The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0818 GMT - Singapore's core inflation is likely to continue accelerating and peak at over 3% on year in early 2027 before easing, ANZ Research's Khoon Goh says in a report. Inflation remains moderate despite higher oil prices. There has also been no signs of a broader spillover into other prices yet, despite rising petrol and other energy-related costs. However, inflation will likely pick up in the coming months, as there is a lag effect from rising oil prices. ANZ expects Singapore's core inflation to average 2.1% for both 2026 and 2027. (amanda.lee@wsj.com)
0818 GMT - The cost of capital and regulatory pressure surrounding UniCredit's takeover offer for Commerzbank could force the Italian lender to launch a new offer or reduce its stake, analysts at Baader write in a note. Since the option of reducing its stake is hedged, there is limited downside risk, the analysts say. UniCredit didn't initially intend to take control of Commerzbank, and there will be a significant fall in return on investment, with UniCredit required to take control of the other bank. Shares in UniCredit are up 0.54% at 78.18 euros. (aimee.look@wsj.com)
0814 GMT - Shares of European semiconductor companies are on the rise after Micron Technology reported a strong set of earnings and said a chip shortage would stretch beyond 2027. The announcement reignited a rally in AI stocks that had lost steam in recent days. Shares of Dutch semiconductor-equipment maker ASML Holding and smaller rival ASM International are up 5.1% and 6.6%, respectively. Shares of BE Semiconductor Industries, the Dutch supplier of semiconductor assembly equipment, are up 5.5%. German chip maker Infineon Technologies is up 6.2%. STMicroelectronics shares are up 4.5%. Meanwhile, the E-mini Nasdaq 100 futures contract is up 2.3%. (mauro.orru@wsj.com)
0805 GMT - Beijing is likely to strengthen its strategic policy focus on the artificial-intelligence sector, as it seeks to nurture a full AI supply chain, Nomura economists say in a research note. While U.S. AI capex is overwhelmingly driven by the private sector, especially the hyperscalers, China's AI capex is led and mainly funded by the state, the economists note. The National Integrated Circuit Industry Investment Fund, known as the Big Fund, has played a critical role in investing in China's semiconductor industry. Ultralong central government special bonds and local governments have also played roles in funding for AI-related sectors, they say. Meanwhile, China's onshore STAR Market and the offshore Hong Kong market have channeled substantial capital into Chinese chip and AI companies, they add. (sherry.qin@wsj.com)
0804 GMT - Sterling rises as risk sentiment improves, oil prices fall and U.K. political concerns ease. Risk appetite recovers as fears over an artificial-intelligence bubble fade after chip giant Micron Technology posted record quarterly earnings. Oil prices reach the lowest level since before the Iran war as traffic through the Strait of Hormuz gradually resumes. Political concerns wane on expectations for a swift leadership transition after Prime Minister Keir Starmer announced his resignation on Monday. Andy Burnham, the front-runner to replace Starmer, has said he is committed to the fiscal rules. Sterling rises 0.1% to $1.3178 after hitting a seven-month low of $1.3137 Wednesday, according to LSEG. The euro falls 0.1% to 0.8614 pounds after reaching a 10-month low of 0.8601 Wednesday. (renae.dyer@wsj.com)
0750 GMT - The new U.K. leader is likely to come under pressure to alter fiscal policies to allow for more government spending, Pantheon Macroeconomics' Rob Wood says in a note. The U.K.'s public finances are under strain due to sluggish economic growth and lower government revenue relative to spending needs. Sticking to fiscal rules "would make it hard to deliver some policy priorities, such as higher defence spending," Wood says. Andy Burnham is widely expected to be appointed as the new U.K. prime minister without a contest given that no challenger has emerged so far. (miriam.mukuru@wsj.com)
0749 GMT - CapitaLand Investment receiving approval to list a second Chinese real-estate investment trust is strategically important despite a negligible earnings impact, DBS Group Research's Derek Tan says in a note. The move reinforces the Singapore asset manager's leadership in China's public REIT market. It also provides another platform for CapitaLand Investment to monetize its mature assets. The potential future merger of the asset manager's two China-listed REITs could boost value creation over the longer term by increasing the scale and fundraising capabilities of its platform, he adds. DBS maintains its buy rating and S$3.40 target price. Shares rise 1.2% to S$2.54. (megan.cheah@wsj.com)
0742 GMT - European energy stocks open slightly lower as oil prices fall back to prewar levels. Tanker traffic through the Strait of Hormuz is picking up and boost hopes that supplies from the region will bounce back. Brent crude falls 1% to $73.14 a barrel, while WTI futures are down 0.8% to $69.94 a barrel. Italy's Eni slides 1%. In London, BP drops 0.8% while Shell inches 0.5% lower. France's TotalEnergies is 0.7% lower.(adam.whittaker@wsj.com)
0742 GMT - Artificial intelligence-related sentiment now appears to be the primary driver of the euro's trajectory against the dollar, ING's Francesco Pesole says in a note. If equities continue to stabilize after the recent selloff in tech stocks due to AI-bubble fears, the euro is unlikely to break below $1.1300, he says. The euro trades steady at $1.1353 after reaching a 13-month low of $1.1324 on Wednesday, according to LSEG data. The recent selloff in tech stocks had contributed to the euro's losses due to the dollar's safe-haven role. Meanwhile, the market has recently brought forward expectations for Federal Reserve interest-rate rises while paring tightening bets for the European Central Bank. (renae.dyer@wsj.com)
0741 GMT - Gold prices hold below $4,000 a troy ounce on rising bets of interest-rate hikes by the Federal Reserve this year. In early European trading, gold futures in New York are down 0.2% to $3,999.70 an ounce. Spot gold falls 2.7% to $3,999.08 an ounce, the lowest since November of last year. "Despite a slump in energy prices, concerns about persistently higher inflation have seen a significant re-rating of monetary policy expectations," analysts at ANZ say. Meanwhile, the Fed's hawkish stance "appears to have derailed the debasement trade, where assets such as gold were favoured over currencies vulnerable to inflation, fiscal and monetary excess." (giulia.petroni@wsj.com)
0730 GMT - i-Tail's 2H earnings are expected to strengthen, thanks to seasonal demand, higher average selling prices and new product launches, Maybank Securities (Thailand)'s Tanida Jirapornkasemsuk says in a note. The weaker baht should be a margin tailwind for the Thai pet food manufacturer from 3Q, as 99% of its revenue is dollar-denominated. Maybank expects i-Tail to deliver 2026 earnings per share growth of 8%, which is above the sector average. It also maintains a buy rating on i-Tail's stock and target price of 18.60 baht. Shares are 0.6% higher at 16.70 baht. (amanda.lee@wsj.com)
0727 GMT - Serco Group's pipeline continues to grow, and this provides confidence in the future, RBC Capital Markets analysts Andrew Brooke and Karl Green say in a note. The U.K. government-services provider has strong contract retention, good operational delivery and a robust order book, the analysts say. Management also believe that the company's global footprint and sector diversity provide resilience, RBC says. Debt levels are expected to remain comfortably low at less than one year's earnings for the first half, at which point management will review options for its excess cash, RBC says. "We leave forecasts unchanged but see upside potential for the second half." Shares are down 0.3% at 233 pence. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
June 25, 2026 04:18 ET (08:18 GMT)
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