[MARKET ANALYSIS] European bourses firmer as HSBC lifts the banking sector; US equity futures hold onto Anthropic driven gains

European bourses (STOXX 600 +0.5%) are broadly in the green, with the FTSE MIB and FTSE 100 (+0.9%) gaining, helped by positive HSBC earnings (more detail below). The SMI (-0.1%) is the slight laggard, weighed down by Alcon (-0.9%) after the Co. missed on Q4 revenue and core EPS.
Sectors are broadly in the green. Banks (+1.7%) and Basic Resources (+1.9%) sit comfortably at the top of the table, while Food, Beverages and Tobacco (-0.8%) is soft as poor Diageo guidance hits the rest of the sector (Pernod Ricard -3.6%, Heineken -0.8%). HSBC shares (+5.0%) are higher today for three reasons: 1) beating market estimates for its top line metrics, 2) lifting its annual 2026-28 ROTE to 17% or greater, and 3) stating its USD 1.5bln cost-saving target will be hit ahead of schedule. Alongside an update from Santander (+2.2%), in which they expect 2028 net income at EUR 20bln (exp. EUR 18.6bln), this is lifting the Banking sector. Diageo (-5.7%) has been hit hard this morning after it cut its guidance for the second time this fiscal year. The Co. sees FY organic sales dropping 2-3% (prev. guided flat to slightly down). Alongside the guidance was an H1 organic net sales figure, which fell 2.8% on a semi-annual basis, contributing to the slip in Co. shares.
Other key movers include Aston Martin (+1.3%) and Fresenius (-3.3%). The British carmaker stated that its FY revenue fell 21% Y/Y, offset by a 20% workforce reduction for cost-cutting measures. The Co. also sees better financial performance from the delivery of more Valhalla vehicles. For Fresenius, the Co. raised its FY26 sales forecast to between 4-7%, but this missed estimates of 5.9%.
US equity futures (ES +0.1%, NQ +0.2%, RTY +0.4%) hold onto Tuesday's gains, which were helped by Anthropic's announcement that it will be partnering with many companies. Ahead, the main US event is NVIDIA earnings after hours.