ING rises after 'solid' Q1 beat

Shares in Dutch-based lender ING Groep INGA.AS rise about 4%, paring earlier gains of much as about 6%, after "solid" Q1 results accompanied by a new 2 billion euro ($2.3 billion) share buyback

The bank beat market expectations, having delivered 1.46 billion euros in net earnings

RBC analysts point to results beating expectations "across most lines", with their J.P.Morgan counterparts echoing the sentiment

Both brokerages deem the buyback announcement to be in-line with estimates

ING is now guiding for a end-FY CET1 of 12.8-13%

This "should still leave room for further share buybacks but consensus (of) 2 billion could be on the higher end of expectations, depending on the macro outcome", JPM says

Friday's rises push the stock's YTD gains to over 17%​

($1 = 0.8827 euros)