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

1057 GMT - Endeavour Mining had a strong end to 2025, Berenberg analysts write. The miner also issued its 2026 guidance and updated its shareholder returns policy. The guidance is broadly in line with, or better than, the analysts' had expected. If gold remains above $5,000 a troy once, Endeavour shares can continue to outperform, they say. The company continues to deleverage at pace, they say. It ends the year with a net debt of $157 million, from $453 million at the end of the third-quarter, and should transition to net cash in 2026, they say. Shares rise 4.9% to 4,750 pence. (adam.whittaker@wsj.com)

1049 GMT - Deutsche Bank received authorization for 1 billion euros in share buybacks and aims to hand more capital to shareholders in the second half, suggesting returns could exceed market expectations, Jefferies analysts say. Analysts currently expect Deutsche Bank to carry out share buybacks of 1.535 billion euros in 2026, according to consensus estimates compiled by the bank. The German lender's fourth-quarter results were mixed at the divisional level, with asset management and the corporate segment leading a beat to expectations, Jefferies says. Guidance for 2026 is broadly in line with consensus, Jefferies says. Shares fall 1.9% to 32.25 euros. (adria.calatayud@wsj.com)

1043 GMT - Tesla Motors shares rise 3.1% premarket after the electric-vehicle maker beat earnings expectations thanks to stronger-than-expected margins. The company said it would invest $2 billion in xAI, the private artificial-intelligence firm founded by Chief Executive Elon Musk, and shift from constructing some of its vehicles to manufacturing robots instead. Free cash flow will turn negative as a result of the company's surprising capital expenditure outlay, analysts at Evercore write. The announcement precipitated a slight reduction in the stock's premarket gains, the analysts say. The sustainability of the company's high margins is also unclear, they say. (josephmichael.stonor@wsj.com)

1040 GMT - Deutsche Bank seems on course for its 2028 profitability target, creating momentum on key drivers of an improvement in its efficiency, J.P. Morgan analysts say in a research note. The German bank in November set a target for a return on tangible equity--a key profitability metric--topping 13% in 2028, which seems on track, according to JPM. Looking at the near term, the bank is signaling a strong start to the first quarter, JPM says. While early in the year, this bodes well for its 2026 revenue target of 33 billion euros, the analysts say. Moreover, a buyback program of 1 billion should help confirm confidence, JPM says. Shares fall 1.75%. (adria.calatayud@wsj.com)

1036 GMT - Rank Group delivered a robust performance in the first half of fiscal 2026, Goodbody analyst David Brohan writes in a note. While the second quarter showed some headline weakness due to lower consumer confidence surrounding the U.K. budget, trading over Christmas and January has improved, he notes. The U.K. gambling company's shares, down roughly 40% since last August, are likely to rebound if investors gain confidence in the medium-term target of at least 100 million pounds in operating profit and the appointment of a strong permanent CEO, he says. Shares are up 2.5% at 93.30 pence. (najat.kantouar@wsj.com)

1029 GMT - IBM shares surge 8% premarket after the tech company announced increased revenue and a growing AI business Wednesday. The company's software division drove revenue, with strong growth expectations reflecting momentum across IBM's product portfolio, analysts at J.P. Morgan say. Better-than-expected free cash flow and earnings growth are also signs for optimism, the analysts write, while job cuts helped protect margins. Less encouragingly, the analysts flag deceleration in the company's hybrid cloud division, while revenue from its infrastructure operations is expected to fall. IBM's consultancy division is also pressured by tough competition and threats to demand, they add. (josephmichael.stonor@wsj.com)

1028 GMT - Glencore's fourth-quarter production report was stronger than expected, Barclays analysts say. The Anglo-Swiss commodity mining and trading company's production of copper, cobalt, zinc, steelmaking coal and energy coal divisions were all ahead of the analysts' expectations. "Weaker cobalt production reflect proactive planning to prioritize copper production," they add. Glencore shares rise 3.5% to 523.50 pence. (adam.whittaker@wsj.com)

1015 GMT - Givaudan's full-year results should provide some relief from negative sentiment around the sector amid fears of consumer slowdown, Vontobel analyst Arben Hasanaj says in a research note. The Swiss manufacturer of flavors, fragrances and active cosmetic ingredients showed more volatile top-line trends at the end of 2025, but with diversification paying off and some improvement in the last quarter, the analyst says. "We remain constructive on 2026 given Givaudan's differentiated position and abating cost headwinds," Hasanaj says. The company's current valuation is overly negative in light of the company's potential for value creation, he adds. Shares trade 5.9% lower at 2,953 Swiss francs. (nina.kienle@wsj.com)

1015 GMT - European energy companies move higher as oil gains on concerns that the U.S. could carry out military action against Iran. Oil prices rise to their highest level since late September, with Brent crude up 2.7% to $69.21 a barrel, while WTI gains 2.2% to $63.68 a barrel. Iran pumps around 3.3 million barrels a day and exports roughly 1.5 million barrels a day. In London, BP rises 2% and Shell is up 1.8%. Harbour Energy jumps 5%. Italy's Eni is up 2.25%, Portugal's Galp Energia climbs 3%, while France's TotalEnergies gains 1.7%. (adam.whittaker@wsj.com)

1006 GMT - Shares in Microsoft slump in premarket trading on higher-than-expected data center spending and slowing earnings growth from its cloud business. Although income expectations beat market's hopes, investors are losing patience with Microsoft's struggles to translate artificial-intelligence investment into earnings growth, XTB research director Kathleen Brooks says. "Investors are disappointed that Microsoft's capital expenditure spend and early foray into AI with ChatGPT is not significantly boosting earnings growth," Brooks writes. Constrained data-center capacity will also weigh on investor sentiment, she adds. Microsoft futures fall 6.3%. (josephmichael.stonor@wsj.com)

1004 GMT - Antofagasta's 2026 outlook shows no surprises in its new unit cost and capital-expenditure guidance, UBS analysts write in a note. The London-listed, Chilean miner's copper guidance is unchanged as expected, with higher grades at Los Pelambres partly offset by softer output at Centinela, they say. Meanwhile, gold-production guidance is above consensus and molybdenum production for 2026 is broadly in line. Shares are up 6% at 39.31 pounds. (najat.kantouar@wsj.com)

1002 GMT - Chinese liquor stocks rose sharply Thursday following state media reports that authorities are easing enforcement of leverage rules on the real-estate sector. Bernstein analysts expect increased property investment to drive business banqueting and generate a positive wealth effect for individuals. Bernstein views Kweichow Moutai as the largest potential beneficiary in the baijiu segment, citing changes to its distribution strategy that position the company to capture a greater share of the value chain and better manage end-consumer pricing. It forecasts the strongest recovery in the "on-trade" channels for western spirits. The premium-beer segment may also get a boost on improved consumer confidence, most likely benefiting Budweiser APAC, China Resources Beer and Chongqing Brewery. (jason.chau@wsj.com)

(END) Dow Jones Newswires

January 29, 2026 05:57 ET (10:57 GMT)

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