1203 GMT - Repsol's 2026 share buyback is seen at 1.7 billion euros, up from a prior forecast of 1.4 billion euros, HSBC's Kim Fustier writes in a note. HSBC also increases its 2027 buyback forecast to 2 billion euros from 1.6 billion euros previously. This is because the Spanish energy major has downstream strength and production ramp-ups that will fuel cash generation, she says. Shares fall 2.7% to 30.70 euros.