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[MARKET ANALYSIS] European bourses higher across the board; HSBA LN beats in Q2, raises savings target; BAYN GY tops Q2 expectations, cuts debt forecast

Newsquawk Staff ·

  • European bourses continue to climb, with the FTSE MIB the outperformer. Not much in terms of a broader driver; plenty of corporate earnings were on the docket this morning, while another day of no strikes between the US and Iran brightens hopes of a sustained end to the conflict.
  • Sectors are mixed. Basic Resources top the sector pile, followed by Tech and Industrial Goods & Services. Retail is the sector laggard, with Travel & Leisure and Consumer Products & Services rounding out the underperformers. Weighing on Retail is the earnings from Zalando (-15.5%), in which Q2 revenue missed estimates and narrowed its FY26 adj. EBIT guidance.
  • Other key earnings include: Bayer (+3.4%), Q2 revenue and Adj. EBITDA beat estimates and confirms FY26 view; Continental (-1.5%), FY26 revenue guidance missed estimates and highlighted that raw material costs are set to substantially increase; Lufthansa (-9.5%), cuts FY26 adj. EBIT guidance and notes heightened levels of forecasting uncertainty; HSBC (-1.0%), Q2 PBT and Net beat estimates and announces a USD 1bln share buyback programme; BP (+1.0%), Q2 revenue beat and announces its intention to sell Archaea.
  • US equity futures are slightly firmer, with the tech-heavy NQ outperforming. After-hours, Palantir reported better-than-expected Q2 metrics, surging US commercial demand, and a raised FY outlook, resulting in shares up over 16% pre-market. For Onsemi, shares are also higher by some 7% pre-market after earnings and revenue topped expectations, and it raised its outlook for AI data centre sales.

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