European pre-market summary - 27th October 2026: Futures falter as energy lifts and heavyweights disappoint

Q3 Earnings HSBC (HSBA LN), -5.3% in HK trade: PBT & Revenue missed. NII higher Y/Y. Affirms guidance, USD 1bln buyback. Orange (ORA FP), +1.4%: Revenue beat, EBITDAaL higher Y/Y. EBITDAaL guidance upgraded. Novartis (NOVN SW), +0.9%: Net in-line, adj. Operating Income and EPS beat. Upgrades FY26 Operating Income guide. Alfa Laval (ALFA SS): Sales & Net miss, adj. EBITA & Orders beat. Assa Abloy (ASSAB SS): Sales, EBITA and EBIT beat. 9M Earnings Porsche AG (P911 GY), +2%: Revenue lower Y/Y, Operating Profit much higher Y/Y. Reaffirms guidance, above exp. Pharmaceutical Bayer (BAYN GY): Post hoc sub-analysis of key secondary endpoint data from the OASIS-1 and OASIS-2 pivotal trials for Lynkuet, in which the efficacy of Lynkuet for the treatment of moderate to severe hot flashes due to menopause was demonstrated. Other Engie (ENGI FP): Belgium is, according to De Tijd, considering compulsory nationalisation of nuclear assets as Engie negotiations struggle to make progress. BE Semi (BESI NA): Applied Materials (AMAT) plans to raise its stake in the Co. to about 20% from 9%. Universal Music Group (UMG NA): Reportedly discussed going private with buyout firms, Bloomberg reports. Novo Nordisk (NOVOB DC): US judge rejects request to temporarily block Eli Lilly (LLY) from advertising claims that its drugs are more effective.