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

0907 GMT - Base metal prices rise, with LME three-month copper up 0.3% at $9,897 a metric ton and LME three-month aluminum up 0.7% at $2,620 a ton. A weaker U.S. dollar has boosted prices, as it becomes cheaper for international purchasers to buy dollar-denominated commodities. China's preliminary trade data for industrial metals shows strong domestic demand, ING analysts say in a note. Copper concentrate imports jumped on month in August as strong domestic refined output boosted raw material demand, ING says. Unwrought copper imports also rose on-month, though year-to-date cumulative imports are still slightly lower on trade uncertainty, ING says. U.S. tariff uncertainty around copper imports saw supply shifted from China to the U.S. in the first half of the year, though this trend could reverse on a levy exemption for refined metal, ING adds. (joseph.hoppe@wsj.com)

0859 GMT - Moncler's third quarter shouldn't look much different from the previous three months, Equita Sim analyst Paola Carboni writes in a note. After a weak July, the Italian luxury fashion firm rebounded in August thanks to an easier comparison base, she says. September will be key, as it is the most important month of the quarter for the brand, Carboni adds. Overall, the third quarter won't differ much from the second one, she says. "Consistent with our recent comments on LVMH, we believe the industry context did not show any significant change in momentum during the summer months," Carboni says. Additionally, the summer months see a higher contribution from tourism, which continues on a downward trend, she adds. Shares are down 0.6% at 46.76 euros. (andrea.figueras@wsj.com)

0852 GMT - Share declines of Pop Mart and peer Bloks may suggest investors are rotating out of the pop-culture sector, Morningstar analyst Jeff Zhang says. Pop Mart fell 7.1% while brick-based toy maker Bloks dropped 2.0%. Secondary-market prices for Pop Mart's Labubu toys are weakening amid restocking and softer demand for some series, the analyst says. Pop Mart has launched mini keychain Labubus to sustain momentum, but negative feedback on product quality is rising--an issue that management needs to address quickly, he adds. (sherry.qin@wsj.com)

0850 GMT - Sun Hung Kai Properties appears well-positioned to capture improving sentiment in Hong Kong's residential market with its rich launch pipeline, say DBS Group Research analysts in a note. Potentially lower mortgage rates, fueled by possible Federal Reserve rate cuts, should help invigorate demand for residential property, they say, which could boost interest in the group's coming launches in Hong Kong. The company's shares are trading at around 59% discount to the current net-asset value appraised by DBS, and the stock valuation remains inexpensive from a historical viewpoint. Any favorable movement in interest rates could send the stock higher, they add. DBS trims its target to HK$102.90 from HK$104.00, while maintaining a buy rating. Shares closed 0.4% higher at HK$92.50. (megan.cheah@wsj.com)

0839 GMT - Malaysia's 3Q GDP growth is expected to remain supported by July's export rebound and limited impact from domestic reforms, CGS International economists Mas Aida Che Mansor and Nazmi Idrus say in a note. Based on their channel checks with the trade ministry, reciprocal tariffs with the U.S. have yet to be finalized, suggesting minimal drag on near-term trade data. Looking ahead, tourism and stronger household spending, backed by higher disposable income and a robust labor market, should underpin growth in 2026, they say. CGS expects Bank Negara to keep interest rates unchanged at 2.75% through end-2025 and into 2026. (yingxian.wong@wsj.com)

0834 GMT - Sterling rises against a weaker dollar but falls versus the euro following a major reshuffle of U.K. Prime Minister Keir Starmer's cabinet triggered by Angela Rayner's resignation as deputy prime minister. Friday's weaker-than-expected U.S. nonfarm payrolls report boosted bets the Federal Reserve will resume cutting interest rates this month, hitting the dollar. However, sterling's gains against the dollar are likely capped by concerns over the U.K. fiscal outlook, softening fundamentals and volatile U.K. government bond markets, Monex Europe analysts say in a note. Sterling risks are "skewed to the downside," especially as the fallout from the cabinet reshuffle begins to be felt, they say. Sterling rises 0.1% to $1.3521 but the euro rises 0.1% to 0.8680 pounds.(renae.dyer@wsj.com)

0832 GMT - Sanofi saw weaker-than-expected data on new eczema drug amlitelimab and is facing vaccine headwinds, Intron Health analysts Naresh Chouhan and Dominic Rose write. This should compel investors to carefully consider when the French pharmaceutical company's blockbuster drug Dupixent will lose patent protection and see generic competitors cut into sales, they add. Dupixent--a drug for diseases ranging from asthma to eczema Sanofi co-developed with U.S. biotech group Regeneron--will retain U.S. market exclusivity until at least March 2031. A weak research-and-development pipeline at Sanofi and slowing vaccine growth add to its problems, the analysts say. Intron lowers its recommendation on Sanofi to hold from buy, cutting its target price on the stock to 78 euros from 125 euros. Sanofi shares fall 0.1% to 79.45 euros. (william.gray@wsj.com)

0829 GMT - ASML Holding's plan to increase European procurement makes sense amid a challenging environment, ING analyst Jan Frederik Slijkerman writes in a note. According to Reuters, ASML agreed to invest 1.3 billion euros in French artificial-intelligence startup Mistral AI's 1.7 billion-euro funding round, becoming its largest shareholder. While the investment isn't material to the Dutch semiconductor-equipment maker's enterprise value--which includes 7.2 billion euros in cash--it is significant compared to the company's 2024 capital expenditures of 2.1 billion euros, he adds. Shares are up 0.9% at 666.30 euros. (najat.kantouar@wsj.com)

0829 GMT - Central and Eastern European stocks have slightly lower valuations compared to their Western Europe counterparts, analysts at the Investment Institute by UniCredit say in a note. Still, the valuation discount has narrowed on prospects of a peace deal between Ukraine and Russia, and improved trade relations, the analysts say. "There is still room for [valuations] to catch up, especially in case of a positive geopolitical shift, but valuations in eastern European stock markets are no longer extremely cheap." (miriam.mukuru@wsj.com)

0812 GMT - Marks & Spencer looks set to outperform rivals amid an uncertain macroeconomic landscape in the U.K., Citi analysts write in a research note. "We see an attractive entry point for a business with good underlying momentum," the analysts say. Shares trade 18% below levels prior to the cyberattack the British retailer suffered earlier this year, they add. The analysts believe that M&S can largely contain the financial impact of the disruption, which forced it to temporarily pause online shopping. Furthermore, the group's fashion division seems to be gaining share with younger customers, while its food business is also on a positive track, they say. Citi upgrades the stock to buy from a neutral rating. Shares trade 1.9% higher. (andrea.figueras@wsj.com)

0811 GMT - U.K. housebuilders' website hits--which measure web traffic--are starting to show early signs that resemble the usual post summer-vacation pickup, Jefferies analysts say in a note. This could be either because of, or despite, speculation over potential changes to stamp duty, a buyers' tax payable on the sale of properties in the country, the analysts say. "While we see risk that near-term customer conversion rates may have dropped, this resilience of web hits we see as indicative of underlying demand once there is greater clarity on government policy," Jefferies says. Vistry Group shares are up 3.15%, followed by Taylor Wimpey, up 0.75%, and Crest Nicholson, up 0.7%.(anthony.orunagoriainoff@dowjones.com)

0758 GMT - Investors are wary awaiting the outcome of a vote of confidence in the government of Francois Bayrou in France. Traders are opting not to take new positions due to the possible risks involved, CMC Markets' Jochen Stanzl says in a note. "There is speculation about the potential collapse of the government, particularly if Prime Minister Bayrou loses the confidence vote scheduled for today," he says. If Bayrou wins the vote, it would be considered an incredible success and boost market sentiment, Stanzl says. (miriam.mukuru@wsj.com)

(END) Dow Jones Newswires

September 08, 2025 05:07 ET (09:07 GMT)

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