Global Equities Roundup: Market Talk

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

0205 GMT - BHP could be expected to take "a more cash flow-oriented approach" to dividends ahead, as commodity prices trade above long-term averages, Macquarie says. BHP has a policy of paying a minimum of 50% of underlying profit at every reporting period. The miner surprised with a final dividend of US$0.99/share, a 72% payout ratio. Macquarie attributes the beat--22% higher than consensus--to stronger free cash flow and proceeds from a silver-streaming deal. The bank raises its target on BHP by roughly 6% to 58.50 Australian dollars a share. It reiterates a neutral rating. Shares are down 0.1% at A$63.81 following a 2.7% gain Tuesday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0148 GMT - ComfortDelGro's growth is likely to be driven by international expansion, DBS Group Research's Zheng Feng Chee says in a research report. Given Singapore's limited market size, the company has leveraged its strong balance sheet to actively pursue international acquisitions such as A2B Australia, the analyst notes. These acquisitions enhance its geographic diversification, complement existing operations, and are expected to be earnings accretive. DBS raises its 2027 earnings forecast for the transport operator by 5% to reflect faster recovery at London-based Addison Lee and continued U.K. public transport momentum. It raises the stock's target price to 1.40 Singapore dollars from S$1.30 with an unchanged hold rating. Shares are 0.7% lower at S$1.36. (ronnie.harui@wsj.com)

0132 GMT - Dialog Group's fiscal 4Q earnings could benefit from stronger upstream contribution and resilient terminal operations, while ongoing Pengerang expansions provide further earnings visibility, RHB IB analyst Lee Yun Leon says in a note. Core PATMI is expected at 163 million-180 million ringgit, up from 3Q's 148 million ringgit, supported by higher oil prices and stable terminal operations, he reckons. Midstream earnings should remain defensive, with tank terminal utilization above 90% and predominantly take-or-pay contracts, he says. The Phase 3 Pengerang Deepwater Terminals expansion will add 614,000 cubic meters of storage capacity and could generate 135 million-150 million ringgit in annual terminal revenue upon full commissioning, he adds. RHB maintains Dialog's buy rating and target price of 2.44 ringgit. Shares are unchanged at 1.93 ringgit.(yingxian.wong@wsj.com)

0128 GMT - Citi thinks there's a modest downside risk to FY 2027 earnings and cash-flow forecasts for Evolution Mining. That reflects higher-than-anticipated guidance on costs and capex, it says. It could be partially offset by stronger gold prices, Citi says. The bank also notes that Evolution's copper-price assumptions for the year ahead are lower than its own. Citi has a neutral rating on Evolution, with a A$13.70/share target. The stock is up 0.2% at A$13.67. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0125 GMT - KPJ Healthcare's 2H earnings could pick up, driven by higher revenue intensity, patient volumes and continued cost optimization, says TA Securities analyst Tan Kong Jin in a note. Health tourism remains a key growth area, with its contribution to KPJ at about 6.5%, versus around 15% for peers IHH Healthcare and Sunway Healthcare, he notes. KPJ plans to expand its centers of excellence to 15 over the next five years, focusing on stroke, cancer, cardiovascular and orthopaedic care. It also targets adding about 2,200 beds to reach 6,270 by end-2030, on rising demand for private healthcare from an ageing population, he adds. TA Securities has a buy rating and target price of 3.61 ringgit. Shares are 2.6% higher at 3.10 ringgit. (yingxian.wong@wsj.com)

0113 GMT - Judo Capital keeps its bull at Morgans after flagging more strong growth across its current fiscal year. Analyst Nathan Lead keeps a buy rating on the Australian business lender, telling clients in a note that he expects 12% annual growth in gross loans and advances, which is consistent with the company's target of above-industry growth. Lead is looking for a FY 2027 net interest margin of 3.15%, up from the 3.13% that Judo reported for the 12 months through June 30. He acknowledges the risks that come with Judo's higher relative exposure to economic cycles, but sees compensation from the potential returns on offer. Morgans trims its target price 3.4% to 1.42 Australian dollars. Shares are down 4.7% at A$1.02, but still up by 10% so far this week. (stuart.condie@wsj.com)

0113 GMT - While Evolution Mining raised its final dividend by 62% to a record high, "the market was looking for more," says Macquarie. The FY payout of 41 Australian cents a share, while a 2% beat versus Macquarie's expectations, is a 5% miss to consensus, the bank notes. FY27 guidance is also soft due to lower-than-anticipated forecast copper output and higher-than-anticipated all-in sustaining costs, it says. Macquarie has a neutral rating and A$11.50/share target on Evolution. Shares are up 0.6% at A$13.73, after initially falling as low as A$13.16. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0101 GMT - Santos's interim dividend of 11.6 U.S. cents a share was well ahead of consensus hopes, driving a 3.2% increase in its share price to 8.37 Australian dollars today. Santos effectively paid out all of its 1H free cash flow of US$377 million. That means Santos is "paying it forward," Macquarie says. It is encouraged by this approach "given there wasn't all-in free cash flow to pay out this half on timing and commissioning issues." Santos experienced teething problems at its Barossa natural-gas project in Australia and the Pikka Phase 1 oil project in Alaska during the half. It also lifted five equity marketed cargoes before the end of 2Q, but didn't get receipts until after 2H began. Macquarie had an outperform call on Santos heading into today's result. (david.winning@wsj.com; @dwinningWSJ)

0053 GMT - Whitehaven Coal's annual profit misses expectations due to slightly lower revenue, inventory movement, and higher depreciation and amortization, Barrenjoey says. Underlying profit of 227 million Australian dollars is 8% below consensus and 15% lower than Barrenjoey's forecast. The coal miner's FY dividend of A$0.10/share is 3% below consensus but in line with Barrenjoey's expectations. "FY27 guidance provided with volumes a touch soft, unit cost in line but capex lower, which may see consensus earnings and cash flow downgrades," says Barrenjoey. The bank has a neutral rating and A$7.50/share target on Whitehaven. Shares are down 3.1% at A$7.52. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0019 GMT - Japanese stocks are lower in early trade, tracking Wall Street's losses overnight. U.S. equities' declines come amid a global bond selloff that has sent long-term yields to their highest levels in years. "Equity investors have finally started to respond by going a bit defensive," FOREX.com's Fawad Razaqzada says in an email. "The overcrowded AI trade is losing momentum as yields press higher," the market analyst adds. Among the worst performers on the Nikkei, Renesas Electronics and Fujikura slip 7.2% each and Sumitomo Electric Industries is down 6.7%. The dollar is at 159.46 yen, compared with Y159.73 around Tuesday's Tokyo market close. The Nikkei Stock Average is down 2.7% at 65604.25. (ronnie.harui@wsj.com)

0011 GMT - Temple & Webster's bull at RBC is concerned that the furniture retailer's margin guidance offers no real clue about FY 2027 revenue expectations. Analyst Wei-Weng Chen says guidance for a FY 2027 Ebitda margin of 5%-6% is extremely ambiguous. Working backwards, he warns clients that the Australian company's guidance allows for revenue growth of 20%, contraction of 17%, and anything in between. Realistically, he thinks the online retailer is expecting revenue to be flat for the period. RBC has a last-published outperform rating on the stock and a target price of 8.00 Australian dollars. Shares are down 15% at A$4.30. (stuart.condie@wsj.com)

2341 GMT - Mirvac's share price looks like a good bet to rise after reassuring nervy investors with its FY26 result and outlook, signals Citi. "Given the buy side negativity heading into the results around FY27 earnings guidance, we believe Mirvac's earnings should be received positively," analyst Suraj Nebhani says. Mirvac pointed to FY27 operating EPS of 13.2-13.4 Australian cents. That is up 3% on FY26 at the midpoint of the range and broadly in line with consensus expectations, Citi says. It's underpinned by forecast settlement of 2,800-3,100 residential lots in FY27, with 63% of earnings already secured via pre-sales. "Balance sheet metrics improved significantly, with gearing falling to 24.1%, enabling a newly announced A$200 million buyback," Citi adds. Mirvac ended Tuesday at A$1.74.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

August 18, 2026 22:05 ET (02:05 GMT)