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

0755 GMT - CapitaLand Ascendas REIT's latest proposed acquisitions appear positive, RHB Research's Vijay Natarajan says in a report. The acquisitions would increase its exposure to the high-quality and in-demand data center segment in Singapore, the analyst says. The REIT recently proposed acquiring a tier-3 co-location data center and a premium business park space, the analyst adds. There is good upside potential for the data center, with in-place rental at around 30% below the market rate, and strong possibility for further rent growth from a tight market vacancy rate of roughly 2% and a limited supply pipeline. RHB maintains a buy rating and a target price of S$3.20. Units are 1.5% lower at S$2.61. (ronnie.harui@wsj.com)

0750 GMT - Shares in European steel companies like ArcelorMittal and Thyssenkrupp fell in early European trading as President Trump threatened to double import taxes on steel and aluminum. On Friday, said that tariffs on imported steel and aluminum would increase to 50% from 25% from June 4. Thyssenkrupp shares traded 2.6% lower, while shares of ArcelorMittal trade 2.2% lower. Meanwhile, shares of SSAB and Acerinox, both of which have operations in the U.S., traded 3.6% and 5.5% higher respectively. (pierre.bertrand@wsj.com)

0747 GMT - Emerging-market equities offer diversification away from the U.S. economy, Olivier d'Incan, global equity fund manager at Credit Mutuel Asset Management says in a note. "Emerging markets (EM) typically grow faster than developed economies, driven by a rising middle class and expanding economic infrastructure," he says. While some emerging market stocks are likely to experience volatility due to ongoing trade tensions, some high-quality stocks appear attractive in the long term, d'Incan says. (miriam.mukuru@wsj.com)

0741 GMT - Eagle Eye losing a large U.S. contract is disappointing and will hit its earnings, but it is an isolated issue, Shore Capital analysts write. While current-year business remains unaffected, the loss will hit earnings in fiscal 2026 and 2027, they write. The analysts downgrade their fiscal 2026 revenue expectations by 18% to 43.1 million pounds and then by 20% to 51.6 million pounds in fiscal 2027. They lower their adjusted Ebitda margin expectations for fiscal 2026 to 12% from 25% previously, they write. In fiscal 2027, cost-saving measures should mitigate the impact but they still lower their adjusted Ebitda margin to 20% from 27% previously. Shares trade down 36% at 225 pence a share.(adam.whittaker@wsj.com)

0738 GMT - Robust U.K. house prices into the summer months will be welcome news for housebuilders after the initial weakness due to the end of the stamp duty holiday, RBC Capital Markets analyst Oliver Dyson says in a note. According to Nationwide's housing price index, house prices rose 0.5% on month in May, recovering ground lost in April after the end of the buyer's tax. This suggests the effect of the end of the tax holiday was minimal, and that a combination of rising wages and falling mortgage rates continues to underpin prices, Dyson says. Although summer is typically a quieter period in the housing market, rising prices mean "the fear of missing out is likely to bolster housing market activity," he says. (anthony.orunagoriainoff@dowjones.com)

0729 GMT - European car stocks fall in early trade after President Trump said he was doubling the tariff on imported steel and aluminum and new data showed French car registrations dropped sharply in May. Jeep maker Stellantis is the biggest decliner among European carmakers, down 3.9%. Mercedes-Benz and Renault shed more than 3%, while Volkswagen, BMW, Porsche and Volvo Car all fall more than 1%. The declines track losses among car stocks in Asia, where Toyota, Honda, Nissan, Kia and Hyundai all closed lower. Trump said tariffs on imported steel, as well as aluminum, would increase to 50% from the current 25%, effective Wednesday. Meanwhile, French auto industry group PFA said new-car registrations--which reflect sales--in May fell 12% compared with a year earlier to 123,919.(adria.calatayud@wsj.com)

0725 GMT - The U.K. government's full exit from NatWest is a symbolic move rather than a turning point, Interactive Investor says in a market comment. "The technical overhang of the stake had been a heavy weight on the share price and the group can at last move on," analyst Richard Hunter writes. The state's more than 10-billion-pound loss is something of a red herring since the action it took during the financial crisis was a simple bailout rather than an investment. Whether the bank uses its new-found freedom to pursue a more aggressive acquisition policy, to invest in organic growth or to boost shareholder returns remains to be seen, he adds. Shares edge up 0.3% to 526 pence. (elena.vardon@wsj.com)

0721 GMT - Orsted is likely to book another 1.2 billion Danish kroner ($182.6 million) impairment charge in 2Q after President Trump announced the doubling of tariffs on steel and aluminum imports to 50% from 25%, Citi analysts say in a note. The company took a similar hit as part of its 1Q earnings linked to the U.S. government's 25% tariff on imports of steel and aluminium--and certain products containing them--citing increased costs and contingencies stemming from its wind projects. "We continue to wait for clarity around the outcome of US-EU tariff negotiation, which Orsted said a 20% tariff could add around 600 million Danish kroner, which has yet to be recognized in its accounts," Citi says. In April President Trump threatened a 20% reciprocal tariff on EU imports unless a deal was reached after a 90-day negotiation period. (anthony.orunagoriainoff@dowjones.com)

0708 GMT - KNR Constructions remains a hold call on tailwinds and headwinds, Axis Securities analysts say in a research report. Among tailwinds, the Indian company plans to diversify into other infrastructure segments by bidding for metro projects to further strengthen its long-term growth prospects, the analysts note. Among headwinds, worries continue regarding delays in the infrastructure developer's execution of irrigation projects and the lack of new order inflows so far, the analysts add. The brokerage lowers the stock's target price to INR195.00 from INR255.00 to partly reflect a valuation roll forward. Shares are 1.35% lower at INR208.05. (ronnie.harui@wsj.com)

0701 GMT - The dollar falls as trade concerns heat up after U.S. President Trump on Friday announced plans to double tariffs on steel and aluminum up to 50%, starting Wednesday. Trade tensions between the U.S. and China also returned after Trump accused China of breaking a recent trade truce. "In the long term, it will become increasingly clear that the U.S. administration has no intention of abandoning tariffs," Commerzbank analyst Michael Pfister says in a note. The DXY dollar index falls 0.4% to a 6-day low of 98.926. The euro rises 0.5% to $1.1403. (jessica.fleetham@wsj.com)

0642 GMT - Apollo Hospitals Enterprise's growth visibility across segments looks strong, HDFC Securities analysts say in a research report. There's improving occupancy, average revenue per occupied bed growth, and capacity expansion in the Indian healthcare services provider's Hospitals segment, the analysts say. Also, there's steady offline growth and 'Apollo 24/7' online platform scale-up in the Healthco segment and consistent growth and margin improvement in the Apollo Health & Lifestyle segment, the analysts add. The brokerage raises the stock's target price to INR8,300.00 from INR7,520.00 to reflect tweaked FY 2026 and FY 2027 Ebitda estimates for the company, while maintaining its buy rating. Shares are 1.7% higher at INR6,994.60. (ronnie.harui@wsj.com)

0612 GMT - Cummins India's FY 2026 earnings outlook appears positive, Nomura's Umesh Raut says in a research report. Management remains confident in achieving double-digit revenue growth in FY 2026, attributing this projection mainly to stable domestic demand prospects, the analyst notes. Also, management anticipates widespread growth within the power generation segment, driven by expansion in data centers, manufacturing, and infrastructure, the analyst says. Moreover, the power solution provider's industrial segment is expected to grow consistently, partly underpinned by sustained momentum in the construction sector, the analyst adds. Nomura raises the stock's rating to buy from neutral and the target price to INR3,800.00 from INR3,740.00. Shares are 0.6% higher at INR3,287.75. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

June 02, 2025 03:56 ET (07:56 GMT)

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