The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0744 GMT - Anglo American's share price rise was triggered by Teck Resources' beat to consensus expectations, Berenberg analysts write. The two companies are combining to create one of the world's largest miners. While Anglo American's operational performance was decent, its 2.9% share increase on Thursday was more driven by Teck's earnings, they say. Significantly, Teck showcased another quarter of operational progress at the historically problematic Quebrada Blanca mine, the analysts say. Teck's management also made encouraging comments on Chinese regulatory approval for the deal, and said the merger is set to complete between September 2026 and March 2027, they add. Shares rise 2.6% to 3,725 pence. (adam.whittaker@wsj.com)
0243 GMT - Sumitomo Bakelite may benefit from demand for encapsulation materials used to protect semiconductor chips, say SMBC Nikko Securities analysts in a report. Sumitomo Bakelite, whose core business is encapsulation materials, is positioned for sustained growth amid tailwinds from higher sales and capital expenditure at outsourced semiconductor assembly and test firms, the analysts say. In short term, the company's profit is likely to grow thanks to factors including higher capacity utilization at OSAT companies and other customers. The brokerage initiates coverage of the stock with a neutral rating and a target price of 7,100 yen. Shares are 5.2% lower at Y6,774. (ronnie.harui@wsj.com)
0018 GMT - Gold declines in Asian trade. The dollar's rebound this week has caught up with the yellow metal, says XM analyst Raffi Boyadjian in a note. A stronger dollar typically makes the dollar-denominated yellow metal more expensive for holders of nondollar currencies. A possible rate hike in September by the Federal Reserve is also back in the spotlight, the analyst says. A higher interest-rate environment generally weighs on nonyielding gold. Spot gold drops 0.15% to $4,043.12 a troy ounce. (megan.cheah@wsj.com)
1517 GMT - Canadian energy companies are among the top gainers on Toronto's indexes as oil surges back higher, with Brent crude reaching $100 a barrel before easing amid renewed Middle East tensions flaring up. Crude jumped after Tehran-backed Houthi militants claimed attacks on two Saudi oil tankers in the Red Sea, threatening another key shipping route and reviving fears of a broader return to confrontation with Iran. Canada's energy companies have already benefited from higher prices and renewed investor interest during the early weeks of the conflict as limited movement in the key shipping lane of the Strait of Hormuz threatened global supplies. Among the top gainers in the session are Vermilion Energy, Athabasca Oil, Cenovus and Suncor. (adriano.marchese@wsj.com)
1027 GMT - Palm oil ended higher as crude oil and soybean oil prices surged amid escalating tensions in the Middle East conflict, according to David Ng, a trader at Kuala Lumpur-based Iceberg X. The U.S. is increasing the presence of forces, medics and weaponry to the Middle East to give President Trump more military options, as he considers expanding the conflict against Iran, The Wall Street Journal reported. Ng sees prices for palm oil well supported above 4,600 ringgit a ton and resistance at 4,780 ringgit a ton. The Bursa Malaysia Derivatives contract for October delivery rose 87 ringgit to 4,709 a ton.(tracy.qu@wsj.com)
0927 GMT - Givaudan posted solid first-half results in an uncertain environment, showing moderate upside to full-year expectations, Vontobel analyst Arben Hasanaj says in a research note. The Swiss company's fragrance segment is still leading, but its taste division is slowly recovering with a more favorable base in the second half of the year, Hasanaj says. "The input cost inflation outlook is reassuring given the surge in commodity prices," the analysts says. Vontobel expects moderate upside on growth and margins for the full year, while cash flow is likely to be more subdued due to temporary effects, the analyst adds. Shares trade 5.9% lower at 3,186 Swiss francs. (nina.kienle@wsj.com)
(END) Dow Jones Newswires
July 24, 2026 04:20 ET (08:20 GMT)
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