LIVE MARKETS-Scope for Europe's banks to upgrade guidance

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SCOPE FOR EUROPE'S BANKS TO UPGRADE GUIDANCE

First-quarter results from Europe's banking sector .SX7P were strong across the board, and while the sector was cautious in its outlook, Barclays believes there is scope for upgraded guidance in the second quarter.

The British bank notes that the beat ratio was particularly high, with 89% beating consensus revenues and 94% beating profit before tax.

Results were strong, but most banks chose to keep their outlook unchanged, given the high macro uncertainty caused by Trump's April 2 tariff plans.

"Certain banks passed along a positive message on earnings calls, highlighting there is upside risk to their FY25 guidance, while keeping guidance unchanged," Barclays says, giving Societe Generale and KBC Group as examples.

"We think that there is scope for guidance upgrades for FY25 for the overall sector with Q2 results."

(Samuel Indyk)

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