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

0614 GMT - Some non-AI sectors could offer better portfolio resilience as Big Tech and semiconductor stocks become more volatile, Saxo Markets chief investment strategist Charu Chanana says in a note. While AI is still the most important long-term investment theme, the AI trade positioning has become increasingly crowded, making them swing wildly in both directions, she says. Instead of abandoning AI stocks, investors need to rebalance oversized AI winners and reduce mega-cap concentration, she says. Chanana thinks healthcare could be a good hedge, as the sector is trading below the broader market and has different earnings drivers from tech. (sherry.qin@wsj.com)

0607 GMT - Abivax's latest disclosures mean its lead drug candidate has the most compelling dataset in ulcerative colitis at the moment, Stifel analysts say in a research note. New study results released this week by the French biotech company for its obefazimod experimental drug for ulcerative colitis should help settle a debate among investors about the medicine's malignancy risk, the analysts say. Moreover, obefazimod's efficacy was validated, with robust results even for hard-to-treat patients, they add. Stifel lifts its estimate on obefazimod's peak sales to 4 billion euros from 2.5 billion euros previously, and expects this to be achieved by 2032 or 2033. (adria.calatayud@wsj.com)

0559 GMT - Keppel DC REIT may benefit from further data-center expansion via its sponsor Keppel's extensive pipeline, UOB Kay Hian's Jonathan Koh says in a research report. Keppel is developing Keppel DC SGP 9 in Singapore, the analyst notes. The sponsor's Keppel Data Centre Fund II also has a framework agreement with Mitsui Fudosan for the forward purchase of a data center currently being developed in western Tokyo. Moreover, the sponsor has entered South Korea's data-center market via Keppel Data Centre Fund III's 73% stake in the greenfield development of a 60-megawatt data center in Ansan. The brokerage raises its target price on Keppel DC REIT to 2.99 Singapore dollars from S$2.90, with an unchanged buy rating. Units are 0.45% lower at S$2.23. (ronnie.harui@wsj.com)

0559 GMT - Abivax's latest data should ease investors' concerns about the safety of its lead drug candidate for ulcerative colitis, increasing the likelihood of a takeover, Stifel analysts say in a research note. A sale to a big pharma company now looks more credible than ever, according to Stifel. "In light of this compelling data package and the scarcity of late-stage assets in [ulcerative colitis], we believe Abivax stands out as an attractive potential M&A candidate," the analysts say. The French biotech company could fetch a valuation of roughly 15 billion to 25 billion euros in a potential takeover, the analysts estimate. Stifel raises its target price on Abivax stock to 175 euros from 115 euros, and sees an 80% probability of a takeover compared with 70% previously. Abivax shares closed at 117.50 euros on Wednesday, giving the company a market value of 9.4 billion euros. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

July 02, 2026 02:14 ET (06:14 GMT)

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