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[MARKET ANALYSIS] European bourses trade mixed, STMicroelectronics surges on new MCU; US equity futures softer despite positive AVGO earnings

European markets exhibit mixed trading patterns, with notable performance in the IBEX 35 driven by technology gains led by STMicroelectronics, which emphasizes the ongoing strength in semiconductor demand.

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China's state iron ore buyer reportedly summons traders on BHP (BHP AT) restrictions following months of long standoff talks between CMRG and BHP over long term contracts on China's mills, Bloomberg reports

India is reportedly in talks with the US for ship insurance and in talks with the IEA and OPEC over the situation on crude oil supply, according to sources

[MARKET ANALYSIS] European bourses trade mixed, STMicroelectronics surges on new MCU; US equity futures softer despite positive AVGO earnings

US Treasury Secretary Bessent reportedly informed House Republicans that they should “take the lead” to “pass our own housing affordability” legislation, in order to prevent Democrats from controlling the issue, Semafor reports citing sources

France sells EUR 13.449 vs exp. EUR 11.5-13.5bln 3.50% 2035, 1.25% 2036, 2.50% 2043 and 4.10% 2046 OAT

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  • European bourses (STOXX 600 +0.4%) are mixed, with the IBEX 35 (+1.8%) leading while the SMI (-0.2%) lags slightly as distributor Kuehne+Nagel (-1.9%) weighs on the index.
  • Sectors are tilted positively, with Utilities (+1.0%) outperforming while Basic Resources (-0.6%) sit at the bottom of the pile despite gains in metal prices. Technology (+0.5%) has been benefiting today after STMicroelectronics (+5.5%) announced a new generation of MCUs to boost performance of tiny smart devices while meeting extreme cost, size and power limitations.
  • Other key movers include Rentokil (+12.2%), Campari (+7.9%) and Nexi (-19.5%). For Rentokil, the Co. posted higher revenue for 2025 and came in line with market expectations, helped by improving momentum in North America. For Italy's Campari, organic revenues rose 2.4% annually with net sales coming in line with estimates, as performance was supported by cost-cutting measures. Sticking in Italy, Nexi has been hit hard after stating 2026 will be a transition year, with FY results coming in broadly as expected.
  • US equity futures (NQ/ES -0.1%, RTY -0.4%) are slightly lower. Broadcom (+7.0% pre-market) reported quarterly earnings and revenue above expectations, and issued stronger-than-expected revenue guidance, driven by robust demand for AI chips.
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Meanwhile, the US equity futures are softer despite Broadcom's solid earnings, suggesting that investor sentiment may be cautious, potentially reflecting broader market concerns despite positive signals from the semiconductor sector.

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