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

1125 GMT - Julius Baer Gruppe's valuation remains undemanding compared to the wider sector after the end of a probe by Switzerland's financial regulator, Citi's Nicholas Herman writes. The regulator, Finma, ended its enforcement proceedings on Tuesday, and the Swiss bank requested approval to restart share buybacks. "In our view, these are important catalysts, not only because they should allow the bank to deploy its significant surplus capital, but also because they provide a tangible signal that regulatory relations are improving," Citi says. Citi reiterates its buy stock recommendation and says the business should be more attractive to investors. Shares are down 1.2%. (michael.hennessey@wsj.com)

1121 GMT - Markets price in over 80% chance of the Bank of England increasing interest rates in November as U.K. GDP data shows resilient growth. The latest quarterly GDP data shows U.K. economy expanded by 0.5% in the second quarter, better than the 0.4% consensus forecast by economists in a WSJ survey. This raises the possibility of the BOE increasing interest rates in the coming months, to tackle inflation. Investors fully price in a total of four BOE rate increases by July 2027, LSEG data show. (miriam.mukuru@wsj.com)

1045 GMT - Higher eurozone interest rates could be beneficial for European banks, UBS Investment Bank analysts say in a note. The European Central Bank is projected to raise interest rates further over the coming months due to inflation concerns given high oil prices and supply chain disruptions, they say. Markets fully price in three more ECB rate rises by mid-2027, in addition to the two rate hikes delivered this year, LSEG data show. "We do expect slightly higher euro rates and for bank hedges to benefit from better-than-budgeted swap rates." (miriam.mukuru@wsj.com)

1038 GMT - Paris-listed banks underperformed the broader European financials sector after inflation in France rose by more than expected in September. French inflation rose to 3% on year in September, up from 2.4% in August. Meanwhile, household consumption data showed French consumer spending on goods fell by 0.5% in volume terms in August, ING's senior economist Charlotte de Montpellier notes. Given investor concern around the 2027 French legislative elections, "France's risk premium is likely to remain elevated in the coming months," De Montpellier writes. BNP Paribas falls 2%, while Societe Generale and Credit Agricole drop 2.3% and 1%, respectively. A basket of European banks falls 0.2%.(josephmichael.stonor@wsj.com)

1015 GMT - Flows into cryptocurrencies are slowing to a trickle after a surge of investor interest last week saw the best weekly ETF inflows since October 2025, Saxo Bank analysts write. Demand is highly concentrated in BlackRock's bitcoin ETF, and a sudden jump or drop in one-day flows may be the activity of just one large investor, they say. Spot bitcoin saw outflows of $75.16 million over the last 24 hours, according to crypto data platform CoinGlass. Bitcoin prices today will find resistance at $84,900, with PCE inflation data in focus, the analysts add. (josephmichael.stonor@wsj.com)

0952 GMT - Young & Co.'s Brewery's rise in first-half sales for fiscal 2027 prompts an upgrade to pretax profit forecasts, Peel Hunt analysts Douglas Jack and Ivor Jones say. Like-for-like sales rose 6.4%, significantly outpacing the broader pub sector average of 3.4% from April to August, with performance reflecting the investment in sites, services and products, the analysts say. Peel Hunt raises expectations for fiscal 2027 by 3.4% to 51.5 million pounds as sales should be supported by around 70 million pounds of net capex including acquisitions. "We will consider further forecast upgrades later in 2H provided the political-economic backdrop is clearer," the analysts say. Shares are up 8.6% at 925 pence, and are up 25% in the year-to-date. (anthony.orunagoriainoff@dowjones.com)

0944 GMT - Shanghai Biren Technology raises its 2027 revenue target to 20 billion yuan, as the average selling price of its soon-to-be-released chip has doubled, DBS analysts say in a note after a meeting with management. Biren completed the design process of its second-generation chip, the BR20X, in August and expects customer adoption test results within the next three to four months, they say. The average selling price was reset to 300,000 yuan from 150,000 yuan while it still expects to ship 70,000 chips next year, the analysts say. Management thinks that as Nvidia H200's street prices in China have risen to 300,000 yuan-400,000 yuan, BR20X's new price tag is justified as it can deliver 80%-120% of H200's performance. Shares last ended at 37.38 Hong Kong dollars. (sherry.qin@wsj.com)

0938 GMT - Assicurazioni Generali's unusually strong share price performance means the stock is now fully valued, Jefferies' Philip Kett and Derald Goh write. The Italian insurer's earnings expectations and valuation multiple have been transformed since the start of 2024, Jefferies says. There are also some minor headwinds which could weigh on the stock in the near future, the analysts add, including a worsening retail pricing outlook in non-life insurance. However, Jefferies retains its positive view of the strategy. The re-rating leads Jefferies to cut its stock recommendation to hold from buy, but increase the target price to 38 euros from 28.50 euros. Shares are down 0.4% at 43.33 euros but have risen 21% year to date. (michael.hennessey@wsj.com)

0916 GMT - The Kuala Lumpur Composite Index is set to have a wider buffer around its expanded 50-stock gauge, CIMB Securities' Ivy Ng Lee Fang says in a note. With inclusion and deletion thresholds revised to 40th and 61st, respectively, from 25th and 36th, the risk of frequent index turnover is reduced, the analyst writes. The changes will take effect with the December review as the KLCI expands to 50 constituents from 30. Based on Sept. 28 market-cap data, Ng says Unisem and Kelington could enter the index, replacing Genting Malaysia and Malayan Cement. Westports, United Plantations, Vitrox and Sime Darby are among others that could be included, she adds. The final list will be based on market-cap data as at Nov. 23. (yingxian.wong@wsj.com)

0914 GMT - Commerzbank's share price upside is limited by uncertainty around the German bank's future strategy, Deutsche Bank's Benjamin Goy writes. Recent outperformance by the company means many of its key catalysts have either played out or are now better understood, Goy says. These include rising net interest income, large capital returns and improving sentiment on Germany. The stock is trading at a modest premium to the sector, Deutsche Bank says, even following an additional earnings-per-share upgrade. Deutsche Bank downgrades the stock to a hold recommendation with an unchanged target price of 42 euros. There are better stocks than Commerzbank to benefit from higher interest rates, the analyst adds. Shares are down 2.3% at 41.01 euros. (michael.hennessey@wsj.com)

0908 GMT - Investors are dialing up their bets on the life-sciences industry as AI-related demand emerges as a growth driver for lab-tools makers and other companies in the drug supply chain, RBC Capital Markets analysts say. Recent comments from company executives suggest the AI demand is moving from theoretical to evidenced, according to RBC. Traditional pharma companies and AI-native drug discovery startups are investing at a scale that will require a jump in biological data generation, the analysts say. "The demand signal differs by position in the value chain: research and labs now, with instruments first and consumables a few quarters after, preclinical [contract research organizations] picking up volume as new assets progress faster through the research phase, and then [contract drug manufacturing organizations] and bioprocessing companies last," they add. (adria.calatayud@wsj.com)

0900 GMT - A suite of new product launches by Robinhood represents a significant strategic acceleration for the company, Deutsche Bank's Brian Bedell writes. At a company summit in Houston, the brokerage said it will use AI to help build users' investment strategies and eventually to place trades on behalf of users. The launches will "provide institutional-grade tools to Robinhood's retail user base," Bedell writes. The changes aim to equip traders for the turn to 24/7 trading, the analyst says. Robinhood shares rise 2.35% premarket.