The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1109 ET - IG Group's acquisition of U.S sports prediction market Underdog Sports has significant upside potential, but its success is dependent on regulatory and competitive wins, UBS analysts write. London-listed IG agreed to acquire New York-based Underdog in July. As well as a positive regulatory environment for sports prediction markets, Underdog needs to win greater market share for the takeover to add to IG's earnings outlook, the analysts say. The stock's sharp fall in recent weeks is partly a result of investor concern IG is pursuing the deal because its core growth is stalling, the analysts say. UBS cuts its price target for IG stock from 22.00 pounds to 17.00 pounds. Shares fall 4.4% to 13.24 pounds. (josephmichael.stonor@wsj.com)

0330 ET - ASR Nederland might see consensus upgrades after a strong set of first-half results, J.P. Morgan analysts say. The Dutch insurer's results for operating profit and organic capital creation were ahead of both the consensus and JPM estimates. "The key themes appear to be stronger investment margins in operating profit relative to our forecasts in both life and non-life insurance, as well as a better non-life combined ratio," the analysts write. The results may have been boosted by some one-off benefits, such as reserve releases and expense benefits, JPM adds. However, the result suggests a better run-rate for both organic capital creation and operating profit than expected, the U.S. bank notes. Shares are up 0.8% at 71.32 euros. (michael.hennessey@wsj.com)

0325 ET - Ping An Insurance's expected weak 2Q bancassurance performance will likely weigh on growth in its 1H new business value, says China Galaxy International's Michael Chang in a note. He estimates the insurer's 1H new business value grew 12% from a year earlier, with 2Q likely flat on year, contrasting markedly with 1Q's 21% gain. He anticipates Ping An to provide greater visibility on its earnings recovery at its results briefing, given a challenging 3Q new business value growth outlook on high-base effects, he says. CGI cuts its target price to 78.00 Hong Kong dollars from HK$82.00. Still, Ping An's likely solid 2026-2028 operating profit after tax growth leads CGI to retain its add rating. Shares rise 0.5% to HK$54.15. (megan.cheah@wsj.com)

0202 ET - Hong Kong Exchanges & Clearing's 2Q results could lift the stock, Citi Research analyst Michael Zhang says in a note. 2Q profit and core revenue beat consensus estimates thanks to strong equities turnover, while HKEX's interim dividend of HK$7.43 represents a stable payout ratio of 89%, Zhang says. Strong equities revenue was driven by Hong Kong and northbound turnover growth, with the stock connect revenue accounting for 23% of core revenue, Zhang adds. Citi currently has a buy rating with a target price of HK$495. If the IPO market slows or trading volumes ease with weaker market sentiment, the target price risks being lowered, Zhang says. (kimberley.kao@wsj.com)

2113 ET - 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)

1430 ET - Gold and silver futures settle lower for the day, as bonds sell off and Treasury yields rise to multi-year highs. As a longer-term war with Iran looms over the market, precious metals haven't been behaving as safe-haven assets, but that may be changing. "Gold tends to benefit when policy signals become harder to interpret," says Michael Widmer of Bank of America in a note. Widmer also says demand has been resilient, although it'll take higher demand from ETFs to drive an upside price breakout. Front-month gold falls 1.2% to $4,366/oz, while silver loses 3.3% to $63.941/oz. (kirk.maltais@wsj.com)

1242 ET - Prediction market exchange Kalshi says that it's submitted a filing with the CFTC to list perpetual futures for equity indexes. The company describes the offering as "a type of ‌futures contract that would let traders take leveraged long or short positions on stock market benchmarks similar to the S&P 500 without owning the underlying shares." Kalshi says that it is not planning on launching perpetual futures for single stocks in connection to this filing. Crypto exchange Coinbase is also launching equity market perps, today announcing the addition of the US500 perpetual contract to its derivatives exchange.