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

0714 GMT - South Korea's benchmark Kospi fell 3.9% to close at 3119.41, posting its biggest daily decline since April. 7. The selloff was led by heavy institutional and foreign selling. Investor sentiment was weighed by the new left-leaning Seoul government's tax-increase plan, which includes raising the stock transaction tax to 0.2% from 0.15%, according to NH Investment & Securities market analyst Kim Jong-youn. Chip and defense stocks led the retreat. Index heavyweight Samsung Electronics fell 3.5%. Memory-chip maker SK Hynix dropped 5.7%, snapping a three-session winning streak. Ammunition manufacturer Poongsan slumped 16%. Self-propelled howitzer and aircraft engine maker Hanwha Aerospace slid 5.7%.(kwanwoo.jun@wsj.com)

0707 GMT - London Stock Exchange Group's progress has been overlooked, JP Morgan Cazenove analysts write in a note. The negative market reaction to the company's recent performance was overdone, they add. The analysts recognize concerns over competition and hurdles in Data & Analytics unit. However, they believe LSEG's solid constant-currency growth and improved operating leverage--including the lifted Ebitda margin guidance--have been overlooked. LSEG continues to be a unique asset in the European financial sector, with diversified revenue stream across industries that are benefiting from long-term growth trends, they say. The company's strong cash generation further enhance its appeal, they add. Shares are up 0.8% at 9,330 pence. (najat.kantouar@wsj.com)

0703 GMT - IAG surpassed 2Q expectations with a 17% beat on operating profit, Bernstein analysts Alex Irving and Antoine Madre say on a note. Year-on-year passenger revenue per available seat-kilometer----a key revenue metric measuring the ratio between an airline's revenue and its passenger carrying capacity--grew 2.6% to 8.55 euros, they note. Still, the airline group's revenue seem close to last year's, which appears to imply some PRASK decline into 2H, albeit against tough comparisons, the analysts say. The company is likely to see changes to consensus earnings on these results, Bernstein says. Shares are up 2.5% at 390.10 pence. (anthony.orunagoriainoff@dowjones.com)

0700 GMT - NIO's shares rose sharply in Hong Kong on Friday, thanks to positive initial feedback surrounding its new model, the Onvo L90, released late Thursday, Nomura's analyst Joel Ying said. Some analysts are comparing Onvo L90 with Li Auto's SUV model i8. Nomura thinks the Onvo L90 looks more attractive in terms of hardware configuration, but still needs to evaluate the market's trends. Morningstar's Vincent Sun thinks L90 is more attractive in terms of pricing, considering its large size and battery leasing option. Also, initial demand for Li Auto's i8 may not be spectacular when it launches at year end as it is priced about CNY300,000, Sun added. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

0655 GMT - Asean market watchers will keep a close eye on sector-specific tariffs, RHB Bank group chief economist and head of market research Barnabas Gan says in a report. These tariffs pose downside risks for regional countries, especially those with export-heavy industries, Gan writes. "Malaysia and Singapore appear most exposed to potential semiconductor-related tariffs, while pharmaceutical-related measures would likely weigh heavily on Singapore and Thailand." Thailand's automotive sector and Indonesia's electric-vehicle battery segment could also be hurt by any new levies targeting the broader auto value chain, he says. (amanda.lee@wsj.com)

0654 GMT - Pirelli's cut to its full-year revenue guidance aligns the company's expectations with consensus estimates, Bernstein analysts say in a research note. The Italian tire maker now expects to generate revenue of 6.7 billion to 6.8 billion euros for the year, down from its previous range of 6.8 billion to 7 billion euros, citing foreign-exchange headwinds. Volume growth should accelerate in the second half and the effects of pricing and sales mix continue to help top-line growth, likely aided by some U.S. price increases, Bernstein says. "The impact of U.S. tariffs is as expected, and [the full-year] impact may even be slightly lower than embedded in the guide after the EU 15% tariff deal," the analysts say. (adria.calatayud@wsj.com)

0638 GMT - Hennes & Mauritz mostly operates in the highly competitive value fashion arena, a segment squeezed between ultra-low-price operators like Shein and mid-market retailers like Zara, Berenberg's Anne Critchlow and Adam Tomlinson write. The bank estimates H&M's global apparel market share is at 1.2%, slightly below the 1.3% it was at 10 years ago. H&M's business model sees it operate with long lead times, sourcing ahead of season in large volumes to achieve scale benefits. Berenberg says this model raises the risk of unsold inventory and discounting, which can increase gross margin volatility. Long-term ambitions of sales growth and EBIT margin, both above 10%, look unattainable, it adds. Berenberg starts H&M at sell with a 112 Swedish kronor price target. Shares closed at 132.35 kronor. (dominic.chopping@wsj.com)

0618 GMT - Inditex faces slower constant-currency sales growth this year compared with the past four years, as well as negative foreign exchange translation, but the Spanish fashion retailer is still likely to outpace the market, Berenberg's Anne Critchlow and Adam Tomlinson say. Among the potential drivers for Inditex are expansion in product range and making larger sizes more available, the analysts say. They note that GLP-1 drugs could lift demand for clothing in general, and fashion in particular, in the medium to longer term. Berenberg initiates Inditex coverage at buy. (sarah.sloat@wsj.com)

0613 GMT - Kaynes Technology India's growth visibility remains high, Nomura analysts say in a research report. They note that the company maintained its revenue target of more than 45 billion rupees, with upside risk to margin guidance of 15.5% for FY 2026. The management expects its smart meter business to post revenue of 10 billion rupees to 12 billion rupees in FY 2026, with good traction from two-wheeler EVs. The integrated electronics manufacturing company also anticipates getting around 8% revenue from its aerospace business with new customers. Nomura raises the stock's target price to INR7,878.00 from INR7,183.00, with an unchanged buy rating. Shares are 2.7% higher at INR6,340.00. (ronnie.harui@wsj.com)

0604 GMT - Nordic markets are seen opening slightly lower with IG calling the OMXS30 down 0.6% at around 2565. President Trump has launched new general tariffs while also extending the deadline by one week to Aug. 7, SEB senior economist Johan Javeus writes. Switzerland was one of the biggest losers with a tariff of as much as 39%. Canada faces as much as a 35% tariff from today for goods that aren't covered by the USMCA trade agreement, Javeus says. However, the tariff pause with Mexico has been extended by 90 days. There have been small movements on Asian stock markets, while futures are pointing slightly down in Europe and the U.S. Labor market statistics from the U.S. are due today. OMXS30 closed at 2580.05, OMXN40 at 2213.25, and OBX at 1540.85. (dominic.chopping@wsj.com)

0555 GMT - Daimler Truck Holding cut its full-year expectations due to uncertainty clouding its North America business, and added a caveat to its outlook that suggests it remains at risk of further downgrades, Bernstein analysts say in a research note. The German truck and bus maker said its new guidance assumes the U.S.-Mexico-Canada trade agreement continues. However, a probe started by the U.S. government might change this, which would hurt Daimler, Bernstein say. The company lowered its adjusted operating profit expectations by 18% at the mid-point of its guidance range, and the mid-point of its new outlook sits 7% below consensus estimates, Bernstein says. (adria.calatayud@wsj.com)

0555 GMT - Taiwan shares ended lower after the U.S. imposed a 20% tariff on Taiwanese goods. The rate has been met with disappointment as markets had expected a 15% tariff for Taiwan, similar to peers Japan and South Korea, says DBS economist Ma Tieying in a note. Investors are tracking updates on the tariff rate as Taiwan has said that negotiations haven't concluded and the rate could be lowered further. Among individual stocks, TSMC declined 1.7% and MediaTek ended 1.5% lower. Foxconn Technology Group gained 2.0%. The company announced a strategic partnership with Teco Electric & Machinery to explore AI data center business opportunities earlier this week. Taiwan's benchmark Taiex closed 0.5% lower at 23434.38. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

August 01, 2025 03:14 ET (07:14 GMT)

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