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

1102 ET - Saudi banks delivered higher second-quarter earnings despite slower credit growth, as better pricing supported income, Al Rajhi Capital says. Aggregate net profit rose 8% on year and came in 4% above consensus, while net funded income increased 9%, helped by improved margins and liquidity conditions. Loan growth was a more modest 7%, and the three largest banks lowered their 2026 loan-growth guidance as they shift their focus toward value over volume, the brokerage says. A 38% increase in provisions limited the benefit to earnings, leaving the sector with a mixed set of results. (farhan.rafid@wsj.com)

1059 ET - The recovery in tourism to the Gulf from outside the region remains slow and could stay weak for some time, Capital Economics says. Concerns about renewed conflict and flight cancellations risk continuing to weigh on travel by non-GCC visitors, says William Jackson, chief emerging markets economist at Capital Economics. Spending in Bahrain on cards issued outside the Gulf is down around 40% from a year ago, while spending on GCC-issued cards has largely recovered, he says. If the weakness persists, tourists could increasingly shift to destinations including the Caribbean, Indian Ocean and Southeast Asia, with Morocco and Thailand also potential beneficiaries, Jackson says. (farhan.rafid@wsj.com)

1057 ET - Stocks in Abu Dhabi extend gains from the previous session, while Qatar stocks continue to fall, with their benchmark indices rising 0.2% and falling 0.5%, respectively. Abu Dhabi's relative strength looks constructive, supported by resilient earnings and its banking and telecom sectors, says Mazen Abou Ismail, head of trading desk at FFA Private Bank Dubai. Qatar remains more vulnerable given its exposure to regional energy and LNG-related risks, helping explain the continued weakness, he says. Geopolitics remains the main driver of GCC sentiment, but differences in fundamentals, valuations and liquidity are increasingly driving relative performance across markets, Abou Ismail says. (farhan.rafid@wsj.com)

0953 ET - Home Depot is continuing to invest in its stores. That means ensuring on-shelf availability remains at record levels, launching new and innovative products, and deploying technology that enhances the customer experience, Ann-Marie Campbell, the company's senior executive vice president of U.S. stores and operations, says on a call with analysts. "This, coupled with all of our investments in our associate experience through technology-enabled tools, makes it easier than ever for associates to serve customers," Campbell says. The efforts are paying off, she adds, noting greater associate engagement and better customer satisfaction scores. Home Depot ticks up 0.3% after the company posts higher 2Q sales. (connor.hart@wsj.com)

0950 ET - Scor should trade at a discount to reinsurance peers, with two potential negative events coming soon, UBS analysts say. The French insurer has materially re-rated year to date, UBS says as it cuts its rating on the stock to sell from neutral. It also lowers the price target to 32.50 euros from 34.50 euros. UBS says the Monte Carlo industry conference in September is likely to pressure consensus forecasts, with higher risk-adjusted price declines than expected. Scor's December capital markets day could see excess distributions delayed due to a shift in the solvency target, the analysts add. The stock is down 2.4% at 33.86 euros. (michael.hennessey@wsj.com)

0918 ET - Aviva is inexpensive compared with U.K. life insurance peers due to its strong earnings-per-share growth outlook, J.P. Morgan analysts say. The U.S. bank raises its operating EPS estimate 1%-2% through 2028 after the insurer's first-half results. JPM's estimates are around 2% to 3% ahead of consensus, it says. "The key investor debates remain the execution of the Direct Line acquisition, the quality of general insurance earnings, the sustainability of reserve releases, and whether wealth can become a larger, capital-light growth engine for Aviva," the analysts write. JPM raises its price target to 815 pence from 800 pence, reiterates its overweight rating for the stock and says it continues to see positive risk-reward in the shares. Shares are up 0.8% at 736 pence and have risen 7.7% year to date. (michael.hennessey@wsj.com)

0836 ET - Home Depot's 2Q comparable sales climbed 1.7% in total and 1.3% in the U.S., both better than last quarter and the best comps in several years, according to D.A. Davidson in a note. "That does not mean that we are out of the woods yet with respect to home-related spending, particularly as rates continue to move back up," analysts Michael Baker and Keegan Cox warn. "But it does show that the worst of the cycle downtrend is likely behind us," they add. Home Depot is benefiting from tariff refunds, which likely contributed to an EPS beat, and presumably gave the company confidence to reaffirm its outlook for the year despite unplanned higher input costs, the analysts say. Home Depot is up 2% premarket. (connor.hart@wsj.com)

0827 ET - Danish drinks group Royal Unibrew is less diversified than its peers but is more expensive, Jefferies analysts write. The 2028 expiration of a distribution partnership with PepsiCo for Denmark, Finland and the Baltics undermines the Danish group's model, the analysts say. The end of the tie-up will lead to transition costs of around 300 million kroner, they say. "We see cheaper and more diversified ways to play EU beer and soft drinks." The group reported first-half earnings before interest and tax of 1.03 billion Danish kroner, 2.5% below consensus analyst estimates Tuesday, the analysts say. Shares fall 6.6%. (josephmichael.stonor@wsj.com)

0752 ET - The U.K.'s competition watchdog says it is concerned that some retailers didn't pass on price reductions on wholesale fuel to consumers fast enough, and this could feed into high margins in the sector. The Competition and Markets Authority is researching how the Middle East conflict is affecting fuel costs. Its latest report, published Tuesday, says the conflict led to sharp rises in wholesale fuel costs, particularly of diesel. The report says the sector saw more sustained falls in wholesale fuel prices in late May and June, but the CMA is concerned that some retailers didn't immediately pass on diesel price falls to drivers. However, it also says that it hasn't found evidence of retailers taking advantage of the conflict by changing their pricing strategies. (edith.hancock@wsj.com)

0750 ET - AI-linked capital expenditure by big companies that manage data centers, or hyperscalers, is the most likely source of a global credit crisis, according to 38% of investors in the Bank of America global fund manager survey. The second most likely source of a credit event is private credit, ranked by 23% of respondents in the survey. (miriam.mukuru@wsj.com)

0735 ET - U.K. jobs data reduces the likelihood of a Bank of England interest-rate hike in September, given that labor-market conditions look set to help rather than hinder the fight against inflation by restraining pay growth, accountants lobby group ICAEW says. "The U.K. labor market remains stuck in a low-churn limbo, with employers reluctant to hire, fire or offer bigger pay rises as they grapple with rising costs, intensifying global headwinds and heightened policy uncertainty," ICAEW's chief economist Suren Thiru says. Falling vacancies suggest labor demand is shrinking, while speculation over the government budget in the fall could damp employers' appetite to hire, he adds. Unemployment held steady at 4.9%, while private-sector earnings fell to 2.8% in the three months through June, the data showed. (edward.frankl@wsj.com)

0730 ET - Gulf markets are likely to remain focused this week on whether negotiations over the Strait of Hormuz translate into a visible improvement in shipping activity, Iridium Advisors says. Higher oil prices are no longer lifting regional markets uniformly, with investors distinguishing between companies benefiting from tighter energy and logistics markets and those exposed to slower trade, travel disruption or margin pressure, the firm says. The final large wave of second-quarter earnings calls should also remain in focus, with 26 scheduled this week before the reporting calendar thins out, Iridium says.