The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0740 GMT - Akzo Nobel's pricing has improved, but sales-volumes trajectory and increasing expectations around the Axalta merger need resolving, Bernstein analysts James Hooper and Sebastien Afoy say in a research note. The Amsterdam-based company, owner of brands like Dulux and Interpon, posted a second-quarter performance of its coatings division that held up better than expected, the analysts say. However, the decorative paints division for the Europe, Middle East, and Africa regions as well as China, were impacted by the Strait of Hormuz crisis, the analysts say. "With disruption likely to extend, we believe volume trends need monitoring," they add. The rejections of various takeover proposals are increasing expectations around the merger with Axalta, Bernstein adds. Shares trade 2% higher at 58.24 euros. (nina.kienle@wsj.com)
0732 GMT - Lung Fung Group seems poised to benefit from structural demand tailwinds, gaining the Hong Kong-based pharmaceutical retailer a new bull at DBS Group Research. Structural drivers, including ageing demographics and rising preventive healthcare awareness, continue to expand Lung Fung's addressable markets, she says. The analyst estimates the city's beauty and health product markets to grow at a 8.1% compound annual growth rate and 5.2% CAGR, respectively, by 2029. Lung Fung's supply-chain differentiation should boost its pricing power, while its private label portfolio likely reinforces customer stickiness, she adds. DBS starts its coverage with a buy rating and 7.98 Hong Kong dollar target price. Shares rise 5.7% to HK$3.92. (megan.cheah@wsj.com)
0725 GMT - Sodexo's medium-term targets are out of reach, Berenberg analysts Jack Cummings and Luka Trnovsek write in a note. The French food-services company outlined its ambition to achieve more than 5% organic growth and operating margins by fiscal 2030 at its recent capital markets day. While the company's turnaround plan should accelerate growth, it will likely require 18 months for the anticipated results to materialize, they say. The near-term targets are achievable, but the company's ability to meet its midterm goals remains uncertain, they add. "Building to more than 5% for growth and margin will be tough. Successfully driving new business wins will support growth but hinder margins," they say. Shares are up 1.7% at 53.98 euros. (najat.kantouar@wsj.com)
0723 GMT - Hochschild Mining's second quarter was hit by lower realized gold and silver prices but these should recover over the remainder of the year, RBC Capital Markets analyst Marina Calero writes. Realized gold and silver prices were 15% and 12% below the bank's expectations, respectively. This is due to sales timing and the impact of provisional pricing, Calero writes. Shares have also lagged peers by 10% over the past three months due to its high exposure to falls in gold and silver prices, she adds. The stock should rise in the second half as precious-metal prices recover and production at its Mara Rosa mine improves, she adds. Shares are up 1.9% at 454.40 pence.(adam.whittaker@wsj.com)
0723 GMT - Bitcoin falls modestly as investors take profits after the cryptocurrency reached a five-week high in the previous session. Tuesday's gains were driven by renewed institutional demand, regulatory optimism and investors being forced to close earlier bets against bitcoin as the cryptocurrency strengthened, Zaye Capital Markets analyst Naeem Aslam says in a note. However, the escalating U.S.-Iran conflict create uncertainty for bitcoin prices, he says. "Bitcoin may benefit from demand for assets operating outside conventional financial channels, but during sudden geopolitical shocks it often behaves like a high-risk technology investment, leaving it vulnerable to rapid selling when investors reduce exposure." Bitcoin falls 0.8% to $65,870 after reaching a high of $66,919 Tuesday, LSEG data show.(renae.dyer@wsj.com)
0721 GMT - European equities fall in opening trade as a rally in technology stocks stutters. The Europe-wide Stoxx 600 drops 0.3%. London's FTSE 100 slips 0.1% as consumer-facing stocks lag. In Paris, the CAC 40 slips 0.1% as luxury companies that dominate the index falter, with bellwether LVMH down 1.1%. Airbus lifts the sector, rising 5.1% after the group forecast a profitability bump. The cross-listed aircraft maker also supports the German DAX, which edges 0.1% lower. AI-related stocks weigh on the Dutch AEX, which falls 0.8% as ASML drops 2.25%. Santander falls 0.4% after earnings, paring earlier losses but still dragging Spain's IBEX 35, which falls 0.3%. The FTSE MIB falls 0.2%. (josephmichael.stonor@wsj.com)
0709 GMT - International Container Terminal Services is poised for strong 2Q recurring income growth of 30% on-year, says SB Equities' Katrine Eunice Dolatre in a research report. This is driven by sustained volume growth thanks to newly-added Batam and Durban terminals, and higher yield from tariff adjustments and better container mix, the analyst says. The Philippine container terminal operator's 26-year extension of its terminal contract in Melbourne secures its long-term earnings visibility. The brokerage lifts its 2026-2027 net profit forecasts by around 4%. It raises the stock's rating to add from hold and the target price to 1,072.50 pesos from 726.20 pesos. Shares are 3.8% lower at 961.00 pesos. (ronnie.harui@wsj.com)
0656 GMT - Fresnillo's second-quarter production update is unlikely to change consensus expectations because it backed its full-year guidance, J.P. Morgan analysts write. The release from the silver and gold miner contains no major project updates or financial information, they note. Shares closed Tuesday at 2566 pence.(adam.whittaker@wsj.com)
0656 GMT - China's domestic market liquidity remains sufficient to absorb coming artificial-intelligence stock listings, according to Gary Tan, portfolio manager at Allspring Global Investments. "Many mutual and pension funds remain heavily allocated to defensive, dividend-yielding sectors following several years of limited growth opportunities in China," Tan says. AI remains one of the few sectors offering a "visible long-term growth" with strong policy support despite intense competition and volatility, Tan says. This makes it an attractive destination for institutional investors seeking China growth exposure, he says. (tracy.qu@wsj.com)
0556 GMT - Norway's Equinor reports a solid operational quarter as it posts a small underlying beat to consensus expectations,RBC Capital Markets analyst Biraj Borkhataria writes. Most of the oil major's divisions report underlying earnings relatively close to expectations but cash flow from operations and gearing were better than expected, he adds. The call with management later Wednesday will likely focus on outlook for the Johan Sverdrup and Johan Castberg fields, he adds. Shares closed Tuesday at 364.40 kroner.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
July 22, 2026 03:40 ET (07:40 GMT)
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