The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. DSM-Firmenich's underlying Ebitda guidance for 2025 is for at least 2.4 billion euros. "DSM-Firmenich's Share Buyback Was a Welcome Surprise -- Market Talk," at 0822 GMT, misstated the guidance figure.

0822 GMT - DSM-Firmenich's 1 billion-euro buyback was a nice surprise, Barclays analysts write in a research note. In additiong, the nutrition, health and bioscience company's fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization beat analysts expectations by 1.8%, they add. The only niggle was the miss to organic sales growth expectations in its taste, texture and health division, the analysts write. Fears around the 2% miss may be reduced if the company explains on its analyst call that momentum within the division remains strong, they write. DSM's underlying Ebitda guidance for 2025 of at least 2.4 billion euros shows constructive underlying performance, the analysts add. Shares rise 4% to 105.10 euros. (adam.whittaker@wsj.com) Corrections & Amplifications

This market talk item was corrected at 0900 GMT to reflect DSM-Firmenich's underlying Ebitda guidance for 2025 is for at least 2.4 billion euros. The original version misstated the guidance figure as 2.45 billion euros.

0148 GMT - IRPC could incur more impairments on its investment in Ube Chemicals (Asia) following a THB500 million impairment in 4Q, UOB Kay Hian's Arsit Pamaranont says in a research report. In a recent conference call, management disclosed the possibility of further impairment on its investment, the analyst notes. The Thailand-listed integrated petrochemical company also plans to shut down certain unprofitable units this year, which could heighten market worries over additional impairments. The brokerage trims the stock's target price to THB1.25 from THB1.50. However, the bad news is already priced in, the brokerage says as it maintains a buy rating. Shares last quoted at THB1.03. (ronnie.harui@wsj.com)

2317 GMT - South32's 1H result should be neutral for shares as solid earnings--in line with consensus estimates--and a modest dividend beat are balanced by ongoing cost pressures, says Citi analyst Paul McTaggart. "Meeting earnings expectations a positive offset by raised 2H FY25 unit cost guidance," he says in a note. Citi has a neutral rating and A$3.90 target on the stock. South32 ended Wednesday at A$3.43/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2124 GMT - Canadian timber company West Fraser already has a few things -- namely, high mortgage rates that are making housing less affordable -- that are weighing on demand for its products such as lumber. Add the threat of tariffs as another layer of uncertainty. CEO Sean McLaren says in conjunction with 4Q earnings that the potential for the Trump administration to impose broad-based tariffs on Canadian exports "adds another element of demand uncertainty for the produce we ship to the U.S. from Canada." West Fraser is rolling with it, however, and says it can be proactive by focusing on improving the costs across its mills and invest to modernize operations "where it makes sense." (paul.ziobro@wsj.com)

1558 GMT - Canada Prime Minister Justin Trudeau says he had a short encounter with Vice President JD Vance about the negative fallout from a 25% tariff on steel and aluminum from Ohio. Trudeau tells reporters he told Vance -- for an AI conference in Paris that the two lawmakers attended -- that about C$2.2 billion of Canadian-made steel and aluminum are used by manufacturers in Vance's home state. "He nodded and noted it," Trudeau says, noting it was a short exchange. Earlier in the day, Quebec Premier Francois Legault mused that perhaps Canada should slap an export tax on U.S.-bound aluminum should the Trump administration imposes a hefty tariff on the metal. Canadian officials play down talk of export taxes, saying they want to press U.S. officials for a carve out. (paul.vieira@wsj.com, @paulvieira)

1458 GMT - Quebec Premier Francois Legault suggests that Canada might want to slap an export tax on aluminum should President Trump follow through on imposing a 25% tariff on all imported steel and aluminum. Canada is by far the biggest seller of foreign aluminum to the U.S., and the bulk of Canadian aluminum is in the province of Quebec. The U.S. "really needs us" on aluminum, says Legault, who is in Washington with other Canadian premiers to persuade lawmakers and officials about the potential fallout on tariffs on Canadian imports. An export tax on products like aluminum might get Trump's attention, he says. "We have to be careful," Legault adds, "[because] we want to have a deal with no tariffs." (paul.vieira@wsj.com; @paulvieira)

1332 GMT - Gold futures drop after the 12-month CPI accelerates to 3% from 2.9%, with the core moving to 3.3% from 3.2%. Gold was under pressure after Fed Chair Powell told Congress Tuesday that the Fed was in no hurry to cut rates and saw the U.S. economy "broadly in balance." Gold fell more than 1% following the January CPI, but has since pared losses, with the most-active contract now down only 0.5%. (kirk.maltais@wsj.com)

1009 GMT - Palm oil prices rose, driven by tightened supply and a softer Malaysian ringgit, Darren Lim, commodities strategist at Phillip Nova writes in a note. The 17% drop in production in January, according to the Malaysian Palm Oil Board, reflects tightening supply, driving the price rally along with expectations of heightened demand ahead of the Ramadan festive season, Lim says. A weaker ringgit has also made palm oil more attractive to foreign buyers, Lim adds. The Bursa Malaysia Derivatives contract for April delivery rose MYR31 to MYR4,624/ton. (kimberley.kao@wsj.com)

0944 GMT - Voestalpine cut its outlook partially due to one-off charges, Morgan Stanley analysts say in a research note. The Austrian steelmaker cut fiscal 2025 Ebitda guidance to 1.3 billion euros from 1.4 billion euros, coming just under company-compiled consensus of 1.36 billion, the analyst note. The revised outlook includes 200 million euros of one-off items relating to the sale of Buderus, as well as charges due to the reorganization of the automotive components unit, they say. The company's third-quarter reported Ebitda came to 250 million euros, missing Morgan Stanley's expectations of 269 million euros. However, net income beat estimates due to positive income tax from prior tax credits. Shares trade down 1.1% at 20.28 euros. (pierre.bertrand@wsj.com)

(END) Dow Jones Newswires

February 13, 2025 04:20 ET (09:20 GMT)

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