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

1021 GMT - China's ability to produce and export green technologies at a low cost has become a key part of renewable and electric vehicle rollouts globally, including Europe, according to Capital Economics in a research note. CE estimates China's export volumes of solar panels, EVs and lithium-ion batteries, where EU counts as a key consumer, have tripled--while prices have roughly halved since 2022. Emerging markets also import growing amounts of green tech from China, it says. "Efforts to now de-risk from China and cut the country from hi-tech supply chains will put ambitions to achieve net zero emissions further out of reach," CE says. (tracy.qu@wsj.com)

1020 GMT - Europe must not remain just a spectator of this week's meeting of Presidents Trump and Xi, Volker Treier of the German Chamber of Commerce and Industry says. "When Washington and Beijing negotiate trade, raw materials, and key technologies, the German economy is directly impacted," he says. Progress in export controls imposed by China and the U.S. is particularly important, given continuing restrictions on critical raw materials, semiconductors, and key technologies, Treier says. "Further tightening could seriously affect German companies." In particular, rare earths and magnets show how vulnerable European supply chains are due to high dependencies, he notes. (edward.frankl@wsj.com)

1015 GMT - Uber's plan to acquire Delivery Hero is a key overhang for Grab's share price, DBS Group Research's Sachin Mittal writes in a note. The deal would bring Foodpanda's Southeast Asian operations under Uber's umbrella, in conflict with its noncompete agreement with Grab. Uber would need to fully divest of its 13.5% stake in Grab, which "makes little strategic sense" given Foodpanda's much smaller regional footprint and likely lower strategic value, Mittal says. He notes that the deal might not secure regulatory approval if Uber doesn't sell its Grab stake. Conversely, an Uber threat to Grab could become real if it does divest, Mittal adds. DBS retains a buy rating on Grab but cuts its target price to $5.00 from $5.93. ADRs last ended at $2.91. (kimberley.kao@wsj.com)

1013 GMT - Brent crude falls below $100 a barrel on hopes for a diplomatic push to end the U.S.-Iran war. The global oil benchmark is down 1.2% to $99.11 a barrel, while the U.S. oil gauge WTI is down 2.7% to $93.20 a barrel after Japan's Kyodo News reported that Iran has proposed to reopen the Strait of Hormuz within seven days if the American blockade is lifted. "The report triggered fresh selling, as traders read it as a fresh de-escalation signal ahead of this week's U.N. General Assembly," says Kaynat Chainwala from Kotak Securities. "Until a concrete outcome emerges from this week's meetings, crude's risk premium looks vulnerable to further unwinding, though stalled talks could just as quickly reverse the move." (giulia.petroni@wsj.com)

0944 GMT - The euro is at risk of falling further given the prospect of the European Central Bank keeping interest rates unchanged in October, ING's Francesco Pesole says in a note. ECB officials have so far kept an October rate hike firmly on the table. "Even so, investors appear increasingly willing to embrace the opposite narrative, pointing to further near-term downside pressure on euro-dollar," he says. Meanwhile, the euro's short-term fair value based on ING's 60-day model dropped below $1.15 for the first time since late July. ING sees the euro potentially falling below June lows of around $1.1320-$1.1330 in the near term. The euro falls 0.1% to $1.1456 after earlier reaching a seven-week low of $1.1433, according to LSEG. (renae.dyer@wsj.com)

0922 GMT - Alibaba stands to benefit further from its AI business development, Citi analysts say in a research note. Chief Executive Eddie Wu's messages of a 20-gigawatt AI infrastructure target by fiscal 2033 could translate to $160 billion in external cloud revenue by then, the bank says. That compares with Citi's current forecast of $100 billion in fiscal 2031. The bank also expects Alibaba to continue its high capital expenditure in the coming years. Citi keeps a buy rating on the stock with a target price of HK$189.00. Shares close 1.95% higher at HK$114.80. (tracy.qu@wsj.com)

0909 GMT - Novo Nordisk's 8% share price fall following the investor day is an overreaction, but proves that investors remain nervous about 2027, with expected price pressure and CagriSema drug launch skepticism, Berenberg analysts write. The Novo story appears more interesting from 2028, with zenagamtide phase 3 data, CagriSema bone and muscle function data and multiple phase 1 and 2 readouts, the bank says. The event provided a comprehensive overview of the company's strategy, R&D pipeline and business operations, but offered only incremental strategic insights, it adds. The 2030 and 2035 sales ambitions were also outlined, which are broadly in line with expectations. Understanding the need to quickly diversify the portfolio ahead of U.S./EU semaglutide patent expiry early next decade, Novo aims to significantly speed up development and supplement the internal pipeline. Shares fall 0.7%. (dominic.chopping@wsj.com)

0902 GMT - The popularity of Meta's new consumer-facing AI agent, Muse, is a sign that demand will grow for products across the AI supply chain, UBS strategists write. The successful launch shows that there are ways for AI companies to make money beyond selling the technology to large companies, they say. The AI product space is increasingly competitive, underpinning demand for computing power and AI infrastructure, the strategists add. "This should benefit high-quality semiconductor and hardware leaders." Meta stock edges up 0.4% premarket after an 11% surge in the last session. Chip makers Intel and Advanced Micro Devices fall 0.7% and 1%, respectively, premarket after double-digit gains Monday.(josephmichael.stonor@wsj.com)

0837 GMT - Volvo Car's third quarter will be hit by several headwinds, including cost inflation, currency and rising depreciation and amortization, Deutsche Bank analyst Nikita Papaccio writes. Overall, the global premium market is now expected to decline more than initially anticipated, with a particularly weak outlook for China, partly offset by improving conditions in Europe, the bank adds. The company is seeing solid order intake for the new EX60, but the production ramp-up remains in progress, so the bank expects the first meaningful financial contribution to become visible in the fourth quarter. "Regarding FY guidance, although the company already adjusted its forecasts alongside Q2 results, we expect a further softening in light of recent developments." The bank maintains its hold rating on the stock with a 21 Swedish kronor target price. Shares fall 1.3% to 16.66 kronor. (dominic.chopping@wsj.com)

0807 GMT - L'Oreal's third-quarter results in Europe will likely be more resilient than initially feared, Jefferies analyst David Hayes says. Still, its North America business remains the standout due to its momentum in mass, professional and fragrance areas, Hayes says. Further, stronger trends for higher-end consumer staples point to a stabilizing market in China, he says. Shares are up 1% at 387.65 euros. (aimee.look@wsj.com)

0759 GMT - The Hungarian forint should benefit if Hungary's central bank pauses interest rate cuts and lowers its inflation target in a decision at 1200 GMT, ING's Frantisek Taborsky says in a note. The central bank is expected to keep its policy rate at 5.50% and could reduce its inflation target to 2.0% from 3.0%, he says. This would signal tighter policy for longer and enhance the forint's appeal in carry trades where investors borrow in low yielding currencies to invest in higher yielding currencies, he says. "Still, the domestic story is having limited market impact, and a sustained rally in FX and fixed income is unlikely without some progress in the geopolitical situation." The euro rises 0.6% to 362.11 forints. (renae.dyer@wsj.com)

0756 GMT - Prudential PLC's robust Hong Kong momentum is set to continue, says DBS Group Research's Ken Shih in a note. This momentum is supported by increasing contribution from mainland Chinese employees in Hong Kong, the analyst says. The insurer also indicated that business activities in the mainland Chinese visitors segment remained steady from 1H, despite news regarding taxation on offshore insurance returns, the analyst notes. Meanwhile, the Chinese bancassurance segment is likely to see near-term adjustments on tighter expense rules, but its upbeat outlook remains, given a bancassurance partner's expansion into the high-net-worth wealth segment. DBS maintains its buy rating and 138.00 Hong Kong dollar target price on Prudential's Hong Kong-listed shares, which fall 1.0% to HK$101.60.