The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0917 ET - The investment case for private equity group 3i is grounded in the performance of discount chain Action, RBC analysts write. The FTSE 100 investment group owns close to a two-thirds stake in the retailer, and though Action has significantly outperformed in recent years the market outlook is difficult, the analysts say. "The outlook for discount retailers in Europe looks tougher now, given ongoing spending pressures on low income consumers and higher competition from Chinese e-tailers," they say. 3i gave a trading update Thursday morning with Action's fourth-quarter sales performance, which resulted in the value-per-share of the private equity group's investment portfolio rising 5.6% on quarter. 3i shares climb 10.5%. (josephmichael.stonor@wsj.com)

0841 ET - Lloyds Banking Group's diversification helped the company to forecast-beating 2025 profits as it effectively hedged its exposure to falling interest rates, Interactive Investor's Richard Hunter writes. The hedging will help revenues into 2026, he adds. In addition, the group's focus away from its traditional banking business to develop digital and wealth-management offerings will diversify income streams, J.P. Morgan analysts say. The company offers significant earnings potential which isn't reflected in the market's overly-high view on the opportunity cost of owning the stock, the analysts add. Shares rise 1.6%. (josephmichael.stonor@wsj.com)

0803 ET - Deutsche Bank closed 2025 on a high note and its revenue guidance for the year ahead could be exceeded, Bank of America analysts say in a research note. The German bank's solid fourth-quarter results helped it deliver on all its 2025 targets, setting the tone for an attractive turnaround story over the next three years, Bank of America says. Investors' focus now shifts to Deutsche Bank's 2026 prospects, and the bank has room to beat revenue guidance of 33 billion euros thanks to better net interest income, the analysts say. The German stimulus program could boost its personal banking and corporate banking arms, while favorable developments in capital markets could also help, they add. Bank of America estimates Deutsche Bank's 2026 revenue at 33.7 billion euros. Shares rise 0.2%. (adria.calatayud@wsj.com)

0549 ET - Deutsche Bank received authorization for 1 billion euros in share buybacks and aims to hand more capital to shareholders in the second half, suggesting returns could exceed market expectations, Jefferies analysts say. Analysts currently expect Deutsche Bank to carry out share buybacks of 1.535 billion euros in 2026, according to consensus estimates compiled by the bank. The German lender's fourth-quarter results were mixed at the divisional level, with asset management and the corporate segment leading a beat to expectations, Jefferies says. Guidance for 2026 is broadly in line with consensus, Jefferies says. Shares fall 1.9% to 32.25 euros. (adria.calatayud@wsj.com)

0540 ET - Deutsche Bank seems on course for its 2028 profitability target, creating momentum on key drivers of an improvement in its efficiency, J.P. Morgan analysts say in a research note. The German bank in November set a target for a return on tangible equity--a key profitability metric--topping 13% in 2028, which seems on track, according to JPM. Looking at the near term, the bank is signaling a strong start to the first quarter, JPM says. While early in the year, this bodes well for its 2026 revenue target of 33 billion euros, the analysts say. Moreover, a buyback program of 1 billion should help confirm confidence, JPM says. Shares fall 1.75%. (adria.calatayud@wsj.com)

0459 ET - Deutsche Bank's 2026 outlook seems disappointing and the results seem unlikely to move the needle for investors, Keefe, Bruyette & Woods's Thomas Hallett and Andrew Stimpson say in a research note. The lack of profitability guidance looks underwhelming and revenue and cost targets are in line with consensus expectations, KBW says. The quarterly results look good, but the outperformance stems largely from asset-management performance fees and the corporate & other segment, according to KBW. "Overall, there is little in this release that moves consensus in either direction," the analysts say. "However, despite the recent share price underperformance into the print, these results are not enough, in our view, to shift sentiment meaningfully." Shares fall 1.75%. (adria.calatayud@wsj.com)

0346 ET - The outlook for 3i Group's discount retailer Action for France still looks tough despite reporting better-than-expected fourth-quarter sales and Ebitda, RBC Capital Markets analysts say in a note. France, Action's largest market and representing around one third of sales, has been affected by consumer caution. Still, although October and November sales were down, comparative sales have grown 6.1% in January. "We think the outlook for discount retailers in Europe looks tougher now, given ongoing spending pressures on low income consumers and higher competition from Chinese e-tailers," RBC says. Shares are up 15% at 3,619 pence. (anthony.orunagoriainoff@dowjones.com)

0340 ET - Germany's DWS reported better-than-expected results for the fourth quarter and raised its midterm growth targets, which point to 2028 earnings above current forecasts, Citi analysts say in a research note. The asset management arm of Deutsche Bank now expects earnings-per-share growth of 10% to 15% a year until 2028, up from its previous target of 10% a year through 2027. Taking into account that DWS ended 2025 with higher-than-expected EPS, its new guidance points to 2027 earnings 8%-18% above a company-collected consensus and 2028 earnings 16%-30% above Visible Alpha consensus, according to Citi. This, together with plans to return excess capital to shareholders in 2027, should trigger a positive market reaction, the analysts say. Shares jump 8%. (adria.calatayud@wsj.com)

0252 ET - ING's upgraded guidance for 2026 and 2027 is mixed as analyst expectations are already at those levels and it doesn't take into account its Russia exit, Jefferies says in a research note. The Dutch bank guided for 24 billion euros in income this year and 25 billion euros next, but analysts already pencil in 24.2 billion euros and 25.8 billion euros, respectively, analysts write. Other guided metrics, such as fee income, total expenses and return on tangible equity also align with existing consensus expectations. Beyond this, the group posted a decent fourth-quarter print on higher revenues helped by one-off fees and slightly better costs, they add. (elena.vardon@wsj.com)

0234 ET - The results published by Deutsche Bank are consistent with the message the German lender delivered at its recent investor day, RBC Capital Markets says in a research note. The group's print reflected a strong performance in asset management, control on costs and loan-loss releases. "[Fourth-quarter] performance and the outlook for 2026 are in line with the direction provided at the [Investor Deep Dive] and close to consensus expectations," analysts write. (elena.vardon@wsj.com)

0149 ET - Skandinaviska Enskilda Banken's latest results look mixed, showing a weak quarter for revenue but bigger-than-expected dividends, Keefe, Bruyette & Woods's Hari Sivakumaran and Fatima Ghaznavi say in a research note. The Swedish bank missed revenue expectations by 3% due to lower-than-forecast net interest income and trading revenue, the analysts say. Cost guidance for 2026 looks weaker than expected and a quarterly buyback of 1.25 billion Swedish kronor is also smaller than what analysts had forecast, KBW says. On the plus side, total dividends are larger than expected when including a special dividend of 2.50 kronor a share on top of an ordinary dividend of 8.50 kronor a share, the analysts say. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

January 29, 2026 12:20 ET (17:20 GMT)

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