[MARKET ANALYSIS] European stocks firmer; Tech lags on elevated yields and poor SK Hynix performance

European bourses (STOXX 600 +0.4%) are broadly firmer this morning, albeit modestly so. Strength today comes despite a mixed APAC session, and in the midst of an uncertain geopolitical environment and elevated yields. European sectors hold a strong positive bias. Optimised Personal Care tops the pile, joined closely by Retail and Consumer Products. The downside resides Basic Resources, with the sector dented by continued pressure in the metals space amidst elevated yields and geopolitical uncertainty. Also towards the bottom is Tech, following the negative bias set out by SK Hynix (-5%) and Samsung (-5.4%) overnight. For the former, it was recently confirmed that SK Hynix’s unit Solidigm is aiming for a US IPO, which would see SK Hynix essentially sharing Solidigm's future earnings. Key Movers: Barrat Redrow (+13%) / Persimmon (+14%) gain after UK PM Burnham announces a new help-to-buy scheme to get first-time buyers on the housing ladder, named "Your First Home". Elsewhere, Entain (-2%, sees FY26 EBITDA at the lower end of its guided range), Rexel (+0.5%, acquires GCG for USD 1.4bln). US equity futures are lower across the board, with underperformance in the tech-heavy NQ (-0.9%) vs the ES (-0.4%). This action comes amidst elevated yields and higher energy prices, and with Tech also pressured by the aforementioned SK Hynix report.