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

0819 GMT - BP's quarterly earnings are relatively resilient amid the weak pricing environment, Hargreaves Lansdown's Derren Nathan writes. While net debt is down after a spike in the third quarter, it hasn't budged much year-on-year, he adds. Management is taking clear action to strengthen its balance sheet by scrapping the buyback and increasing structural cost-saving targets, he adds. BP's "leaner meaner approach could pave the way for more sustainable payouts to shareholders" but investors will want some assurance on its spending plans, Nathan says. Shares fall 3.2% to 426.60 pence.(adam.whittaker@wsj.com)

0818 GMT - European airlines fall on Tuesday opening trade after German travel operator TUI posted first-quarter results, including softer winter and summer booked revenue. TUI drops 2.1%, while Ryanair declines 1.7%, Jet2 loses 1.4% and International Consolidated Airlines Group $(IAG)$ falls 1.2%. Easyjet and Air France-KLM are down 0.9% and 0.6% respectively. Wizz Air's shares remain more resilient, losing 0.1%. (cristina.gallardo@wsj.com)

0811 GMT - BP is ripping off the Band-Aid with the suspension of its share buyback, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani write. It is the right time to pause the buyback given the company's relatively weak balance sheet and emphasis on deleveraging, they write. The British energy major has opted to retain its net debt target of $14 billion to $18 billion by end 2027 despite a reduction in spending and the buyback savings. This is likely to be a focus of management's earnings call later Tuesday, they write. Shares fall 2.4% to 466.85 pence (adam.whittaker@wsj.com)

0804 GMT - Philips shares could rise by a high single-digit percentage after the company's 2025 results beat guidance while the 2026 and 2028 forecasts both surprised to the upside, Jefferies analysts write. The Dutch health-technology company delivered further sequential improvement in the fourth quarter with 6.4% organic sales growth versus consensus at 4.9%, and a 15.1% margin versus consensus at 13.5%. With unchanged demand dynamics, order intake is in positive territory for the fifth consecutive quarter, the bank adds. The stronger guidance for the years ahead is thanks to strong margin forecasts that are backed by further operational improvement and better execution. (dominic.chopping@wsj.com)

0800 GMT - Pop Mart International's product mix and geographical mix likely drove average selling price growth in 2025, say Macquarie Capital's Terence Chang and Linda Huang in a note. The Labubu doll maker said it sold over 400 million units across all intellectual properties and product categories last year. While it didn't give a breakdown of how these units were sold, the analysts expect higher contribution from plush toys, which are usually more expensive than figurines, and from overseas markets, which price their products higher than in China. Macquarie Capital reiterates its outperform rating, as it reckons Pop Mart has potential to expand further overseas with more balanced contribution from its IPs. Macquarie maintains its target price at HK$470.00. Shares are up 5.0% at HK$270.00. (megan.cheah@wsj.com)

0754 GMT - Rising gold prices could boost Zijin Gold International's earnings, DBS analyst Eun Young Lee says in a note. DBS forecasts gold prices to rise 42% in 2025 and 9% in 2026, and thinks Zijin Gold International could attract investors as a pure-gold player, the analyst notes. "With the record high gold prices, stronger sales volume growth brightens its earnings growth outlook," the analyst says. Zijin Gold's acquisition of Allied Gold could further bolster its earnings growth, as the transaction boosts its reserves by 5.8% and resources by 20.9%, she adds. DBS raises its 2026 and 2027 earnings forecasts for Zijin Gold by 120% and 121%, respectively. Zijin Gold's shares are 0.7% lower at HK$209.00. (sherry.qin@wsj.com)

0750 GMT - Philips shares should react positively after the connected-care and personal-health units drove a fourth-quarter beat and midterm guidance implies upside to consensus, RBC Capital Markets analyst Natalia Webster writes. Fourth-quarter results are strong overall, resulting in full-year sales 1% above consensus, adjusted Ebita 5% above and adjusted EPS 7% above, RBC says. Importantly, the midpoint of the new 2026 guidance range for year-on-year sales growth and margin improvement implies around 5% upside to adjusted Ebita consensus, the bank says. Meanwhile, the company has provided midterm targets for mid-single-digit sales growth and margin improvement to midteens, also ahead of consensus for 2028, which is looking for 4% and 13.6% growth, respectively. (dominic.chopping@wsj.com)

0748 GMT - TUI posted a sound set of first-quarter results and backed its fiscal 2026 outlook, J.P. Morgan analysts say in a research note. The German travel operator's EBIT surpassed expectations by 10%, they note. Cruises contributed strongly to these results, while its Hotels and Resorts segment was impacted by hurricanes in Jamaica, they add. Shares went up 17% over the last two months but could experience some pressure on Tuesday as investors process TUI's softer winter and summer booked revenue, J.P. Morgan says. Shares closed at 9.35 euros. (cristina.gallardo@wsj.com)

0745 GMT - AstraZeneca's 2026 revenue guidance is better than expected and should be well-received by investors, JPMorgan analysts write in a research note. The announcement that the experimental oral weight-loss treatment Elecoglipron will move to a late-stage trial is more good news, the analysts say. Both developments helped offset the British drugmaker posting a fourth-quarter operating profit miss. The analysts expect another strong year for the company due to earnings momentum and "another year with a rich runway of pipeline readouts." (william.gray@wsj.com)

0744 GMT - Barclays's profitability target for 2028 is ahead of consensus expectations and should lead to an upgrade in conservative earnings per share assumptions, J.P.Morgan Cazenove says in a research note. The British bank targets a return on tangible equity, or ROTE, of more than 14%, which is ahead of the 13.5% return penciled in by consensus. Guidance for revenue growth of more than 5% a year implies 34 billion pounds in 2028--ahead of consensus' 33 billion pounds, analysts write. "We believe that the group's plan is achievable in the current economic environment with the potential for Barclays to become a 15% ROTE bank over time," they add. (elena.vardon@wsj.com)

0726 GMT - The departure of Standard Chartered's CFO came as a surprise to Morningstar's Kathy Chan, who thinks the abrupt transition will likely trigger investors concerns. The bank's Hong Kong-listed stock fell over 6% after StanChart said it had named Peter Burrill as interim finance chief. Chan views Burrill as a decent candidate for the interim role, given his experience at Deutsche Bank and KPMG. Burrill has also been with StanChart since 2017, indicating familiarity with the group's operations and the management team, the analyst adds. With near-term focus set on completing a restructuring program, Chan expects Burrill to continue to deliver on the targets, with limited operational impact. "This should allow some breathing room for the bank to search for a suitable candidate for the permanent role." Shares down 2.3% at HK$197.40. (kimberley.kao@wsj.com)

0726 GMT - Leisure travel demand in China could be solid during the coming Lunar New Year holiday, Citi analysts say in a research note. This year's extended nine-day holiday could bode well for duty-free sales in Hainan, especially for China Tourism Group Duty Free, they say. Among hotels, Citi sees an uptick in revenue per available room for Atour and H World, they say, adding that occupancy rates in some lower-tier cities exceed their expectations with very few rooms unsold. Atour is one of Citi's top buys in China's consumer sector. For outbound tourists, they might shift their attention to Asian destinations like Vietnam and South Korea from Japan, they add. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

February 10, 2026 03:19 ET (08:19 GMT)

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