first quarter and provide favorable commentary on artificial intelligence. ASML shares trade 2.7% lower at 1,129.60 euros. (mauro.orru@wsj.com)
0833 GMT - A potential tightening of U.S. restrictions on the export of semiconductor equipment to China is the biggest challenge faced by ASML, Citi's Andrew Gardiner and Daniel Schafei write. Exports of the Dutch company's deep ultraviolet lithography equipment to China would be blocked if rules included in draft U.S. legislation come into effect. Bans on exports to China are already in place for ASML's extreme ultraviolet lithography equipment, used by chip makers to print the most intricate layers on semiconductors. Any such ban would be negative for ASML, the analysts say. More broadly, the market for semiconductor equipment remains unchanged by the conflict in the Middle East, they add. ASML shares slide 3.2%.(josephmichael.stonor@wsj.com)
0813 GMT - A recent surge in Japanese carmakers' electric-vehicle sales isn't likely to protect them from mounting competition from Chinese automakers, says Capital Economics' Marcel Thieliant in a note. Japan's domestic EV sales have surged in recent months, which suggests its car industry is finally jumping on the EV bandwagon, the head of Asia Pacific says. The recent rise in gasoline prices could also boost overseas EV sales in the coming months, he says. However, China now exports twice as many cars as Japan and the latter's share of global vehicle production has been declining, he says. While a weaker yen has so far offset any hit to carmakers' profit margins, lower sales volumes will eventually take their toll, he adds. (megan.cheah@wsj.com)
0812 GMT - If eurozone inflation expectations rise significantly above 2%, the European Central Bank could raise its key interest rate as early as its next meeting this month, Commerzbank's Joerg Kraemer says in a note. The ECB faces a difficult decision due to the energy-price shock, which is raising inflation but also slowing growth, he says. "In this dilemma, the ECB should focus on long-term inflation expectations." If, for instance, unions anticipate high inflation in the coming years, they will demand higher wage increases today and drive inflation upward, Kraemer says. However, if people expect the ECB to achieve its inflation target of 2% in the longer term, the bank doesn't need to raise interest rates, he notes. (edward.frankl@wsj.com)
0754 GMT - Universal Music Group investors will carefully look at the takeover proposal from Bill Ackman's Pershing Square, a move that raises valid questions and makes the case for dramatic changes, ING's David Vagman and Maxime Stranart say in a research note. While the offer is nonbinding and might well fail, its cash-and-stock component, revised governance and capital-allocation policy and a more careful merger-and-acquisition strategy will be reviewed by shareholders, according to ING. "We see a risk that [UMG] management might decide to leave, as it wanted a free hand in growing in emerging markets through M&A, targeting [1 billion euros] a year over the next few years. This seems a rather direct rebuttal of this strategy," the analysts say. UMG shares jump 12%. (adria.calatayud@wsj.com)
0750 GMT - Aluminum prices rise after Emirates Global Aluminium said it could take up to a year before operations at its Al Taweelah production site are fully restored following an Iranian strike. In early trading, three-month futures on the London Metal Exchange gain 1.1% to $3,505.50 a metric ton. "LME aluminium prices are up more than 10% since the start of the Iran war, reflecting a rising geopolitical risk premium and growing concern that Middle Eastern disruptions could translate into sustained tightness rather than short-lived supply shocks," analysts at ING say. A halt at EGA's Al Taweelah smelter, producer Alba's reduced operations and earlier curtailments at Qatalum smelter could take around 3 million tons of annual capacity offline--nearly half of Middle Eastern aluminum production--, according to ING. (giulia.petroni@wsj.com)
0751 GMT - Pershing Square's offer for Universal Music Group looks in part designed to provide an exit to Bollore Group, which holds an 18% stake in the company, analysts at Panmure Liberum write in a note. A letter from Pershing Square outlined half a dozen reasons why Universal is undervalued--including uncertainty around Bollore's stake in the company, the postponement of its U.S. listing, and absence of a capital allocation plan--the analysts say.The letter also indicates shareholders can receive 100% consideration in stock for the new company, or 100% cash consideration of 22 euros per share. Shares in Universal Music Group are up 10% at 18.89 euros. (aimee.look@wsj.com)
0725 GMT - European stock indexes move higher at the opening bell as non-cyclical stocks--which are insulated from economic shock--rally. The U.K.'s FTSE 100 gains 0.3%, helped by gains for oil majors and for Unilever and Associated British Foods, which climb 1% and 0.85%, respectively. In Paris, the CAC 40 is 0.45% higher as advertising and technology stocks gain, with Publicis moving 1.5% higher. The German DAX trades flat, as energy-sensitive Siemens Energy falls 1.6% though non-cyclical stocks gain. Italy's FTSE MIB is 0.3% higher, though Leonardo and Stellantis both fall around 4%. The Spanish IBEX 35 climbs 0.2% as banks gain. ASML, Europe's most valuable company, falls 4.4% in Amsterdam, dragging the AEX down 0.2%.(josephmichael.stonor@wsj.com)
0724 GMT - AKR Corporindo likely can secure petrol supply despite the Middle East conflict, CGS International analysts say in a research report. At a recent analyst call, the logistics and supply chain company highlighted coordination with the Indonesian government to ensure petrol supply, supported by its long-term supplier relationships and strong working capital, the analysts note. Management guides for solid petrol demand in 1Q and could adjust customer mix if demand shifts later in 2026, the analysts say. The brokerage raises the stock's target price to IDR1,590.00 from IDR1,530.00 to reflect a valuation roll-forward, with an unchanged add rating. Shares are 5.3% higher at IDR1,395.00. (ronnie.harui@wsj.com)
0723 GMT - Samsung Electronics is likely to benefit from sustained artificial-intelligence inference memory demand in 2H, Citigroup's Peter Lee and Jayden Oh say. Solid AI inference memory demand should support Samsung's memory pricing through 2026, particularly for server DRAM products, the analysts write in a note. They expect Samsung's DDR5 RDIMM--a high-capacity, high-speed memory module designed for servers--to be priced at $1,402 in 3Q, up 13% from 2Q. That compares with a 5% quarter-on-quarter increase previously, they say. They note that an extended Middle East conflict could slow memory-chip price growth in 2H, while a quicker resolution could drive further gains. (kwanwoo.jun@wsj.com)
0715 GMT - The euro is likely to fall if the European Central Bank doesn't raise interest rates on April 30, even if energy prices remain high due to the Iran war, ING's Chris Turner says in a note. The market has reduced bets for an April rate rise and now sees a 43% chance of a move, although there is 72 basis points of rate rises priced in by year-end, LSEG data show. Any further pushback from ECB policymakers about an April rate rise would be euro negative, Turner says. The euro could remain weak against the dollar "in this very uncertain environment." The euro trades steady at $1.1540. (renae.dyer@wsj.com)
0651 GMT - Siloam International Hospitals' proposed acquisition of up to 14 hospital building assets from First REIT is likely value-accretive in the longer-term, Bahana Sekuritas' Arvin Lienardi says in a research report. The deal involves tranche 1 for eight hospitals and completion targeted for August, while tranche 2 is structured as a put option where First REIT holds the right but not obligated to sell the remaining six hospitals. The deal could boost the Indonesian hospital network operator's earnings through saving rental expenses as rates are geared towards past-years' revenues, the analyst says. The brokerage raises the stock's rating to buy from hold and the target price to 3,100.00 rupiah from 2,500.00 rupiah. Shares are 0.4% higher at 2,760.00 rupiah. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 07, 2026 04:38 ET (08:38 GMT)
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