The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1040 ET - Dubai leads most major Gulf exchanges lower, while Saudi Arabia rises. Saudi Arabia bucks the regional trend, supported by gains in banking shares following strong second-quarter profits from major lenders. Saudi Arabia's Tadawul All Share Index rises 0.7%. The Dubai Financial Market General Index falls 0.5%, Qatar's QE Index drops 0.4% and Abu Dhabi's benchmark index loses 0.1%. S&P Global Market Intelligence says that the U.S. and Iran appear to be entering a period of sustained confrontation, below the threshold of full-scale war, which increases risks to shipping and energy flows through the Strait of Hormuz. It says the recovery in Hormuz traffic has stalled and military exchanges remain a key driver of near-term economic and financial prospects. (farhan.rafid@wsj.com)
1036 ET - Bitcoin is down 1.2% to $65,613, after climbing over $66,000 for the first time since early June yesterday. Inflows continue to be seen for bitcoin ETFs, according to data from CoinGlass -- with $203.2 million in inflows in those ETFs yesterday. That makes it six straight days that bitcoin ETFs have seen net inflows, which is encouraging after weeks of net outflows. But the amount of money that's come back to ETFs isn't meaningfully changing the fundamental outlook for bitcoin, says Li Xing of Exness in a note. "The recovery remains modest in a broader context, with July's inflows still well below the combined $6.9 billion of net outflows recorded during May and June," says Xing. (kirk.maltais@wsj.com)
0532 ET - Banco Santander's confirmation that it is on track to meet its 2026 guidance is the main positive in its second-quarter results, in light of a slower-than-expected earnings improvement in Brazil, UBS's Ignacio Cerezo and Alvaro Fernandez-Garayzabal say. The results were in line with expectations overall, with the group's Spain and U.S. units showing positive underlying trends, the analysts say in a research note. Santander's Brazil business saved the day thanks to lower taxes, but pretax profit was weaker than anticipated and asset quality there worsened as well, they add. Still, the guidance confirmation should be enough to stabilize Santander's shares after their recent underperformance, UBS says. Shares rise 2.1%. (adria.calatayud@wsj.com)
0456 ET - Banco Santander's second-quarter results seem unexciting, as the Spanish bank reported earnings that were in line with expectations and reiterated guidance, Keefe, Bruyette & Woods's Hugo Cruz and Ben Maher say in a research note. The group's net profit exceeded expectations in the U.S., Spain and Chile, but its digital-consumer and Brazilian operations fared worse than expected, according to KBW. "These results are perhaps unexciting, but the share price has underperformed the [Euro Stoxx Banks index] by 2% over the last month, and [Santander's] transformation into the potential scale winner in Europe banking seems to be on track, so we reiterate our rating of outperform," the analysts say. Shares rise 1.9%. (adria.calatayud@wsj.com)
0323 ET - 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)
2328 ET - Kasikornbank's fee-income growth could be strong on solid activity in Thailand's capital markets, Maybank Securities (Thailand)'s Jesada Techahusdin says in a research report. Given this activity, the Thai bank's net fee income should grow 16% in 2026, the analyst estimates. Hence, the bank's non-net interest income should increase 20% and offset net-interest-income contraction this year. The brokerage likes the bank's strong fee-income growth and commitment to shareholder returns with high payout ratio. It lifts Kasikornbank's 2026-2027 earnings forecasts by 6%, and raises the stock's target price to 250.00 baht from 200.00 baht with unchanged buy rating. Shares are 0.4% lower at 234.00 baht. (ronnie.harui@wsj.com)
2304 ET - The Singapore dollar consolidates against its U.S. counterpart in the Asian session, with trading likely to be subdued before the Monetary Authority of Singapore's monetary-policy decision due out next Monday, analysts say. "With markets already leaning towards no change, the tone of the statement may matter more than the decision itself," two strategists at OCBC Group Research say in a report. "A balanced hold should see limited SGD reaction, while greater emphasis on lagged imported inflation or renewed domestic price pressures could keep" the Singapore dollar nominal effective exchange rate firm, the strategists add. The U.S. dollar is little changed at 1.2916 Singapore dollars, LSEG data show. (ronnie.harui@wsj.com)
2157 ET - CIMB's 2Q pretax profit could be marginally lower from a year earlier due to pressure on net interest income, says RHB IB analyst David Chong in a note. Net interest margins are expected to remain under pressure, particularly in Indonesia, but management expects NIM could improve in 2H as more loans are disbursed and measures to lower funding costs in Indonesia and Singapore take effect, he notes. Non-interest income is likely to strengthen sequentially, supported by wealth management and fee income, while asset quality is expected to remain stable, he adds. RHB maintains a neutral rating on CIMB and keeps the target price at 8.35 ringgit. Shares are 0.1% higher at 7.69 ringgit.(yingxian.wong@wsj.com)
2150 ET - Hub24's bull at Macquarie sounds untroubled by the wealth platform's softer-than-expected June-quarter net inflows. A note from one of the investment bank's analysts acknowledges that net inflows of 4.19 billion Australian dollars fell short of both Macquarie's forecast and consensus expectations, but points out that the company was operating against a backdrop of market volatility and proposed changes to taxation. Importantly, Hub24's market share has still been growing, according to the most recent available industry data. Macquarie reiterates an outperform rating on the stock and lifts its target price 0.8% to A$97.00. Shares are up 4.8% at A$85.28. (stuart.condie@wsj.com)
2121 ET - CIMB Group's 2Q earnings are likely to be stable on improving loan growth despite pressure on net interest margins, says Maybank IB analyst Desmond Ch'ng in a note. Net interest income may remain weak due to margin compression and forex translation effects, while non-interest income and cost-control efforts could provide support, he says. Asset quality is expected to stay stable, but CIMB may stay cautious on lending to lower-income borrowers and small and medium-sized businesses. Ch'ng expects CIMB's capital management plan to remain on track, with potential dividend upside if the return of excess capital is accelerated. Maybank maintains a hold rating on CIMB and keeps its target price at 8.40 ringgit. Shares are 0.4% lower at 7.65 ringgit.(yingxian.wong@wsj.com)
2042 ET - Hub24 keeps its bull at Bell Potter despite slowing momentum at the wealth platform. Analyst Hayden Nicholson tells clients in a note that the Australian company's June-quarter performance looks good in the context of elevated outflows, even if net inflows fells short of consensus. He points out that Hub24 was coming off a deceleration of inflows in the final five weeks of the prior quarter, a period that he refers to as peak pessimism. More positively, market movements of A$7.47 billion comfortably topped both Nicholson's forecast and consensus expectations. Bell Potter keeps a buy rating on the stock, with an unchanged target price of 110.00 Australian dollars. Shares are up 4.5% at A$85.04. (stuart.condie@wsj.com)
1902 ET [Dow Jones]--Capital One Financial isn't observing the bifurcated economy that others have called out recently, where people with higher incomes continue to prosper while those with lower incomes increasingly fall behind. "We don't in our own numbers see this K-shaped economy that a lot of people talk about," Chief Executive Richard Fairbank says during a call with analysts, noting performance has been stable across the credit spectrum. "Although to be fair, we don't really participate in the lowest end of the marketplace where maybe those things are being experienced in the economy," he says. (kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
July 22, 2026 12:20 ET (16:20 GMT)
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