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

0737 GMT - EU approval for MMG's acquisition of Anglo American's Brazilian nickel business would be "the very best outcome" for European stainless steel customers and for the company's workers in Brazil, the London-listed mining company's chief operating officer Ruben Fernandes says. His comments come on the back of a closed-door hearing with EU merger officials Thursday, who have raised concerns the transaction could divert supplies from Europe to China. "Prohibition means that we will head towards 'care and maintenance' as the pathway to closure of the operations in Brazil. That would be the ultimate lose-lose outcome," he says, adding that Anglo American presented "the clear realities of the market during the hearing."(edith.hancock@wsj.com)

0732 GMT - CaixaBank shows little sign of weakening in its underlying business, despite the share price underperforming recently compared to peers, Citi analysts write. Shares in the Spanish bank have fallen over the past month, after management made cautious comments on deposit growth. However, the bank continues to gain market share across key products, and its earnings per share are less sensitive to a weakening in deposit growth than some peers, the analysts say. "In our view, the magnitude of [CaixaBank's] underperformance appears inconsistent with the relative earnings risk implied by our stressed deposit scenarios," Citi notes. Shares are up 0.8% but have fallen 9.1% during the last month. (michael.hennessey@wsj.com)

0718 GMT - European stock indexes rise at the open, buoyed by a pullback in bond yields and an easing in oil prices. Banking, software and energy-intensive stocks trade up, lifting the Stoxx 600 0.8% higher. London's FTSE 100 rises 0.8%. Miners in the index gain as metals prices advance, while software group Relx is up 2.7%. The German DAX adds 0.6%, led by a 2.8% jump for software giant SAP. Deutsche Telekom tumbles 7%, however, after SpaceX accelerated its efforts to build a mobile network. In Paris, the CAC 40 jumps 0.8% as luxuries strengthen, though Orange--down 2.6%--drags the index. Italy's FTSE MIB gains 0.9%, while the Spanish IBEX 35 adds 0.1%. The Dutch AEX rises 0.6%, though ASML slips 0.9%.(josephmichael.stonor@wsj.com)

0717 GMT - U.K. grocer Tesco's recent update provides a constructive read-across for peer Sainsbury's, when it comes to margin outlook, analysts at J.P. Morgan say in a note. Sainsbury's is like Tesco in that the analysts are confident that it can deliver margin expansion coupled with retail profit growth on-year in first-half results, they say. (aimee.look@wsj.com)

0701 GMT - British energy major BP's deleveraging efforts are ahead of plan, Baader Helvea's Frederic Lorec writes, as he upgrades the stock's target price to 636 pence from 549 pence. He also upgrades the adjusted earnings per share forecast to $1.17 in 2026 and $0.81 in 2027, from $0.69 and $0.59. The upgrade stems from higher Brent prices and strong refining margins, he writes. (adam.whittaker@wsj.com)

0659 GMT - Tesco's profit growth is increasingly being supported by strong sales mix, analysts at Deutsche Bank say in a note. The chain is a best-in-class operator in the U.K. grocery segment, and it has shown resilient earnings, the analysts say. Even despite a weak consumer sentiment in the U.K., it has strong scale advantages, balance sheet and value credentials, which position it for outperformance, the analysts say. (aimee.look@wsj.com)

0650 GMT - SSP Group's latest update shows a tough U.S. market is weighing on profitability, but the U.K. company's renewal of its buyback looks reassuring, RBC Capital Markets' Manjari Dhar and Richard Chamberlain say in a research note. The operator of food outlets at travel hubs signaled fiscal 2026 revenue would be broadly as expected, underlying operating profit weaker than forecast and EPS a touch ahead, according to RBC. SSP also renewed its 50 million-pound buyback for fiscal 2027, which should reassure investors, the analysts say. "We think that SSP has been executing better in recent periods, but we are conscious that passenger volumes have been softening in the important U.S. region and we think that higher jet fuel prices may weigh on travel demand near-term," they add. (adria.calatayud@wsj.com)

0629 GMT - Semiconductor companies are set to voice confidence during the upcoming earnings season despite concerns over the sustainability of AI infrastructure spending, Bernstein analysts say in a research note. AI investments are now so massive and are approaching major and hard limits that can't be simply explained by supply and demand, they say. Rising borrowing costs, increasing safety and environmental concerns as well as regulatory guardrails could trigger a deceleration in semiconductor demand. However, signals from the upstream semiconductor supply chain continue to point to unabated AI demand and continued shortage, they say. Bernstein still holds a positive view on the upcoming earnings results and outlooks offered as some of the concerns above have been priced in the recent correction. (sherry.qin@wsj.com)

0629 GMT - Tata Consultancy Services' second-quarter results offer little evidence to support an upturn in demand outlook, say Jefferies' analysts in a note. A pickup in growth in the U.K. was a positive surprise, but weak growth across other key regions, a 4% on-year drop in deal bookings, and rising margin pressures should keep the company's earnings growth in check, the U.S. bank says. While a 6% dividend yield may limit downsides, the stock is likely to underperform amid an uncertain growth outlook, it says. Jefferies maintains an underperform rating and a target price of 1,800 rupees. Shares are 4.2% higher at 2,163.15 rupees. (kosaku.narioka@wsj.com; @kosakunarioka)

0603 GMT - Tata Consultancy Services' 2Q results suggest continued slow growth trends for the Indian information technology services sector, Citi Research's Surendra Goyal says in a note. Tata Consultancy's total contract value and headcount trends don't improve visibility, Citi says. Meanwhile, margin headwinds are evident, with margin declining from a year earlier despite a weaker rupee, the analyst says. The bank stays cautious on the sector given slow growth, elevated competition and artificial intelligence's impact on business. Citi cuts its target price to 1,840 rupees from 1,875 rupees and maintains a sell rating. Shares are 5.2% higher at 2,184 rupees. (kosaku.narioka@wsj.com; @kosakunarioka)

0530 GMT - Terumo's exit from its plasma collection business is likely to drag sales in the near term but strengthen its longer-term earnings, Jefferies analysts say in a note. As a result of the exit, the Japanese medical equipment maker is taking a $610 million charge and cutting fiscal-year earnings guidance. The U.S. bank cuts its Terumo revenue forecast for the fiscal year starting in April 2027 but raises operating profit estimates for the period onward. The bank says Terumo management expects profitability for blood and cell technologies to improve, as resources are redirected toward higher-growth, higher-margin apheresis and blood processing franchises. Jefferies cuts its target price to 2,700 yen from Y3,300 and keeps its buy rating. Shares are 2.0% lower at Y2,261.5.