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

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.