The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0735 GMT - European natural-gas prices climb above 48 euros a megawatt-hour as the latest escalation between the U.S. and Iran heightens concerns over fuel supplies ahead of Europe's heating season. In early trading, the benchmark Dutch TTF contract rises 2.9% to 48.12 euros a megawatt-hour, up more than 10% on the week. "The European gas market continues to look tight as we move through the injection season," Ewa Manthey and Warren Patterson from ING say. Storage across the European Union is currently 50% full, well below the five-year average of 66%. Meanwhile, Europe's LNG imports have declined as Asian buyers have increasingly turned to the spot market amid supply disruptions in the Persian Gulf, ING analysts say. (giulia.petroni@wsj.com)
0730 GMT - Pirelli shares have had a strong run year-to-date and Citi now sees the risk-reward as more balanced. The bank says it continues to see Pirelli's full-year guidance as achievable, noting that the company continues to offer strong defensive characteristics and a dependable margin and free cash flow outlook that is rare in the European Union auto space. If the broader EU supplier and manufacturer outlook weakens further from here, these traits may allow for a further rerating at Pirelli, Citi adds. Given the strong rise in shares this year, Citi downgrades the stock to neutral from buy and lifts its target price on the stock to 7.50 euros from 7.40 euros. Shares fall 2.6% to 6.75 euros. (dominic.chopping@wsj.com)
0723 GMT - London's miners fall in morning trade as oil prices move higher after the U.S. and Iran exchanged fire in an escalation that could threaten peace talks. All European indexes were down at the open. Higher oil prices could fuel inflation fears and lead to higher interest rates globally. Precious metal miner Hochschild Mining drops 3.2% while peer Fresnillo slides 2% and Endeavour Mining drops 1.4%. Diversified miners Anglo American and Rio Tinto fall around 1.7%.(adam.whittaker@wsj.com)
0718 GMT - European indexes all fall in early European trade as higher oil prices revive inflation concerns on the continent. Banks and energy-intensive industries slide as the Europe-wide Stoxx 600 drops 0.7%. Germany's DAX is down 1.1%. Deutsche Bank drops 2.5%, while autos in the index falter with Mercedes-Benz group down 2.2%. In Paris, the CAC 40 is 0.8% lower with Renault 2.4% lower while bank Societe Generale slides 2.3%. Losses for London's FTSE 100--down 0.8%--are cushioned by gains for oil majors BP and Shell, as miners lead the index's fallers. Banks drag on Spain's IBEX 35 and the Italian FTSE MIB, which slip 1% and 0.6%, respectively. Dutch AEX edges down 0.1% as ASML nudges up 0.3% after dropping sharply in the last session.(josephmichael.stonor@wsj.com)
0716 GMT - European energy stocks open higher after the U.S. and Iran exchanged fire in an escalation that could threaten peace talks. The U.S. also blocked Iran's ability to sell oil legally on Tuesday in response to recent attacks on ships near the Strait of Hormuz. This pushes Brent crude futures up 3.1% to $76.48 a barrel while WTI is up 2% to $71.09 a barrel. In London, BP rises 2.3% and Shell is up 1.3%. Spain's Repsol rises 3.7%, aided by a strong second-quarter trading update. Italy's Eni is 2.8% higher and France's TotalEnergies is up 1.5%. Norway's Equinor opens 2.9% higher.(adam.whittaker@wsj.com)
0711 GMT - Bitcoin edges lower as renewed worries about an artificial intelligence bubble and the U.S.-Iran conflict weigh on risk sentiment. Chip giant Samsung Electronics' strong earnings failed to meet lofty expectations, dragging sector peers lower and prompting investors to flee AI investments. The U.S. struck sites along Iran's coast and blocked its ability to sell oil legally Tuesday in response to Tehran's recent attacks on ships near the Strait of Hormuz, WSJ reports. "We do not think that the recent developments will break the ceasefire, but they do highlight the fragile nature of the truce," Jefferies economist Mohit Kumar says in a note. Bitcoin drops 1.8% to $62,514, LSEG data show.(renae.dyer@wsj.com)
0709 GMT - Spanish energy major Repsol's second-quarter trading update shows strength across its downstream unit, RBC Capital Markets analyst Biraj Borkhataria writes. Its upstream numbers are slightly below expectations while downstream indicators appear stronger, he adds. Repsol's results could come in around 10% higher than current consensus expectations, he writes. Shares rise 4.1% to 22.92 euros. (adam.whittaker@wsj.com)
0708 GMT - Mizuno is likely focusing on growth in non-sports areas, Nomura analysts say in a research report. The Japanese sporting goods company is leveraging its strength established in sports areas to expand into non-sports segments, say the analysts. Nomura expects higher sales growth for Mizuno's sports style products, with a broader client base. Given the sports equipment and apparel manufacturer's stable profit growth potential, it's unlikely that the current share price reflects its longer-term growth potential adequately, and the stock looks undervalued. Nomura initiates coverage of the stock with a buy rating and a target price of Y4,600. Shares closed 0.4% higher at Y3,555. (ronnie.harui@wsj.com)
0701 GMT - Private credit in Southeast Asia hasn't really taken off amid bank dominance and concern from private credit lenders that returns would be unable to match higher operational risks, says Sally Yim of Moody's Ratings in an interview. Private-credit in the broader Asia-Pacific region is likely to grow faster than in the U.S. and Europe in local currency terms. However, Southeast Asia's private credit growth appears more limited, with a focus largely on middle-market or distressed companies. Southeast Asian banks are usually very liquid, well-capitalized and able to offer reasonably-priced funding solutions, she says. Still, as the region's economies grow, funding gaps in some sectors will surface that private credit can serve, such as through longer tenor funding, she adds. (megan.cheah@wsj.com)
0646 GMT - The opportunity for oil companies to capitalize on higher crude prices amid the Middle East conflict has been short-lived, says Robin Haworth at Lombard Odier. Stock valuation of major oil and gas firms didn't expand materially, as investors judged higher profits to be temporary, says the equity research analyst. With oil prices likely capped at $100 a barrel, further stock price gains look limited, Haworth says in a research report. Still, there are opportunities for oilfield services firms in the repair of damage caused by Middle East conflict, Haworth says. He adds that structural capacity reductions and Ukrainian attacks on Russian refiners are supporting margins in the refining sector. However, as oil production and prices normalize, more attractive opportunities are visible elsewhere, namely financials, utilities and healthcare, Haworth adds. (monica.gupta@wsj.com)
0644 GMT - Osotspa's net profit likely remained resilient in 2Q as profitability held up better than sales, CGS International's Chaiyatorn Sricharoen says in a research report. Its gross margin probably stayed healthy at 42%, as higher energy costs have yet to flow through, the analyst says. Also, the beverage producer's selling, general, and administrative expenses should have benefited from its return-on-investment-led marketing and trade promotion discipline. The brokerage lifts its net profit forecasts for the Thai company by 2.2% for 2026, 3.8% for 2027 and 5.8% for 2028. It raises the stock's target price to 18.50 baht from 16.30 baht, with an unchanged add rating. Shares are 0.6% lower at 17.40 baht. (ronnie.harui@wsj.com)
0642 GMT - Scout24 is poised to become an AI winner after investing more than 400 million euros in IT infrastructure and launching multiple AI features, Berenberg says in a note. "We strongly believe that instead of a headwind, artificial intelligence can provide a tailwind for real estate classifieds in general, and for Scout24 in particular," Berenberg analyst Gerhard Orgonas writes. Orgonas expects AI to accelerate Scout24's revenue and earnings growth and sees the potential for shares to more than double to 180 euros over a three-year investment horizon. Shares closed at 73.55 euros. (sarah.sloat@wsj.com)
(END) Dow Jones Newswires
July 08, 2026 03:35 ET (07:35 GMT)
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