Global Equities Roundup: Market Talk

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

0905 GMT - Keppel REIT's sale of its stake in a Tokyo property could be followed by a divestment of T Tower in Seoul as the trust focuses on shrinking its portfolio this year, Citi analyst Brandon Lee says. The trust is likely to retain its Singapore portfolio, based on management's comments at an analyst briefing, he says. Proceeds from the Tokyo sale may be used to reduce debt and repurchase units, with no acquisitions currently planned. Citi says greater clarity on future plans may be positive for its units. It maintains a neutral rating on Keppel REIT, citing high gearing and muted distribution-per-unit growth. Citi retains its 0.95 Singapore dollar target price. Units rise 2.8% to S$0.915.(megan.cheah@wsj.com)

0905 GMT - Danone's lower-than-expected volume growth was compensated for by higher price growth, RBC's James Edwardes Jones says in a note. The food maker's results for the second quarter and first half on Wednesday showed slightly lower volumes than anticipated, but sales growth was boosted by price, he says. This is also a contrast with consumer goods peer Unilever's results yesterday, he adds, when the company reported strong volumes. Shares are down 4.5% at 69.02 euros. (aimee.look@wsj.com)

0900 GMT - Legrand raising its guidance is the standout positive, Bernstein analysts say in a research note. The French infrastructure manufacturer raised its 2026 like-for-like growth guidance by 450 basis points to a range between 8% and 10%. Coupled with the upgraded scope guidance, the implied full-year sales now sit 1% ahead of consensus estimates, the analysts say. Nevertheless, Legrand's adjusted operating profit margins missed expectations, while Europe disappointed on margins and growth, the analysts add. Overall, "we see the strong top line performance and confident guide as a near-term tonic for the shares," they add. Shares trade 0.5% lower at 128.45 euros. (nina.kienle@wsj.com)

0853 GMT - Consensus estimates for ASM International's 2027 revenue are unlikely to materially rise even though the company said it expected sales to grow more than previously thought, Jefferies analysts write in a note to clients. The Dutch group, which supplies chip makers with wafer processing equipment for the deposition of thin films, said 2027 revenue should exceed the top end of a range from 3.7 billion to 4.6 billion euros. Analysts had already forecast revenue well above the range at nearly 4.89 billion euros, according to Visible Alpha. ASM International shares trade 8% lower at 695.60 euros. (mauro.orru@wsj.com)

0851 GMT - Weir Group's results should put a number of recent concerns to rest, Jefferies analysts say in a note. Although the engineering company's sales are ahead of forecasts and Ebita is in line, it is the strong order intake that the market will take well, Jefferies says. Original equipment orders rose 16% in the second quarter and 10% overall in the first half, with after-market orders up 8% for both the quarter and the first half. The results should help shift market sentiment as the stock has faced considerable headwinds in recent months, weighed down by weak investor confidence, Jefferies says. "We expect these results will go a long way to changing the narrative towards Weir," Jefferies says. Shares are up 7.5% at 2,714 pence. (anthony.orunagoriainoff@dowjones.com)

0848 GMT - European indexes turn negative as a selloff in technology stocks deepen. The Europe-wide Stoxx 600 falls 0.3%, with energy-intensive sectors struggling as oil prices advance. The industrials-heavy German DAX falls 0.25%. Defense giant Rheinmetall falls 2.3% while semiconductor company Infineon loses 2.3%. The CAC 40 falls 0.6% as luxury stocks are split, with Kering soaring 11% while Hermes tumbles 7.6% after both posted earnings. Banks weigh on Spain's IBEX 35--down 1.5%--with CaixaBank down 6.1%. Italy's FTSE MIB is down 0.2%. The Dutch AEX loses 0.5% as tech companies struggle to reverse negative momentum. ASM International falls 8%, while ASML loses 2.1%. London's FTSE 100 holds onto its gains, rising 0.1% as higher oil prices support Shell and BP. (josephmichael.stonor@wsj.com)

0814 GMT - Remy Cointreau has been able to offset disruption from the Middle East conflict with stronger performance in other regional markets, says Luca Marotta, deputy chief executive and finance chief of the French cognac distiller. "We achieved strong penetration in many markets," Marotta tells analysts on a call following an earnings update showing better-than-expected revenue growth for the group's mainstay cognac division in its fiscal first quarter. The Middle East conflict had a "slight negative impact" on the EMEA region over the quarter, but this was partly offset by growth in markets like South Africa, the company says. (joshua.kirby@wsj.com; @joshualeokirby)

0806 GMT - Glencore is set to post a very strong first-half marketing performance while production is mostly tracking to guidance, Jefferies analyst Christopher LaFemina writes. The commodities giant expects its traders to post a consensus-beating $3.3 billion in adjusted EBIT. Glencore had guided to the unit's performance normalizing in the second half of the year but there is clearly upside given that energy market dislocations continue, LaFemina writes. The unit's performance will likely drive consensus expectations higher over the remainder of the year and help support further upgrades thereafter, he writes. Shares rise 4.4% to 528.80 pence.(adam.whittaker@wsj.com)

0806 GMT - Italian energy major Eni's strong operational performance continues, RBC Capital Markets analyst Biraj Borkhataria writes. Its second-quarter results are relatively strong, the analyst says after the company posted a 12% beat to net income consensus expectations. Oil and gas production is 3% above market views while the unit's earnings are broadly in line, he writes. Eni's global gas & LNG, Enilive and Plenitude divisions all come in ahead of consensus, he says. Some of this is offset by higher corporate charges, he adds. Shares rise 4.6% to 23.02 euros. (adam.whittaker@wsj.com)

0756 GMT - Japan's planned cut to the food consumption tax is expected to benefit retailers and food and beverage companies, Julius Baer's Louis Chua says. To address rising cost-of-living concerns that have weighed on public approval on inflation management, the Takaichi administration has pledged to cut the food consumption tax to 1% from 8%, effective April 2027. Chua expects retailers, particularly supermarket operators, discount chains and food-heavy drugstores will benefit most. Food and beverage companies with the pricing power to maintain prices or pass through higher costs without hurting sales volumes are also likely to benefit. Elevated market volatility could accelerate a rotation out of technology stocks and into defensive sectors and domestic demand-focused companies in the near term, Julius Baer adds.(jason.chau@wsj.com)

0747 GMT - Solvay posted decent second-quarter results but this level must now be maintained, Bernstein analysts James Hooper and Sebastien Afoy write. The Belgian-French chemical company's second quarter was better than expected with the group maintaining its full-year outlook. If the second-quarter Ebitda is repeated, it is likely to meet the lower end of guidance, on top of several potential sources of improvements for the second half, the analysts say. Solvay saw progress in its rare-earths segment with new customer commitments, leading to the approval of additional strategic investments of between 15 million and 20 million euros to further expand La Rochelle site, Bernstein says. The analysts see this as incrementally positive despite the business being relatively small. Shares trade 2.35% higher at 27.04 euros. (nina.kienle@wsj.com)

0750 GMT - Rathbones Group's first-half update should serve as a reminder to the market of the company's turnaround potential, RBC Capital Markets analysts Ben Bathurst and Jude Neanor write in a note. The U.K. wealth manager reported higher pretax profit with broadly flat net flows in the wealth management business, they note. "This could be the first evidence of green shoots following actions management has taken to improve organic growth," they say. Additionally, the group's recovery in asset-gathering performance during the second quarter is reassuring, they say. Shares are down 2% at 16.84 pounds. (najat.kantouar@wsj.com)

(END) Dow Jones Newswires

July 29, 2026 05:05 ET (09:05 GMT)