The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0722 GMT - European stock indexes largely edge higher in muted early trade. Most sectors are in the green, though AI-related stocks fall. The Europe-wide Stoxx 600 is flat. London's FTSE 100 jumps 0.15%, led by Vodafone--up 12% after Xavier Niel bought a $5.9 billion stake in the group. Germany's DAX is flat. Bayer rises 2.6% after selling a stake in a subsidiary to Apollo agreed. However, Infineon Technologies and Siemens Energy slip 2% and 1.1%, respectively. In Paris, the CAC 40 edges up 0.1%, led by basic materials group ArcelorMittal, which lifts 5%. Italy's FTSE MIB and Spanish IBEX 35 add 0.4% and 0.3%, respectively. The Dutch AEX is an outlier on the downside, with ASML--down 2.2%--and other semiconductor stocks dragging the index down 0.4%.(josephmichael.stonor@wsj.com)

0715 GMT - Keppel could be considered an infrastructure proxy in 2H, with the commencement of its Keppel Sakra Cogen plant in May 2026, CGS International analysts say in a research report. The plant adds 600 megawatts to Keppel's power capacity, with the brokerage estimating blended spark spread of around 50-60 Singapore dollars per megawatt. Together with Keppel's energy-as-a-service, net profit of the Singapore global asset manager and operator's infrastructure division could grow by roughly 11% on-year in 1H. The brokerage upgrades the stock's rating to add from hold and raises the target price to S$13.52 from S$11.50. Shares are 5.6% higher at S$11.50. (ronnie.harui@wsj.com)

0706 GMT - Bitcoin rises on improved risk sentiment following an easing of worries over U.S.-Iran tensions. A U.S. official said technical talks with Iran are continuing despite recent strikes between the two sides, The Wall Street Journal reports. Trump and Israeli Prime Minister Benjamin Netanyahu also spoke on Thursday agreeing to continue co-ordination between the two countries, according to the Israeli prime minister's office. Sentiment was already turning more positive late Wednesday after Trump said Iran was desperate for a deal, Deutsche Bank analysts say in a note. Bitcoin rises 0.9% to $63,873, LSEG data show. (renae.dyer@wsj.com)

0650 GMT - Volkswagen shares will probably not react well to the company's future plan that was released late Thursday, Bernstein analysts write. The plan is "long on ideals but very short on specifics," the bank says. VW said its model lineup will be gradually concentrated on the most attractive market segments and streamlined by up to 50% while the complexity of the range will be reduced by up to 75%. The company also said it is extending its technology leadership, a claim that will likely raise eyebrows given the pace of innovation among its Chinese competitors, Bernstein adds. There was no mention of reported job cuts or plant closures, but Work Council leader Daniella Cavallo called for VW CEO Oliver Blume to make a statement about the rumors, Bernstein notes. (dominic.chopping@wsj.com)

0644 GMT - RL Commercial REIT stands to benefit from property-for-share swap transaction with sponsor Robinsons Land to acquire six mall assets by 3Q, Maybank Securities' Raffy Mendoza says in a research report. The additional asset infusions prompt the brokerage to lift its distributable earnings forecasts for the REIT by 9% for 2026 and 15% for 2027. Management has also guided that accretion of the malls into the REIT's earnings will start July 1, the analyst notes. The brokerage raises the unit's target price to 8.50 pesos from 7.90 pesos with an unchanged buy rating. The units are 0.1% higher at 7.22 pesos.(ronnie.harui@wsj.com)

0622 GMT - South Korea's recent stock-market correction is "natural and healthy," Christopher Wood at Jefferies says in a research note. Amid an AI fatigue, investors have started looking for cheaper value names that haven't been part of the AI trade, the global head of equity strategy notes. But as the AI capex race continues, the picks-and-shovels trade still has legs. Upstream suppliers will remain the top beneficiaries, Wood says. Coming earnings announcements by hyperscalers will provide the next stress test for the AI story, the analyst adds. The key issue is whether the projected data-center boom will materialize in terms of projects actually being built, he says. (sherry.qin@wsj.com)

0615 GMT - WICE Logistics is likely benefiting from Thailand's foreign direct investment and export upward cycles, ttb wealth securities' Rata Limsuthiwanpoom says in a research report. As a freight forwarder, it is well-positioned through its integrated platform spanning sea, air and cross-border transportation, as well as supply-chain solutions, the analyst says. With freight rates having broadly normalized, WICE Logistics' volume growth should translate into a new earnings cycle, says the brokerage, which forecasts the company's EPS growth at 21% in 2026, 14% in 2027, 22% in 2028 and 22% in 2029. It upgrades the stock's rating to buy from sell and raises the target price to 4.00 baht from 2.60 baht. Shares are 4.9% higher at 3.02 baht. (ronnie.harui@wsj.com)

0606 GMT - Japanese automakers' interest in humanoid robots appears to be re-emerging, says Bernstein analysts in a note. Mitsubishi Motors said that it had entered into an MOU with a Japanese startup to jointly develop and mass-produce humanoid robots, they say. Japanese automakers have a long history of involvement in robotics, they say. Global humanoid robot shipment will likely reach 49 million units by 2050, with the market expanding to around $729 billion, making humanoid robotics an attractive industry given the overlap in core technologies, including actuators, sensors, batteries, control units and AI-enabled software, areas in which automakers and suppliers have built expertise through vehicle deployment, they say. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

0558 GMT - Rio Tinto might be looking to build out its organic copper-growth pipeline, similar to how peer BHP did with its Vicuna deal, UBS says in a note. Rio was reported to be considering a bigger stake in the Los Azules copper project in Argentina, according to a Reuters article in May. UBS reckons the giant miner could be looking to complement its organic growth plans in lithium, aluminum and iron ore, as it ramps up recent copper projects such as the Oyu Tolgoi mine expansion. Rio currently lacks meaningful copper growth options in the 2030-2035 period, with projects like Resolution longer dated, UBS says. It notes that Rio had looked to address the gap in its copper pipeline with the failed deal talks with Glencore. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0556 GMT - Uniqlo's international business was the driving force behind Fast Retailing's significant third-quarter beat, says Mark Chadwick, partner at Japan Company Visit Partners. "The operational delivery continues to be exceptional," the Japan specialist writes on Smartkarma. He highlights Uniqlo's faster-than-expected distribution normalization in Europe, and the magnitude of its margin improvement in China. Also, all six U.S. stores opened in fiscal 3Q are described as generating strong sales, and all four European openings exceeded expectations, he notes. Chadwick raises his annual operating profit forecast for the Japanese clothing retailer to 758 billion yen, calling the company's raised guidance of Y730 billion conservative. He maintains a Y65,000 price target, however, citing an expensive valuation. Shares fall 3.9% to Y81,870. (farah.elias@wsj.com)

0541 GMT - WiseTech Global reports increased CargoWise volumes with customer DSV, but RBC Capital Markets questions their durability. "In a rare break from WiseTech's typically reserved disclosure of contract details, the release of DSV's incremental commitment on CargoWise and term length puts pressure on the bear thesis of an imminent revenue cliff from DSV," RBC says. However, the 20% growth in volumes WiseTech reports for the past six months may not necessarily signal a sustained commitment on CargoWise, says the broker. "Nor does it mean DSV are giving up their ambitions to roll out onto Tango under their 'Count to One' tech consolidation strategy," it says. RBC has an outperform rating and a A$70.00 target on WiseTech. The stock is down 2.7% at A$33.71. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0500 GMT - Mainland Chinese airlines are expected to post deeper 1H losses compared with a year ago due to fuel pressures, HSBC analysts write in a note. Though jet fuel is down 54% since the peak of the Middle East conflict, it still remains higher than the pre-war average, they write. The divergence between the Big 3--Air China, China Southern and China Eastern--and Cathay Pacific is deepening, with Cathay expected to log a profit for 1H on robust premium demand and cargo yields, they say. "The question is no longer whether fuel is falling, but whether it declines quickly enough to restore profitability for the Big 3 before peak summer demand fades," they add. HSBC retains a buy rating on Cathay and a hold for the Big 3's A and H shares. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

July 10, 2026 03:22 ET (07:22 GMT)

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