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

0800 GMT [Dow Jones]--There's no one-size-fits-all solution for managing AI spending within a business, but 75% of the companies who have most effectively leveraged AI have some sort of guideline on token spending, according to a new Boston Consulting Group report. About half of those companies actively encourage employees to maximize their AI usage, while 22% have limits or controls to manage spending. "Organizations that have a strong financial muscle are well-prepared to leverage that capability for AI," BCG Managing Director Natasha Taylor says, adding that businesses are growing smarter about routing less complex AI tasks to cheaper models. (elias.schisgall@wsj.com)

0800 GMT [Dow Jones]--AI spending is increasingly coming from all parts of the enterprise, not just the IT budget, according to a new Boston Consulting Group report. Non-IT spending on AI was five to six times higher than IT spending among surveyed businesses, and IT budgets held flat year over year while overall AI spending tripled. The growth of spending on AI across business units indicates that effective AI adoption is "a strategic imperative for the whole enterprise," BCG Managing Director Natasha Taylor says. "To be successful requires engagement from all of the functions in an organization." (elias.schisgall@wsj.com)

0759 GMT - The scope of China's newly announced mortgage subsidies likely disappointed the market, Julius Baer's Richard Tang says in a note. While the mortgage interest subsidy program was widely expected by the market, the actual scope likely falls short of expectations, as the program is restricted to a small subset of housing types and transactions, he writes. The analyst estimates that only 20%-25% of housing deals will qualify, mostly in lower-tier cities, resulting in marginal effect to investments. "For the equity market, we believe the absence of a policy surprise may extend the weak market sentiment and a year-end rally is much less likely to happen," he adds. Julius Baer continues to favor artificial-intelligence hardware and dividend stocks in China.(megan.cheah@wsj.com)

0755 GMT - Axis Bank shares reverse opening losses, with the lender's shares last 2.0% higher at 1,233.50 rupees on the BSE. The stock's gain comes after the launch of Apple Pay services in India, where customers can add Axis Bank-issued Visa and Mastercard credit cards to iPhones, iPads and Apple Watches. The move marks Apple's entry into one of the world's fastest-growing markets for cashless transactions. A large, still-growing working age population and ongoing urbanization support multiyear demand growth in the country, says Franklin Templeton. (megan.cheah@wsj.com)

0749 GMT - Liontrust Asset Management remains undervalued as the fund management company continues to proactively diversify, Berenberg analysts write. The group's purchase of Hawksmoor's fund management and model portfolio services business seems to be another attractive acquisition, the analysts say. The transaction will add 1.9 billion pounds of assets, with expected operating margins of 60% on 5 million pounds of revenue. Consensus expectations for Liontrust are likely to increase by around 8% next year, with a minimal impact this year, Berenberg says. The stock is trading at a lowly multiple, Berenberg says, as it increases its target price to 390 pence from 360 pence. Shares are up 11% to 289.50 pence. (michael.hennessey@wsj.com)

0749 GMT - Fresenius investors might have overreacted to news that the FDA sent a warning letter to the German healthcare group's Kabi pharmaceutical business alerting it to what the regulator called serious violations at a U.S. facility, Citi analysts say in a research note. Fresenius Kabi said in response that no patient-safety concerns had been identified. While the letter is negative for sentiment, a warning letter doesn't come as a big surprise given that Fresenius had already flagged potential FDA action at its last earnings call, and the company expects no material impact on production or results, the analysts say. "The warning on withholding of new drug approvals until violations are fully resolved is standard warning letter language," they add. Fresenius shares rise 1.8%, after closing 4.9% lower on Tuesday. (adria.calatayud@wsj.com)

0738 GMT - Glencore continues to be Berenberg's preferred large-cap diversified mining stock. The London-listed miner has the most compelling organic copper growth story out of all its peers, Berenberg analysts write. The miner's trading division will continue to benefit this year from volatile energy markets, and it should also gain from elevated thermal coal prices, they add. Shares rise 1.5% to 559.60 pence.(adam.whittaker@wsj.com)

0732 GMT - Although Crest Nicholson's lenders agreed to extend a key deadline on its debt facilities, it hasn't ruled out extending it even further, Jefferies analysts say in a note. The home builder said this might come about after the U.K. government said it will introduce a new "Help to Buy" program aimed at first-time buyers in England. The company says it has sufficient liquidity to extend the refinancing negotiations longer and that it was focusing on giving itself the best deal available, Jefferies says. Shares are down 0.3% at 65 pence. (anthony.orunagoriainoff@dowjones.com)

0718 GMT - European stock indexes open higher, with utilities and mining stocks leading the continent. All sectors except energy are in the green as the Stoxx 600 adds 0.6%. London's FTSE 100 rises 0.7%, led by a 2.3% gain for utilities group SSE. Metals miner Rio Tinto gains 2.2%. The French CAC 40 rises 0.3%, with hotel group Accor up 1.65%. Airbus adds 1.5%. In Germany, the DAX is up 0.6%. Heidelberg Materials and Rheinmetall gain 2% and 1.4%, respectively, as oil prices fall from earlier highs. Spain's IBEX 35 rises 0.8%, while the Italian FTSE MIB adds 0.5%. The Dutch AEX gains 0.5%, with semiconductor names trading steady. (josephmichael.stonor@wsj.com)

0718 GMT - Saga PLC's strategy to simplify its business continues to deliver, Berenberg analysts Jack Cummings and Luka Trnovsek write in a note. First-half performance from the specialized provider of vacations and insurance for consumers over the age of 50 looks exceptional, with key metrics well above consensus, they note. "While the business is not immune to disruption such as the Middle East situation, this is not evident in the results," they add. However, fiscal 2027 guidance remains cautious, they say. Shares are up 9.2% at 7 pounds. (najat.kantouar@wsj.com)

0717 GMT - Hong Kong's retail sector recovery, likely underpinned by rebounding consumption, has more room to run, say DBS Group Research analysts in a note. The city's retail sales grew 8.9% in the first seven months of the year, boosted by local and tourist consumption. This recovery could drive rent increases, they say. The retail recovery could be sustained thanks to Hong Kong's continued efforts to attract overseas talent and a stronger yuan propping up mainland China tourist spending, they add. The analysts expect Hongkong Land and Hysan Development to benefit from the stronger sales, supported by tenant-mix optimization and asset rejuvenation moves. Wharf Real Estate Investment is also poised to gain from tourist spending growth at a retail asset. (megan.cheah@wsj.com)

0714 GMT - Uranium prices are heading higher over the medium term, Berenberg analysts write in a note. Uranium has a compelling outlook, which could push prices over $100 a pound by the end of the year, they say. Prices are currently around $90 a pound. Over the near term, new projects in Kazakhstan and Canada face risks that lead to a slower ramp-up of supply, they add. Demand is also set to grow as new nuclear reactors are rolled out, they add.