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

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. (andrea.figueras@wsj.com)

0811 ET - Thor's margins are taking a hit. The RV maker says its largest suppliers have passed on rising input costs, as they face tariffs and broader inflationary pressures. "Due to the challenged retail market and affordability challenges facing RV customers, we have so far made a deliberate choice not to pass the full burden of these rising costs on to our independent dealer partners and retail customers," Thor Industries says in prepared earnings remarks. "The cost of that choice is visible in our results." The company also says it's working to make its margins more resilient in the long-run, including by better managing production, growing its owned supply business and optimizing its organizational structure. (connor.hart@wsj.com)

0753 ET - Luxury companies are expected to report a slowdown in demand despite likely better trends in September, BofA analysts write in a research note. The third quarter will likely show that the downturn was primarily in July and the first two weeks of August, the analysts say, noting that things should look less bad from mid-August. Chinese demand remained soft during summer and "there continues to be limited evidence of green shoots necessary for a material recovery, with consumer confidence remaining low," they add. U.S. demand could have moderated, while in Europe tourism remains a drag, BofA says. (andrea.figueras@wsj.com)

0749 ET - Kingfisher has broken through some of the clouds hanging over the stock following its latest half-year figures, Interactive Investor's Richard Hunter writes. The home-improvement firm raised its guidance as it reported market-beating earnings. Though the release contains some conflicting signs, there is an overall notable improvement in some key metrics, Hunter says. "Set against an undemanding valuation, the profit upgrade has stolen the show and the shares have risen sharply at the open as a result." Kingfisher shares are 9.7% higher at 335 pence. (joseph.wilkins@wsj.com)

0731 ET - Thor Industries says macroeconomic strains continue to weigh on consumers. "The pressures on the North American RV consumer that we described last quarter still remain, and in some instances, they are becoming more pronounced with the recent interest rate increase and elevated fuel prices," the RV maker says in prepared earnings remarks. Entry-level and mid-tier buyers are trading down to smaller and used RVs, or staying out of the market entirely for the time being, the company adds. Across Europe, consumers are generally operating from an overall healthier financing foundation, paying a higher percentage of the purchase price in cash with less reliance on finance, according to Thor. (connor.hart@wsj.com)

0731 ET - European equities indexes rise as a sharp fall in oil prices supports energy-sensitive stocks on the continent. Technology and industrial stocks rally as the Europe-wide Stoxx 600 adds 0.35%, while clothes retailers also jump. Germany's DAX reverses earlier losses to move up 0.4%. Retailers Zalando and Adidas gain 4.45% and 3.2%, respectively. The CAC 40 adds 0.5% in Paris, boosted by a recovery in luxuries. Software group Capgemini rises 1.75%. London's FTSE 100 nudges up 0.1%, with gains for consumer-facing stocks outweighing a slip in oil majors. British Airways-owner IAG adds 2.9%. Italy's FTSE MIB slips 0.2%, while the Spanish IBEX 35 gains 0.8%, boosted by a 4.2% gain for Puig Brands. The Dutch AEX gains 0.7% as AI-linked stocks gain momentum. ASML adds 0.4%.