The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0840 GMT - IG Group's earnings and 125 million pound share buyback are expected to be well received by the market, RBC Capital Markets analysts Ben Bathurst and Jude Neanor say in a note. The online-trading company is making demonstrable progress as it keeps its generous capital return policy, the analysts say. "Messaging around accelerating customer growth and raising ambitions will be well received, in light of management's reputation for conservatism." Shares are up 4.5% at 1,421 pence and are up 49% over the past 12 months. (anthony.orunagoriainoff@dowjones.com)
0838 GMT - Kingboard Holdings' investments in artificial-intelligence upstream materials and chemicals are likely to boost 2027 earnings, say Citi analysts in a note. The Hong Kong-based copper-foil manufacturer's 2026 core earnings could fall, particularly as the company is placing shares in subsidiary Kingboard Laminates and therefore reducing the unit's profit contribution. The analysts cut their 2026 core earnings estimate by 11%. After 2026, the first contributions from new AI-related and chemical projects should come in, leading the analysts to raise their 2027 earnings projection by 4.0%. Still, Citi prefers Kingboard Laminates to Kingboard Holdings as the former is a pure AI upstream materials play. Citi raises its target price on Kingboard Holdings to HK$48.00 from HK$45.00 and maintains a buy rating. Shares closed 5.3% lower at HK$37.50. (megan.cheah@wsj.com)
0827 GMT - London's mining stocks slide in opening trade as precious metal prices fall. Gold futures are down 3.2% to $4,741.10 a troy ounce as the Iran war causes the dollar to rise and diminishes the prospect of interest-rate cuts in the near term. A stronger dollar makes dollar-denominated commodities more expensive for overseas buyers while lower borrowing costs typically support non-yielding assets like gold. Meanwhile, silver futures tumble 7.5% to $71.755 an ounce. Precious metal miners Fresnillo, Hochschild Mining and Endeavour all trade down more than 5%. Diversified miner Anglo American is down nearly 5% with Rio Tinto down 3.5%. Commodities giant Glencore falls 2.8%. (adam.whittaker@wsj.com)
0822 GMT - European indexes tumble at the open as oil surges above $110 a barrel and the Middle East conflict deepens. Basic materials stocks slide steeply, with miners pulling the U.K.'s FTSE 100 down 1%. Banks also fall, with Standard Chartered falling 4.9% and NatWest down 5.2%. The industrials-heavy German DAX loses 1.5%. Real estate stocks in the index tumble 5.7% as fears of an ECB rate hike this year intensify. France's CAC 40 is down 1.2%, dragged by basic materials and consumer-sensitive stocks like luxuries. Hotel group Accor slides 4.4%. Spain's IBEX 35 and the Italian FTSE MIB fall 1.5% and 1.25%, respectively, as banks and industrials sell off. ASML slips 1.6% in Amsterdam. (josephmichael.stonor@wsj.com)
0810 GMT - U.K. jobs market data signals that the market is stabilizing, Deutsche Bank's Sanjay Raja says in a note. However, high energy prices due to the Middle East war could stall any labor market recovery, Raja says. "Hiring plans may get shelved," he says. The unemployment rate remained unchanged at 5.2% in the three months to January, in line with the consensus forecast by economists in a WSJ poll. Average wage growth, excluding bonuses, slowed to 3.8% in the three months to January from 4.2% in the three months to December. (miriam.mukuru@wsj.com)
0800 GMT - As geopolitical uncertainties have made it difficult for policymakers and economists to predict the inflation outlook, the Bank of Japan is planning to release new indicators to help them understand core price trends. Gov. Kazuo Ueda says the central bank will release price data that strips out temporary factors--such as the impact of government subsidies--before the summer. However, Ueda says there is "no intention to move policy in either direction immediately" based solely on such data. (megumi.fujikawa@wsj.com)
0739 GMT - Adidas is delivering on its promised turnaround, but sentiment toward the sector remains very low, Berenberg analysts write in a note to clients. The German sporting-goods company reported the strongest consecutive two years of organic revenue growth in nearly a decade, while margins are closing in on its 10% goal, they say. "However, we see limited investor interest in the sector, no matter the strength of the stock narrative," the bank says. After a challenging period, sentiment toward the industry remains low, compounded by concerns about whether Adidas is still fashionable, the analysts say. Shares closed at 138.05 euros. (andrea.figueras@wsj.com)
0739 GMT - Malaysia could see inflation risks rising from escalating Middle East tensions and disruptions in the Strait of Hormuz, though price pressures remain modest so far this year, UOB economists Julia Goh and Loke Siew Ting say in a note. Spillover effects on food, transport and services could lift inflation from March if the conflict persists, they say. While the full economic impact remains uncertain, Malaysia's GDP growth is supported by the ongoing AI upcycle, while higher energy costs and shipping delays may weigh, they say. With inflation seen largely supply-driven, Bank Negara Malaysia could keep the policy rate unchanged at 2.75% until there is a material shift in global or domestic conditions, they add. UOB maintains its 2026 Malaysia's inflation estimate at 2.0% for now, as the situation remains fluid. (yingxian.wong@wsj.com)
0713 GMT - Puig Brands has entered a year of change amid a leadership transition, analysts at Berenberg say. Earlier this week, the Barcelona-based beauty and fashion company appointed Jose Manuel Albesa as its next CEO. Marc Puig, grandson of the group's founder, will stay on as executive chairman. "We do not view his promotion to group CEO as a major surprise," the analysts write in a research note. Albesa has been at Puig since 1998 and was more recently deputy CEO of the company. Aside from management shift, the company faces more challenging market conditions. "Fragrance category growth rates continue to normalize," Berenberg says. "Consumer confidence remains fragile and competitive intensity remains elevated," the analysts say.(andrea.figueras@wsj.com)
0712 GMT - The abrupt exit of HDFC Bank's chairman creates a near-term overhang for the stock, say Citi analysts in a note. The chair's resignation letter was strongly worded, say the analysts, but they note that the lender has emphasized that it faces no known operational and governance issues and that its governance architecture remains intact. This resignation could raise investors' focus on continuity and organization restructuring. "Until clarity improves, this episode is likely to weigh as a near‑term overhang, notwithstanding our expectation that operating metrics continue to trend positively over the medium-term," they add. Citi retains its buy rating and 1,200 Indian rupee target price. Shares are down 3.55% at 813.00 rupees. (megan.cheah@wsj.com)
0642 GMT - Jollibee Foods' topline growth is likely to stay resilient, given stable consumer demand in short- to medium-term, Maybank Securities' Daphne Sze says in a research report. The quick-service restaurant operator's global system-wide sales should grow 15.1% this year, while its international business Ebitda is underpinned by the coffee and tea segment and North America, the analyst says. However, the brokerage cuts its 2026 and 2027 net-income forecasts for the Philippine company by 9% and 12%, respectively, to partly reflect higher cost of inventories. It lowers the stock's target price to PHP311.00 from PHP325.00 with an unchanged buy rating. Shares are 3.0% higher at PHP183.60. (ronnie.harui@wsj.com)
0635 GMT - ZTO Express should be able to consolidate its market leadership, according to DBS Group Research in a commentary. The Chinese logistics company expects its parcel volume to grow 10%-13% in 2026, thanks to its extensive network, outpacing the industry's estimated 8.0% growth, the analysts say. The company's cost discipline and focus on retail expansion will likely help it face any near-term challenges, they add. ZTO is also increasing its cash dividends and share buybacks, which the analysts say show its confidence in its long-term prospects. DBS retains its buy rating and is reviewing its HK$181.00 target price for ZTO's Hong Kong shares and its US$23.20 target price for its ADRs. Shares fall 0.8% to HK$194.90; ADRs last closed at US$25.51. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
March 19, 2026 04:40 ET (08:40 GMT)
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