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

1019 ET - Rentokil's agreement to sell SOLitude Lake Management to Bain Capital should be viewed as a positive step in streamlining its business and boosting returns to shareholders, write Bernstein analysts Will Kirkness and Filippo Giardini. Proceeds are likely to be redistributed to investors via a share buyback, according to the analysts. "The $230 million disposal of SOLitude simplifies Rentokil's portfolio, sharpening the company's focus on its core pest control and adjacent hygiene operations while generating approximately $180 million of post-tax proceeds," Bernstein adds. It has an outperform rating on the stock and price target of 510 pence. Shares are up 0.4% at 319 pence, but down 29% over the year-to-date. (joseph.wilkins@wsj.com)

1018 ET - On Holding is planning to expand into even more new sport categories, Co-CEOs David Allemann and Caspar Coppetti say on CNBC. The company, which last week said it would launch a new soccer category with the help of French superstar Kylian Mbappé, is currently eyeing an expansion into golf. "We know that a lot of golfers are already playing in On shoes and On apparel, just because it's comfortable," Allemann and Coppetti say. "There's been very little innovation in golf footwear over the past 10 years, so we have an opportunity." The co-CEOs decline to say what other sports they're looking into, but they tease more expansions are coming. (connor.hart@wsj.com)

1011 ET - On Holding is defying the current highly promotional retail environment, Co-CEOs David Allemann and Caspar Coppetti say on CNBC. "We are the brand with the highest average selling price and the lowest discount rate," they say. "In fact, since our last investor day three years ago, we have taken the average price point for On from $145 to $170." Allemann and Coppetti say the company can charge higher prices due to the brand's premium positioning. Those higher prices, in turn, will allow On to grow its bottom line faster than its top line over the coming years, they add. On climbs 13% after issuing its 2029 financial outlook. (connor.hart@wsj.com)

1006 ET - Bitcoin is retreating slightly after climbing as high as $87,000, which is the highest since January. The push toward $90k has analysts calling for the start of a new "bull cycle" in bitcoin. "Bitcoin has crossed above its 365-day moving average - now at $80.5K - and trades at $86K," says analysts with CryptoQuant in a note. "This crossover is the definitive technical signal that has marked the start of Bitcoin's bull markets in past cycles." The firm adds that $90k is the new resistance level for bitcoin. Bitcoin is down 1.4% to $85,729, while ethereum falls 1.4% to $2,746, XRP rises 1.4% to $1.55, and solana slides 1.7% to $117. (kirk.maltais@wsj.com)

0943 ET - The euro's appeal as a dollar alternative might be beginning to fade somewhat after the Federal Reserve raised interest rates last week and ahead of next year's French elections, Barclays analysts say in a note. While eurozone growth remains resilient, expectations for further rate rises by the European Central Bank appear too aggressive versus fundamentals and against a backdrop of geopolitical and trade risks, they say. "Our updated forecasts pencil in a re-convergence of euro-dollar with rate differentials-implied levels over the next 12 months." The euro falls 0.1% to $1.1455 and Barclays expects it to reach $1.12 by the second quarter of 2027. (renae.dyer@wsj.com)

0939 ET - On Holding Co-CEOs David Allemann and Caspar Coppetti say the company's collaboration with soccer star Kylian Mbappé will bring something new to the game. "We've been innovating with Kylian over the last months," they say on CNBC. "Because we don't have an archive, we do things new." On's expansion into the soccer market--which Allemann and Coppetti call "the biggest sport in the world," will include cleats and apparel, while also going beyond the pitch to include streetwear as well. These new product lines are projected to help fuel the company's growth over the coming years, they add. On surges 12% in early trading, after announcing its 2029 financial targets. (connor.hart@wsj.com)

0849 ET - The Norwegian krone's recent strength could persist if the Norges Bank raises interest rates by 25 basis points to 4.50% on Thursday and indicates further tightening is possible, ING's Francesco Pesole says in a note. Market pricing for rate rises in Norway isn't as aggressive as for the Federal Reserve and European Central Bank, meaning the Norges Bank faces little pressure to lift its rate projections materially, he says. "We nonetheless expect updated forecasts to show some probability of a further fourth-quarter rate hike, while the statement should continue to leave the door open to additional tightening." The euro falls 0.2% to 10.7929 kroner and ING has a near-term target of 10.70 kroner with potential to reach 10.60 kroner.(renae.dyer@wsj.com)

0833 ET - AutoZone shares are up in early trading, even after its F4Q same-store sales missed Wall Street estimates. An 8.6% sales increase in its domestic commercial business implies slightly negative same-store sales for its core do-it-yourself segment, Mizuho analyst David Bellinger says in a note, also mentioning that operating expenses were elevated, though offset by tariffs refunds. "We question shares initially up on this print," he says. The stock ticks up 1.3% premarket. (kelly.cloonan@wsj.com)

0827 ET - The global economy has remained resilient in the first three quarters of 2026, mainly driven by AI-related capital expenditure in the U.S. and Asia, Morgan Stanley economists say in a note. Economies in the U.S., Asia, and Europe have remained stable despite high energy prices from the Middle East war, the economists say. That said, economic growth and rising energy costs are pushing major central banks toward higher interest rates, they say. (miriam.mukuru@wsj.com)

0823 ET - The Hungarian forint remains weaker against the euro, showing a limited reaction after Hungary's central bank held interest rates steady at 5.50%. The decision, which follows three consecutive rate cuts of 25 basis points, was widely anticipated with the central bank having warned about the inflationary impact of a weaker forint and higher energy prices, Capital Economics economist Liam Peach says in a note. The central bank is also expected to lower its inflation target, which might imply a higher near-term rate profile, he says. The easing cycle will probably be on pause through the rest of this year, he says. The euro rises 0.4% to 361.60 forints, little changed from levels before the decision.(renae.dyer@wsj.com)

0821 ET - TUI's latest update points to resilient last-minute demand for its airline segment, which should help rebuild some market confidence, J.P. Morgan analysts say in a note. Signs of demand resilience are important given that shares in the German travel group have shed nearly a fifth of their value since the start of the Middle East conflict, while the Stoxx Europe 600 Travel & Leisure index is broadly flat, the analysts say. TUI said booked revenue at its airline for the 2026 summer season was down 5%, an improvement from the 6% fall disclosed in its previous update. However, booked revenue was up 2% over the past four weeks, which demonstrates that last-minute demand remains resilient, the analysts add. TUI shares rise 2%, but remain down 26% since the start of the year. (adria.calatayud@wsj.com)

0815 ET - Austrian specialty steelmaker Voestalpine sees growth opportunities in sustainable rail mobility. "Rising global investments in the expansion and modernization of rail networks, new transport corridors, and increasing demand for digitalization are opening up attractive prospects for voestalpine Railway Systems and creating significant and sustained demand for its high-quality products," Chief Executive Herbert Eibensteiner says. The company is focused on the Railway Systems segment, whose revenue is expected to increase to approximately 3 billion euros by around 2030 from a current level of roughly 2.2 billion euros. Voestalpine also spots growth potential in India due to extensive investments in new high-speed rail, freight transport, and urban mobility projects.