The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0953 GMT - Arm Holdings' move to sell its own semiconductor chips will add a new source of growth, which is set to meaningfully boost earnings, Deutsche Bank analysts write. The pivot will generate around $15 billion annually in sales in 2031, the company said. However, the shift means Arm will now compete directly with its historical customer base, the analysts say. Arm's margins will also compress over time as the company is compared more to other artificial-intelligence companies, they add. Arm Holdings shares surge by almost 13% to $152.07, around three times the stock's price at its initial public offering in September 2023.(josephmichael.stonor@wsj.com)
0931 GMT - German defense company Renk is looking to strengthen its naval business, potentially via mergers and acquisitions, CEO Alexander Sagel told the Jefferies European Mid-Cap conference Tuesday. The gearbox maker also sees the secondary market for spare parts, accessories, and components for military equipment as an increasingly attractive mid-term growth opportunity, Jefferies says. Renk's management is very confident about its margin progression this year, Jefferies adds. Shares are up 1.4% at 51.83 euros. (cristina.gallardo@wsj.com)
0917 GMT - Xiaomi's near-term smartphone gross profit margin appears more resilient than expected due to prior stocking of memory components, Daiwa analysts write in a note. The 2027 outlook remains cloudy, however, due to the prolonged memory cost hike cycle, they add. The analysts note that the smartphone segment's margin declined to 8.3% in 4Q on rising memory costs, but expected price increases from Xiaomi in April will provide some margin support. The company's more effective pricing decisions, gradual cost pass-through and disciplined inventory management could help margins, Daiwa adds. The brokerage maintains a buy rating on the stock but cuts the target price to HK$42.00 from HK$45.00. Shares end at HK$32.52. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
0915 GMT - Shares in U.K. housebuilders rise after Crest Nicholson reported improved sales rates since January and reiterated guidance for the year. The company noted that while macroeconomic pressures have yet to leave a mark on business, it remains alert to any shifts in the market landscape. Still, at around 110 pence, it is trading at just 0.35 times its 2026 book value, a steep discount to the broader housebuilding sector's 0.63 average, suggesting that investors might be wary of the housebuilder's specific recovery prospects, RBC Capital Markets analysts say in a note. Crest Nicholson Shares are up 11%, followed by Bellway, Vistry and Taylor Wimpey, up 4%, 3.5% and 2.7%, respectively. (anthony.orunagoriainoff@dowjones.com)
0856 GMT - SK Hynix could get a valuation boost from listing American depositary receipts this year, Mirae Asset Securities' Kim Young-gun says. The South Korean chip maker's ADR listing could highlight a valuation gap with its locally traded shares, potentially lifting the stock's valuation, the analyst writes in a note. He points to SK Hynix's relatively lower valuation compared with U.S. peers, including Micron Technology. The Korean company trades at a forward price-to-earnings ratio of around 5.9X compared with 7.8X for Micron, he notes. The company could issue new shares equal to 2.5% of outstanding to back the ADR offering and raise up to 15 trillion won, he adds. (kwanwoo.jun@wsj.com)
0851 GMT - Central banks across Asia have struck a cautious tone around tensions in the Middle East, says OCBC's Lavanya Venkateswaran. The pain from higher energy prices and reduced oil and natural gas imports is akin to a gut punch for economies like India, the Philippines, Thailand and Vietnam, she says. These economies are net energy importers and, absent subsidies, will see building inflationary pressures. Authorities in India, Thailand and Vietnam can shift some of the subsidy burden off-budget, but that kicks the can down the road, the senior economist says. Indonesia and Malaysia can buffer the impact with fiscal cushions, but the duration and persistence of higher oil prices will significantly affect their ability to keep fiscal backstops in place. (fabiana.negrinochoa@wsj.com)
0849 GMT - Crest Nicholson's business update is robust as it reported a sustained improvement in sales rates since the middle of January, RBC Capital Markets analysts Anthony Codling and Oliver Dyson say in a note. The house builder also reiterated guidance of open market sales units of 1,100 to 1,200, with total sales including bulk deals of 1,550 to 1,625 units. This compares with Visible Alpha consensus of 1,641 units, the analysts say. Adjusted pretax profit is expected in a 32 million to 40 million pounds range, which is 2.8% above consensus, they say. "Following a period of sustained weakness in the share price, we expect the share price to react positively to [Wednesday's] news," the analysts say. Shares are up 13% at 1.13 pounds. (anthony.orunagoriainoff@dowjones.com)
0844 GMT - Airline stocks rise after oil prices fell on reports that the U.S. sent Iran a 15-point plan to end the Middle East conflict and that Iran would allow "non-hostile vessels" through the Strait of Hormuz. Air France and Wizz Air were the biggest gainers--rising 3.9% and 3.1%,respectively. Closely behind are British Airways owner International Consolidated Airlines Group, easyJet and Lufthansa--rising 2.5%, 2.6% and 2.3%, respectively. Brent crude is down 4.5% at $95.72 a barrel, while WTI falls 3.9% to $86.28 a barrel. (ian.walker@wsj.com)
0828 GMT - London's mining stocks gain in opening trade on optimism that there could be a path to de-escalation in the Middle East. Oil prices are moving lower while stocks that were weighed down by inflation fears and the risk of higher interest rates are getting a boost, Hargreaves Lansdown's Matt Britzman writes. The prospect of a meeting between Washington and Tehran later this week is offering optimism that there might be a route to de-escalation. Precious metal miners Fresnillo, Hochschild Mining and Endeavour are all up over 3%. Anglo American rises 3.5%, while copper miner Antofagasta trades 3.2% higher. Glencore gains 1.55%. (adam.whittaker@wsj.com)
0822 GMT - SATS Ltd. appears relatively resilient to the oil-price surge from the Middle East conflict, say Maybank Securities' Liu Miaomiao and Eric Ong in a note. The air-cargo handler's diversified global network and limited exposure to the Middle East is likely to support its near-term earnings, they say. Oil prices above $100 a barrel are more of a demand headwind than cost driver for SATS, as it has no direct fuel exposure, they note. Still, the company faces key risks from second-order effects, such as reduced airline capacity, flight rerouting and uncertainty around jet-fuel availability, the analysts add. Maybank Securities retains its buy rating and S$4.52 target price. Shares rise 0.55% to S$3.63. (megan.cheah@wsj.com)
0822 GMT - European blue-chip indexes jump at the opening bell on cautious optimism that the Middle East conflict is de-escalating. Energy is the one outlier as nearly all sectors gain, with the Europe-wide Stoxx 600 gaining 1.2%. The energy-sensitive DAX climbs 1.7% in Frankfurt as industrials gain, with Siemens opening 2.8% higher. In Paris, the CAC 40 is 1.4% higher as construction companies and banks gain--industrials group Legrand is up 2.8%. A bump for precious metals helps London miners, though energy companies restrict the FTSE 100's gains to 0.8%. Italy's FTSE MIB and the Spanish IBEX 35 are both around 1.4% higher. Airline group IAG is up 2.5%, while cable manufacturer Prysmian jumps 3.5% in Milan. (josephmichael.stonor@wsj.com)
0817 GMT - European energy stocks fall as diplomatic efforts to end the conflict in the Middle East push oil prices lower. Brent crude falls 4.5% to $95.76 a barrel while WTI drops just over 4% to $85.96 a barrel. The U.S. has sent Iran a 15-point plan to end the war while mediators are pushing for a meeting between Washington and Tehran later this week. In London, Shell drops 1.6% while BP falls 0.8% and Harbour Energy slides nearly 3.5%. Italy's Eni trades 2.6% lower while Spain's Repsol falls 1.5%. Norway's Equinor slides 2.2% and France's TotalEnergies drops 1.4%.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
March 25, 2026 05:53 ET (09:53 GMT)
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