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

0945 GMT - H&M's fiscal third-quarter report and post-quarter sales update once again confirmed that the group's key challenge remains accelerating revenue growth, SB1 Markets analyst Magnus Raman writes. Sales measured in local currencies rose by 1% on year during the quarter and growth has remained at 1% in September, despite a relatively easy comparison base of 0% growth in the same month last year, he adds. "By comparison, we estimate that Inditex increased sales in local currencies by approximately 9% year-on-year during the June-August period." Looking ahead, the bank expects factors that have recently boosted margins to subside and, in some cases, potentially turn into headwinds. SB1 Markets has a neutral rating and 170 Swedish kronor target price on the stock. Shares fall 0.6% to 161.80 kronor. (dominic.chopping@wsj.com)

0944 GMT - Magnum's sales are set to be given a boost by warmer summers in Europe, J.P. Morgan analysts Celine Pannuti and Edward Hockin write. The analysts expect the ice-cream company to report sales growth of 5.6%, driven by stronger results in Europe, Australia and New Zealand, at its trading update on Oct. 29. "Net-net, we think the confident tone on the market growth currently and share performance signals strong trading in 3Q," J.P. Morgan wrote earlier this month. The bank has a neutral rating on the stock and 14-euro price target. Shares are down 1.2% at 16.696 euros, but up 23% over the year to date. (joseph.wilkins@wsj.com)

0936 GMT - European stocks linked to the buildout in artificial intelligence rally as investors' enthusiasm around AI picks up. Frontier AI company Anthropic signed a computing deal worth at least $11.6 billion, offering a fresh tailwind for AI-linked companies as the buildout in infrastructure linked to the technology continues apace. ASML shares rise 2.3%, while Dutch peers BE Semiconductor and ASM International rise 1.6% and 1.4%, respectively. Chip makers Infineon and STMicroelectronics rise 1.7% and 2.4%, respectively. The upturn includes companies linked to the buildout in data centers, with Siemens Energy and electrification group Prysmian both up around 3%. A basket of European tech stocks adds 1.3%. (josephmichael.stonor@wsj.com)

0931 GMT - Continental's sale of MyCar Tyre & Auto should lift group margins given the Australian tire and automotive retail business operated below the company average, Citi analysts write. The German tire maker sold MyCar Tyre & Auto to Tuhu at an enterprise value of $403 million and Citi doesn't expect any material tax or transaction cost impact. The deal will probably reduce group revenues by 200 million-250 million euros, all from the APAC region. "These steps further exemplify Conti's strategy to simplify the business and improve capital allocation discipline." The bank reiterates its buy rating and 80 euro target price on the stock. Shares rise 0.5% to 69.54 euros. (dominic.chopping@wsj.com)

0927 GMT - ArcelorMittal faces a small downside risk to its third-quarter earnings due to being unable to safely restart its Ukrainian site, J.P. Morgan's Dominic O'Kane says. The company will record a non-cash impairment of around $1 billion, which is not expected to impact earnings before interest, taxes, depreciation and amortization. However, JPM sees a risk of higher EBITDA losses in the "other" segment, which includes the Ukraine operation. The contribution of the site to group profit is relatively small, the analyst notes. Wider disruption at Ukrainian steelmaking sites could positively impact European steel prices, JPM noted. Shares are up 2.2%. (michael.hennessey@wsj.com)

0858 GMT - Akamai Technologies' $11.6 billion multiyear agreement with Anthropic demonstrates the advantage of the cloud computing company's software, J.P. Morgan analysts write. The deal includes the potential to add another $9 billion in revenue for Akamai, an option the analysts expect to be activated. Akamai's software means data can travel quickly and with minimal lag, the analysts say. Because of Akamai's efficiency, the company can generate an average $22 million per megawatt of power--a level that beats out compute deals with other cloud companies. The analysts raise their price target for Akamai shares to $167. The stock surges 21.5% premarket to $133.90. (josephmichael.stonor@wsj.com)

0857 GMT - United Utilities should outperform over the coming years after holding its guidance for fiscal 2027, J.P. Morgan analysts Pavan Mahbubani and Samanvitha Theegela write. The U.K. water company is performing in line with expectations and is on track to deliver 2 billion pounds of investment next year. The analysts see a backdrop of "attractive, inflation-linked regulation" to outperform in the medium term, but say fiscal 2026 lacks positive catalysts to drive a re-rating in the share price. JPM holds a neutral rating on the stock and a 14.50 pound price target. Shares are 0.7% higher at 14.08 pounds and 18% higher over the year to date. (joseph.wilkins@wsj.com)

0832 GMT - AB InBev has notable growth potential ahead even if trading headwinds remain in the short term, Citi's Simon Hales and Sunny Wadhwani write in a note to clients. The Bud Light brewer at a capital-markets event this week shifted its medium-term growth goal to 5%-9% annual increases in EBIT, from a previous 4%-8% Ebitda target. The group's business-to-business platform BEES is among the company's growth drivers, alongside its megabrands and an increased balance toward nonbeer categories like canned cocktails, Hales and Wadhwani say. Challenges this quarter might keep a lid on short-term stock performance, but "we leave the CMD more confident" in the sustainability and deliverability of AB's growth ambitions, the analysts say. (joshua.kirby@wsj.com; @joshualeokirby)

0804 GMT - Food Empire could gain market share in the Russian coffee sector after one of its peer's business in the country was disrupted, say UOB Kay Hian analysts in a note. Russia unexpectedly seized Nestle's local operations last week, The Wall Street Journal reported. Food Empire, a Singapore-listed instant coffee maker that makes around 30% of its revenue from Russia, said its operations in the country are unaffected but its shares declined around 10% on Monday, the UOB KH analysts say. The share-price correction appears overdone, as the market hasn't priced in Food Empire's potential to gain market share after Nestle's operations were disrupted, they add. UOB KH retains its buy rating and 3.49 Singapore dollar target price. Shares fall 1.0% to S$1.96. (megan.cheah@wsj.com)

0745 GMT - London's miners gain after oil prices ease. Brent crude and WTI fall as investors assess the likelihood that U.S.-Iran diplomatic efforts could reopen the Strait of Hormuz. Miners are some of the world's largest consumers of diesel and higher prices eat into margins. High oil prices also raise the prospect of interest rate rises to combat inflation. This would hurt investment and consumer sentiment, and drag on demand for mined minerals and metals. With sentiment improved, Glencore rises 2% while Anglo American gains 1.3%. Antofagasta is 0.9% higher. Precious metal miners Fresnillo, Hochschild Mining and Endeavour Mining all gain over 1.2%. Brent crude futures are down 1.1% to $105.45 a barrel, while West Texas Intermediate falls 1.9% to $92.85 a barrel.(adam.whittaker@wsj.com)

0736 GMT - European energy stocks open lower as oil prices slip. Brent crude and WTI have fallen as investors assess the likelihood that U.S.-Iran diplomatic efforts could reopen the Strait of Hormuz. Brent crude futures are down 1.1% to $105.45 a barrel, while West Texas Intermediate fall 1.9% to $92.85 a barrel. In London, BP falls 2% and Shell drops 0.4%. France's TotalEnergies is 0.8% lower and Spain's Repsol is down 0.6%. Italy's Eni falls 0.2%. Norway's Equinor is down 1.3%. (adam.whittaker@wsj.com)

0731 GMT - European stock indexes open in the green, boosted by a rally in AI-linked stocks. Banks and mining stocks also gain as the Stoxx 600 rises 0.7%. The semiconductor-heavy AEX adds 0.6% in Amsterdam, with ASML jumping 2.3%. Peers ASM International and BE Semiconductor add 2% and 1.4%, respectively. In Paris, the CAC 40 gains 0.4%, boosted by a 3.1% jump for chip maker STMicroelectronics. Societe Generale gains 2.4%. Metals miners lift London's FTSE 100 up 0.5%, while the German DAX rises 0.7%. Deutsche Bank gains 2.2%, while data center energy provider Siemens Energy rises 2.1%. Banks lift Italian and Spanish indexes, with the FTSE MIB up 1.1% and the Ibex 35 gaining 0.8%.