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

0932 ET - Capstone Copper's full premium for the sale of its Cozamin mine might be difficult to achieve, according to TD Cowen in a note. Capstone is selling its mine in Mexico to Luca Mining for up to $385 million, made up of $275 million in cash, $15 million in Luca shares, $35 million of deferred consideration and up to $60 million linked to the price of copper. Analyst Craig Hutchison says "the premium is relatively modest and heavily reliant on contingent value that appears difficult to realize under our price assumptions." In particular, he points to the $60 million earn out which "requires annual average copper prices of at least $7.00/lb during 2027-2029, with maximum payments requiring copper prices above $8.50/lb," which compares to TD estimates that call for a peak of $5.60/lb in 2027.(adriano.marchese@wsj.com)

0930 ET - The euro could continue to trade between $1.13 and $1.20 during the rest of this year, marking the narrowest range on record, Deutsche Bank's George Saravelos says in a note. The dollar is supported by high energy prices and U.S. interest rate rise expectations. However, rate rise expectations could be priced lower as they are above the amount indicated by the Federal Reserve, he says. The U.S. has also become reliant on stock market inflows to finance its current account deficit, leaving the dollar exposed in the event of an AI-driven fall in equities. In Europe, capital inflows are robust, while growth has proved resilient. That said, the energy shock has weighed on Europe's terms of trade, he says. The euro trades steady at $1.1482. (renae.dyer@wsj.com)

0851 ET - Brunello Cucinelli's sales should remain on an upward trend, despite a wider difficult market environment for the luxury industry, Bernstein analysts write in a note. The analysts expect the Italian luxury-fashion company, which is scheduled to report results for the third quarter on Oct. 15, to post organic sales growth in the low teens. This should put the company on track to reach the higher range of its guidance for this year, they add. While the group should record an increase in sales in Europe, the Americas region is expected to outperform other markets, the brokerage says. However, Asia lags behind other markets, the analysts say, adding that the company seems to be focusing on this region. Bernstein maintains its outperform rating on the stock. Shares are up 3.1%. (andrea.figueras@wsj.com)

0816 ET - A long, slow recovery is anticipated for the U.K. house builders as difficult conditions continue to weigh on the sector, Peel Hunt's Clyde Lewis and Sam Cullen write. They expect margins and profits at Barratt Redrow to stay subdued for the foreseeable future. The brokerage will be watching the U.K. government's budget closely, as a potential new help-to-buy strategy could significantly change the situation, the analysts say. Peel Hunt cuts its rating on Barratt stock to hold from add and lowers the target price to 300 pence from 310 pence. Shares are down 1% to 302.40 pence, and are 20% lower over the year to date. (joseph.wilkins@wsj.com)

0813 ET - Nearly 35% of investors who responded to Bank of America's September credit investor survey expect little meaningful regulation in the artificial intelligence industry in the near term. Another 22% of respondents said regulation could have an insignificant impact on AI capital expenditure. Meanwhile, 34% of investors said they favor buying corporate bonds issued by large AI providers--or AI hyperscalers--the survey shows. (miriam.mukuru@wsj.com)

0744 ET - Aluminum prices are expected to weaken into next year as the market moves into a surplus, according to Morgan Stanley analysts. The bank expects recovering supply from the Middle East and a ramp-up in Indonesia to outpace relatively soft demand, resulting in a forecasted global surplus of more than 800,000 tons in 2027. It sees prices falling to around $2,800 a ton in the second half of 2027 from $3,200 currently, although it says higher production costs and the potential for aluminum to substitute for copper should limit the downside.(giulia.petroni@wsj.com)

0740 ET - The goldilocks environment of higher energy prices and buoyant risk sentiment has likely run its course for the Norwegian krone, Deutsche Bank's Shreyas Gopal says in a note. The sharp rise in energy prices has boosted terms of trade for oil-rich Norway. However, the krone is starting to show reduced sensitivity to energy prices, he says. Meanwhile, the krone's yield advantage looks set to narrow even if the Norges Bank raises rates once more as signaled, he says. Futures activity data suggests the krone could be sensitive to a broader unwinding of carry trades where investors borrow in low interest rate currencies to buy currencies with higher rates. "All up, we like buying euro-krone." The euro trades flat at 10.8084 krone. (renae.dyer@wsj.com)

0721 ET - The Swiss franc should recover against the euro by year-end as the bar is high for global interest rate rise expectations to weigh further on the low-yielding currency, Deutsche Bank's Shreyas Gopal says in a note. If energy prices continue to rise, the Swiss National Bank's policy of 0% rates and the franc's depreciation might lift medium-term inflation outside of its comfort range, Gopal says. Furthermore, the franc's real depreciation has taken it back to 10-year average valuations, the SNB's rhetoric on currency interventions has softened and the franc's traditional safe-haven qualities are starting to re-emerge, he says. The euro trades flat at 0.9439 francs, having reached a 17-month high of 0.9480 on Thursday, according to LSEG. (renae.dyer@wsj.com)

0710 ET - German stocks remain on track to outperform other Eurozone equities despite rising political risk in the country, UBS strategists write. The far-right Alternative for Germany made further electoral advances over the weekend. The AfD became the largest party in the coastal region of Mecklenburg-Western Pomerania, winning more than 38% of the vote. Though the party's advance could weigh on sentiment in the near term, German stocks are still well-placed to outperform, they say. "We expect German stocks to benefit from the country's fiscal expansion and increased defense and infrastructure spending." The German DAX rises 1.1% Monday, but gains aren't enough to offset Friday's 1.6% fall.(josephmichael.stonor@wsj.com)

0657 ET - Volatility in equity markets will ease in October as healthy profit margins and strong balance sheets underpin a positive fundamental backdrop, J.P. Morgan's Mislav Matejka says. Geopolitical concerns paired with negative seasonal factors in September have concerned equity investors, the analyst writes. But the strong fundamental case for stocks will reassert itself in October, Matejka says. "Absent a significant growth slowdown, corporate profitability will likely be aided further by potentially improving productivity." Profit margins peak well ahead of economic slowdowns, and margins are still rising--suggesting markets are a long way from a meaningful downturn, the analyst says. Meanwhile, balance sheets are healthy, with debt-to-equity ratios around 20% to 40% below historical averages, Matejka writes. (josephmichael.stonor@wsj.com)

0654 ET - Diageo isn't betting everything on a rapid recovery in spirits consumption in the U.S., but the market nonetheless remains key to the group's plans ahead, Jefferies analysts write in a note. The maker of Smirnoff vodka, Captain Morgan rum and Don Julio tequila said at an investor day last month that it expects America's drinks market to remain soft in the short term. That shows that the company's rebound plans are "not contingent on a roaring recovery in the U.S.," Jefferies says. "However, the U.S. business needs to move from being a drag to being broadly neutral," the analysts say, pointing to the group's efforts to shore up its key brands. Jefferies has a buy rating and a 1,626-pence target on the stock. Shares trade a little lower Monday at 1,603.5 pence. (joshua.kirby@wsj.com; @joshualeokirby)

0653 ET - Societe Generale's guidance supports further earnings upgrades, BofA Securities analysts say. The French bank issued "punchy" targets, the analysts write, focused on selective growth and cost reduction. The revenue guidance of 3% per year and cost cuts leave room for future upgrades, BofA says. "We believe the guidance supports additional earnings upgrades and could translate into mid-single digit upside to consensus EPS," the analysts say. The targets suggest 5% consensus EPS upgrades for 2029, BofA says, while the stock is "heavily discounted". Shares are up 2.9%.