The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0757 GMT - Portuguese energy company Galp Energia could be taking the first step toward selling its solar and wind portfolio, RBC Capital Markets analyst Biraj Borkhataria writes. Galp is buying 15 onshore wind farms in Spain in a 420-million-euro deal. It follows the acquisition of another portfolio in April in a 320-million-euro deal. Galp previously held a predominantly solar portfolio and the wind acquisitions could be the first step to selling the entire portfolio, he says. This is because the combination of wind and solar would likely achieve a better valuation than a solar-only portfolio, Borkhataria says. Shares fall 3.6% to 19.31 euros. (adam.whittaker@wsj.com)
0749 GMT - European energy stocks fall in opening trade after President Trump paused a major escalation in the military campaign against Iran. The U.S. military had been ready Friday to launch an intensive series of strikes against Iran, which could have lasted up to two weeks, officials said. The pause and renewed focus on diplomacy sends Brent crude futures sliding 5.8% to 86.37 a barrel while WTI drops 3.9% to $76.25 a barrel. In London, BP falls 3.5% and Shell slips 1.8%. France's TotalEnergies falls 2.7%, Spain's Repsol is down 2% while Italy's Eni drops 4%. Portugal's Galp, which also reported second-quarter results Monday, was down 4.6%.(adam.whittaker@wsj.com)
0741 GMT - Asia economies may face higher inflation pressure from elevated oil prices, according to Goldman Sachs in a research note. GS maintains its oil-price forecast of $80 per barrel for Brent in 4Q, although the price can go even higher given renewed U.S.-Iran military strikes and potential for a new bottleneck in the Red Sea. "Import prices and producer prices rose sharply across Asia in recent months (though implicit or explicit subsidies have moderated or capped retail fuel prices in some countries)," they say. (tracy.qu@wsj.com)
0729 GMT - Portuguese energy company Galp Energia hikes its dividend in a shift away from share buybacks, RBC Capital Markets analyst Biraj Borkhataria writes. The company made no changes to its buyback guidance. The 10% dividend hike accelerates recent growth following a 4% rise last year and 3% the year before, he adds. The company has completed over 90% of its 250 million euro buyback program for 2026, which suggests there will be limited share repurchases in the second half of the year, Borkhataria says. Overall, the group's second-quarter performance was in line with expectations but divisional performance was mixed, he says. Shares fall 3.9% to 19.25 euros. (adam.whittaker@wsj.com)
0131 GMT - Buying Carnaby Resources gives Evolution Mining an additional source of high-quality copper-gold ore to increase production at its Ernest Henry operation, says RBC Capital Markets analyst James Redfern. He expects the economics of Carnaby's Greater Duchess project can "be enhanced under EVN's ownership and processing at Ernest Henry." A recent project study assumed a processing toll with Glencore that will now be terminated, Redfern notes. RBC keeps a sector perform rating and A$11.50-per-share price target on Evolution. Shares in the miner are up 2.7% at A$11.59. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
July 27, 2026 04:20 ET (08:20 GMT)
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