The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1132 GMT - UBS Group has options at its disposal to mitigate a potential hit from new Swiss capital rules, but it probably sees moving out of its home country as a last resort, Bank of America's Antonio Reale and Rohan Datta say in a research note. The Swiss bank could explore selling assets, including its U.S. business, before moving its base overseas, according to Bank of America. "Re-domiciliation is not a straightforward process for banks, even less so for a Swiss wealth manager," the analysts say. "Switzerland's international ties and its history of neutrality have nurtured a unique environment." Shares rise 3.2%. (adria.calatayud@wsj.com)
1121 GMT - Puma shares jump after Chinese sports retailer Anta Sports, which is set to become the German group's largest shareholder, reported strong results. Anta agreed to buy a 29% stake in Puma in January. The Hong Kong-listed company reported sales for the second half of 2025 1% higher than consensus forecasts, while net profit was 2% higher, Jefferies analysts write. Anta's stake in Puma is expected to help the German brand expand into China, while also improving the company's distribution and digital operations, analysts at Baader write. Puma shares gain 7.3%. (josephmichael.stonor@wsj.com)
1027 GMT - Oil prices extend losses, plunging more than 5% as diplomatic efforts to end the Iran war overshadowed continued military strikes and the effective blockade of the Strait of Hormuz. In mid-morning European trading, Brent crude is down 5.4% to $94.82 a barrel, while WTI falls 5% to $85.23 a barrel. Still, "the conflict has triggered widespread energy stress, including surging diesel prices, fuel shortages in multiple countries, and increased demand for alternative supplies, while uncertainty over negotiations and ongoing attacks continues to keep markets highly volatile," says Soojin Kim, analyst at MUFG. (giulia.petroni@wsj.com)
1000 GMT - Delivery Hero's disposal program is likely to stay small-scale for now, J.P. Morgan analysts write in a note to clients. The German food-delivery group said it would sell its Foodpanda platform in Taiwan to Grab Holdings for $600 million, kicking off a streamlining program it set out late last year in response to investor pressure. But despite continued demands from a major shareholder, large-scale M&A looks unlikely at this point, JPM says. Instead, the most probable next divestment will be of the group's Latin American business to investor Prosus, the bank adds. JPM has an overweight rating on the company and a 28-euro price target on its stock. (joshua.kirby@wsj.com; @joshualeokirby)
0955 GMT - The U.K. inflation data due to be released in April will carry more weight than Wednesday's print as it will show the impact of the Middle East conflict, RBC Capital Markets strategists say in a note. Tensions in the Gulf region have led to a sharp rise in energy costs, raising the risk of high inflation around the globe. The latest data shows annual U.K. inflation in February was 3.0%, unchanged from the January inflation and in line with the consensus forecast by economists in a WSJ poll. (miriam.mukuru@wsj.com)
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)
(END) Dow Jones Newswires
March 25, 2026 07:32 ET (11:32 GMT)
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