[MARKET ANALYSIS] European bourses mixed; Porsche AG raises guidance following Bugatti stake sale

European bourses are mixed, with Italy's and Spain's main indices (IBEX 35/FTSE MIB +0.5%) outperforming while the AEX (-0.2%) is the slight laggard. Light in terms of newsflow this Thursday morning, with focus being on US data (PPI on Thursday, CPI on Friday) and the ECB. Sectors point to a mixed picture. Autos top the sector pile, followed by Utilities and Energy. To the downside is Tech, with Basic Resources and Optimised Personal Care rounding out the sector laggards. Key movers include: AB Foods (-10.3%), guides comparable sales to drop 3% in Q4 while Primark LFL sales guided at -2.6%; Porsche AG (+0.6%), raises Auto Net Cash Flow Margin guidance following the EUR 1bln sale of its Bugatti stake; Novartis (+1.3%), upgraded to hold at HSBC, citing a clearer runway for medium-term growth and potential for margin expansion beyond 2027. US equity futures point to a slightly positive picture, ES +0.1%, with just the NQ printing modest losses of -0.1%. Elsewhere, the WSJ reported that South Korea is nearing a USD 100bln announcement of a major energy investment in the US to support the AI buildout.