The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
2137 ET - Copper rises in Asian trade, with the three-month contract on the London Metal Exchange gaining 1.6% to $12,294.00 a metric ton. There are signs of more Chinese buying amid a lower-price environment, say ANZ Research analysts in a note. Still, persistent global inflation and growth concerns triggered by the Middle East conflict could offset the increased buying, they add. (megan.cheah@wsj.com)
2124 ET - Heineken Malaysia could see mid-term earnings support after its parent company Heineken NV plans to scale down production at its Singapore brewery and shift output to Malaysia and Vietnam, TA Securities analyst Liew Yi Jiet says in a note. The move could expand Heineken Malaysia's export footprint in Singapore and the broader Asia-Pacific, providing gradual earnings support through end-2027, he says. Based on Liew's assumptions that 60% of Singapore-bound exports are fulfilled by Heineken Malaysia, this could translate into estimated revenue gains of 344.7 million ringgit in 2027 and 360.4 million ringgit in 2028. TA Securities maintains a buy rating on Heineken Malaysia and keeps its target price unchanged at 25.80 ringgit. Shares are 1.3% higher at 22.48 ringgit. (yingxian.wong@wsj.com)
2108 ET - Press Metal Aluminium is expected to benefit from elevated aluminum prices and lower alumina costs amid additional demand from Asia-Pacific buyers seeking alternative supplies, Hong Leong IB analyst Thye May Ting says in a note. Ongoing geopolitical tensions are likely to support aluminum prices in the near term, she says. Prolonged disruptions in the Middle East could push the global aluminum market into a supply deficit in 2026, keeping prices elevated, she adds. Thye raises her Press Metal's 2026 and 2027 earnings forecasts by 13% and 18.7%, respectively, to factor in higher LME aluminum price assumptions. Hong Leong upgrades Press Metal's rating to buy from hold, raises target price to 8.63 ringgit from 7.64 ringgit. Shares are up 1.1% at 7.39 ringgit. (yingxian.wong@wsj.com)
2106 ET - Q&M Dental Group could double its earnings after it completes the acquisition of more than 70 dental clinics in Australia, Singapore and Thailand, says Phillip Securities' Paul Chew in a note. The acquisitions are valued around an estimated S$272 million, he notes. The long tenure of the share moratorium and service agreement tied to one of the deals could help Q&M to scale up a new franchise and platform, the head of research adds. These deals could help to boost the Singapore-listed dental group's EPS by around 80%, he says. Phillip Securities raises its target price to S$0.71 from S$0.545 and retains its buy rating. Shares last closed at S$0.53. (megan.cheah@wsj.com)
2055 ET - Life360's bull at Bell Potter doesn't see much chance that the location-app developer upgrades its full-year guidance with its 1Q trading update. Analyst Chris Savage reckons that a small beat to 1Q earnings expectations is possible, but points out that the dual-listed company is unlikely to change its outlook so early in the year. He adds that expectations for the March quarter are quite modest. Life360 does have a track record of raising guidance but didn't do so until 2Q last year, he says. Bell Potter trims its target price on Life360's Australia-listed stock 5.6% to A$37.75 and maintains a buy rating. Shares are up 2.2% at A$19.83. (stuart.condie@wsj.com)
2044 ET - National Australia Bank gets a new bear at Morgan Stanley, where it is seen as the local lender with most to lose from a broader economic slowdown. Lowering his recommendation to underweight from equal-weight, analyst Richard E. Wiles tells clients in a note that the probability of both earnings downgrades and trading multiple de-ratings across the sector is rising. The investment bank's macro team sees tightening fiscal policy and a global energy shock as threats to economic growth. Wiles says that NAB's larger exposure to small- and medium-sized enterprises makes it the most vulnerable. Target price falls 8.5% to A$39.80. Shares are up 1.6% at A$43.45. (stuart.condie@wsj.com)
2029 ET - Telstra's move to raise prices earlier than UBS analysts had expected is seen at the investment bank as offsetting the impact of a likely slowdown in subscriber growth. The analysts had been expecting Telstra to lift its mobile prices in July, but Australia's largest telco is pushing through changes in May. The benefit to average revenue per user "continues to offer us comfort for the sector to continue to extract meaningful price growth," they write in a note. The analysts are watching underlying subscriber trends following a material slowdown in postpaid services over the December half. The price rises could drive elevated churn rates, they add. UBS lifts its target price by 1.9% to A$5.30 and keeps a neutral rating on the stock, which is up 0.1% at A$5.345. (stuart.condie@wsj.com)
2020 ET - Japanese stocks are broadly higher due to continued hopes for possible negotiations between the U.S. and Iran to end the war. Metals and chip-related stocks are leading gains. Mitsui Kinzoku is up 7.9% and Tokyo Electron Ltd. is 4.3% higher. The dollar is at 158.70 yen, compared with Y158.67 as of Tuesday's Tokyo stock market close. Investors are closely watching developments in the Middle East as well as any Japanese government responses to the shortage of energy and petrochemical products. The Nikkei Stock Average is up 3.0% at 53811.99. (kosaku.narioka@wsj.com; @kosakunarioka)
2018 ET - Cochlear's bulls at UBS reassure investors that any impact on demand from gene therapies for congenital hearing loss remains many years away. Analysts at the investment bank acknowledge that therapy efficacy data is encouraging but stress that there will be no near-term material impact on the Australia-listed hearing-implant maker. For now, they tell clients in a note that they expect Cochlear's new Nexa implant to boost the company's market share. A recent sell-off in the stock is just an opportunity, they add. UBS keeps a buy rating and A$302.00 target price on the stock, which is up 1.5% at A$163.77. (stuart.condie@wsj.com)
1948 ET - Japanese stocks may rise thanks to continued hopes for U.S.-Iran talks to end the war. Nikkei futures are up 1.6% at 53220 on the SGX. The dollar is at 158.69 yen, little changed from Y158.67 as of Tuesday's Tokyo stock market close. Investors are focusing on developments in Iran as well as any Japanese government responses to a shortage of energy and petrochemical products. The Nikkei Stock Average rose 1.4% to 52252.28 on Tuesday.(kosaku.narioka@wsj.com)
1916 ET - Venezuelan opposition leader María Corina Machado says the South American country could produce more than 5 million barrels a day of oil, but would need investment of $150 billion over 10 years. The country currently produces about 1 million b/d. Her movement would offer investors the right institutional, fiscal and contractual conditions in a fully private oil and gas sector, offering "the most competitive government take in the Western Hemisphere," Machado says at the S&P Global CERAWeek conference. The state would have only a regulatory role, and state oil company PdVSA would be downsized and eventually privatized. Venezuela has yet to set elections following the January ouster of former president Nicolás Maduro, and the Trump administration is working closely with acting president Delcy Rodríguez, who was Maduro's vice president. (anthony.harrup@wsj.com)
1825 ET [Dow Jones]--Veem's share price is down nearly 70% since the start of October after the company slugged investors with two major downgrades and a A$24.8 million gyrostabiliser related writedown. Still, Ord Minnett believes Veem has turned a corner on the road to recovery. It upgrades Veem to accumulate, from hold, even as it cuts earnings forecasts for FY 2026-2028 by 40-67%. Analyst John Lawlor says it will take until FY 2027 for Veem's recovery to be reflected in its financial results. "We remain of the view that Veem has significant submarine, propeller, and defence capabilities which will be highly sought after as global defence budgets increase dramatically over the next decade," Ord Minnett says. Veem ended Tuesday at A$0.58, below Ord Minnett's new A$0.90/share price target. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 24, 2026 21:37 ET (01:37 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments