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

0916 GMT - Nintendo's expanded 2027 software pipeline should support long-term earnings growth, but investors are likely to focus on the lack of near-term catalysts following a series of game announcements, Citi analyst Tokiya Baba writes in a note. The Japanese games giant unveiled several coming first-party titles during its Nintendo Direct presentation this week. While Citi expects near-term pressure on the stock as investors digest recent announcements, it views any pullback as a buying opportunity and maintains its 9,800 yen target price, citing expected Switch 2 sales growth and the strength of Nintendo's intellectual property portfolio. Nintendo shares last ended 4.90% lower at Y7,989. (sherry.qin@wsj.com)

0913 GMT - Fever-Tree Drinks is showing good U.S. momentum following its tie-up with Molson Coors, Ed Mundy at Jefferies says. The U.K. maker of tonics and mixers reported an 11% organic increase in U.S. revenue over the first half of the year, outstripping wider group growth, with CEO Tim Warrillow saying the partnership with Molson Coors "is delivering." The American brewer last year signed a deal to acquire a minor stake in Fever-Tree and to produce and distribute its drinks in the U.S. The first-half sales results provide "early proof points of U.S. growth acceleration," Mundy says, noting the partnership's boost to the company's scale and execution capability in the U.S. Jefferies has a buy rating and a 1,100-pence target price on the London-listed stock. Shares lose 6% to 764.5 pence. (joshua.kirby@wsj.com; @joshualeokirby)

0902 GMT - Galp Energia is getting a cash boost from elevated refining margins, high oil and gas prices and strong power prices, Barclays analyst Naisheng Cui writes. The Portuguese oil and gas company says it could deliver close to 5 billion euros of Ebitda with Brent trading a $90 a barrel and refining margins sitting at $35 a barrel, Cui writes after hosting the company at the Barclays Energy-Power Conference. Shares trade flat at 21.40 euros.(adam.whittaker@wsj.com)

0857 GMT - Malaysia's Budget 2027 is likely to balance near-term household support with longer-term economic transformation, RHB senior economist Chin Yee Sian says in a note. Targeted support for vulnerable households may continue, while resources will be separately allocated for certain "strategic" industries. The Budget is likely to prioritize semiconductors, AI, digitalization, aerospace, renewable energy and high-value manufacturing. The fiscal deficit target could remain at around 3.5% of GDP, with growth forecast at 4.9% in 2027. The government expects 2026 growth to come in at 5.4% and for 2027 inflation to remain contained at 1.9% following an estimated 2.1% in 2026.(yingxian.wong@wsj.com)

0822 GMT - Copper extended its record-breaking rally, surging above $14,790 a metric ton as supply shortages and tariff fears continue to drive sentiment. Still, "the speed of copper's rise and the continued narrowing in backwardation reduce the confirmation from nearby fundamentals," analysts at Sucden Financial say. A narrowing in backwardation means the gap between near-term and future copper prices is getting smaller. "A sustained hold above $14,700 a ton could keep systematic and options-related buying active, although a stronger U.S. inflation print could trigger a sharper correction through higher yields and reduced liquidity." In early European trading, three-month futures on the LME tick 0.1% lower to $14,792 a ton. (giulia.petroni@wsj.com)

0754 GMT - Disruption in the Strait of Hormuz has strengthened the case for Adnoc Gas to have export capacity on the east coast but who pays for it will be key, Barclays analyst Ramachandra Kamath writes. The U.A.E government is considering options to de-risk its reliance on the waterway, he adds. The key question for Adnoc Gas investors is ownership versus usage, according to Kamath. The plant would require substantial investment and has limited use under normal circumstances, he says. Adnoc Group could build the asset and then transfer it over to Adnoc Gas, like the group has done before, he says. This would avoid burdening Adnoc Gas's balance sheet or dilute the midteen project returns that management targets, he says. (adam.whittaker@wsj.com)

0749 GMT - Boohoo's disposal of its Sheffield center, which will now be leased by Primark, seems positive for both companies, analysts at RBC Capital Markets write in a research note. Boohoo, which trades under the Debenhams Group name, said it sold its Sheffield distribution centre and reassigned the lease to Primark for 90 million pounds in cash. The disposal should strengthen Boohoo's balance sheet, analysts Richard Chamberlain and Manjari Dhar say. "We expect Primark to use this additional capacity to strengthen its U.K. online capability, including home delivery," they add. As a result of the disposal, Boohoo now expects net debt to be negligible at the end of fiscal 2027. Shares are up 9.4%. (andrea.figueras@wsj.com)

0728 GMT - Yields on U.K. government bonds, or gilts, fall tracking their U.S. equivalents as market focus is on the U.S. inflation data due on Thursday and Friday. The producer price index data is due at 1230 GMT and the U.S. consumer price index data is set to be released on Friday. The data is likely to provide clues on the possibility of an interest rate increase by the U.S. Federal Reserve next week. Markets price in a 59% chance of a Fed rate hike in September. Ten-year gilt yields fall 1 basis point to last trade at 5.241%, having hit a one-week high of 5.270% on Wednesday, Tradeweb data show. (miriam.mukuru@wsj.com)

0725 GMT - A recent ruling by an EU court endorses antitrust officials' ability to look at ecosystem harms--where a dominant tech group could use its network of products and services to weaken competition-- in merger cases, says Francesca Miotto, a partner at law firm A&O Shearman. Booking Holdings failed to overturn an EU veto of its $1.9 billion ETraveli Group as judges said the European Commission was right to find that buying ETraveli would have bolstered its already dominant position in online hotel travel agencies. "We can expect the Commission to look to apply this in other digital markets transactions, especially where a dominant platform is acquiring a complementary service," she says, but adds that it remains to be seen if the watchdog would succeed with deals in other markets. (edith.hancock@wsj.com)

0725 GMT - European stock indexes largely edge higher after falling sharply in the last session. Banks and utilities find some relief, though technology stocks slide. The Europe-wide Stoxx 600 nudges up 0.2% after closing at its lowest level since late Julyon Wednesday. London's FTSE 100 rises 0.15% as asset managers and consumer-facing stocks rise, though Associated British Foods slides 8% after earnings. France's CAC 40 gains 0.3% as Societe Generale gains 1.5%, though luxuries continue to weaken. Germany's DAX is flat. Deutsche Bank adds 1.4%, though index heavyweight SAP drags, falling 3.4%. Italy's FTSE MIB is 0.5% higher, while the Spanish IBEX 35 gains 0.6%. The Dutch AEX nudges 0.1% as ASML drops 0.8%. (josephmichael.stonor@wsj.com)

0722 GMT - China Overseas Land & Investment could benefit from accelerating market consolidation under China's new policies in the long term, say DBS Group Research analysts in a note. Beijing recently introduced stricter presale requirements for homes and tighter controls on the use of home-purchase funds, they say. This could weigh on developers' asset turnover but also boost industry consolidation over time, they add. Large state-owned enterprises such as China Overseas Land & Investment, which have relatively lower borrowing costs, are better positioned to gain market share as weaker developers exit or scale back, the analysts say. DBS maintains its buy rating and 18.75 Hong Kong dollar target price. Shares drop 0.9% to HK$12.84. (megan.cheah@wsj.com)

0714 GMT - Charoen Pokphand Foods' earnings are likely to recover strongly in 2H, says Yupapan Polpornprasert of ttb wealth securities in a report. Drivers are higher livestock prices, resilient demand, and manageable feed costs, the analyst says. Thailand's swine prices rebounded to 72 baht per kilogram in August from 63 baht per kilogram in 2Q, with supply expected to be constrained for another six to nine months, supporting near-term swine prices. With the farming business accounting for 54% of total revenue, the agro-industrial and food conglomerate has high earnings sensitivity to the livestock cycle, making improving meat prices a key catalyst for the share price. The brokerage raises the stock's target price to 28.00 baht from 23.00 baht with an unchanged buy rating. Shares are 1.3% lower at THB23.40.