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StreetAccount Summary - EU Market Recap: FTSE 100 +0.55% to 10365.44, DAX +0.94% to 24721.46, CAC40 +0.43% to 8273.84, STOXX 600 +0.90% to 617.15

Feb 06 ,2026

  • Synopsis:

    • European indices ended in positive territory, near the session's highs, In macro-news, German exports surged 4.0% m/m in Dec versus consensus of 1.0% and 2.7% in Dec 2024, signaling robust external demand. Instead, industrial production fell 1.9% m/m, missing the -0.3% forecast and reversing Nov's revised +0.2% gain, highlighting sector volatility with key drags from autos (-8.9%) and machinery (-6.8%). Analysts note Dec data halts brief three-month upswing but is viewed as temporary. Exports boosted by China (+10.7%) and UK (+14.6%), while production saw energy-intensive branches -0.9% (implying muted input costs). Strong exports follow yesterday's strong factory orders data which remains on the longest positive run since post-2020 lockdowns. May signal positive momentum for corporate earnings in export-heavy sectors, though production miss tempers near-term upside. Taken together, signals may point to a cyclical upswing in 2026, ending prior stagnation. However, analysts flag deep structural issues like bureaucracy, demographics and taxes which demand reforms under Chancellor Merz for sustainable growth. In the UK, average house prices crossed £300,000 for the first time in Jan, reaching £300,077 according to Halifax-up 0.7% monthly and 1.1% annually

    • On the reporting front, bank names in focus, with SocGen, Banco BPM and Sabadell posting their latest Q4/FY numbers; in Italy, Enel reported prelim FY whilst shares in Stellantis are halted after posting a H2 net loss of (€19B)-(€21B); company also suspended dividends. In the Nordics, Ørsted Kongsberg, Aker Solutions and Coloplast were among several names from the region to issue their most recent numbers before the open. Elsewhere, VINCI SA, Renk Group and Bechtle also updated investors

    • Looking ahead to next week calendars (pls see our StreetAccount Summary - Europe Week Ahead attached below), Ahold Delhaize (AD.NA), Anheuser-Busch InBev (ABI.BB), AstraZeneca (AZN.LN), bp (BP.LN), Barclays (BARC.LN), Hermes (RMS.FP), Michelin (ML.FP), Siemens (SIE.GR), TotalEnergies (TTE.FP) and Unilever (ULVR.LN) will be among several other names updating investors. Key macro-updates will include Eurozone Q4 GDP (2nd est.), UK Q4 preliminary GDP and Dec industrial/manufacturing production

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers: Construct & Mtls +3.50%, Oil & Gas +1.54%, Banks +1.41%, Technology +1.23%, Ind Goods & Svcs +1.15%, Basic Resources +1.15%

      • Underperformers: Autos & Parts (3.00%), Chemicals (0.45%), Food & Beverage +0.00%, Telecom +0.32%, Health Care +0.34%, Financial Svcs +0.37%, Persnl & HHold Goods +0.39%, Real Estate +0.48%, Insurance +0.51%, Media +0.54%, Retail +0.74%, Travel & Leisure +0.85%, Utilities +0.89%

    • Macro:

      • Euro zone ministers to weigh euro-stablecoins, more joint debt issuance to boost role of euro, economic security (Reuters)

      • This by-election in suburbia is Keir Starmer's next nightmare (Politico)

      • Europe threatens to shun British goods just as Starmer embraces Brussels (Telegraph)

      • How "remigration" is penetrating Europe's political mainstream (Economist)

      • Bitcoin falls below $65,000 to wipe out 'Trump rally'(FT)

      • Novo's Stratospheric Rise Has Turned Into a $460 Billion Wipeout (BBG)

      • Western values foundation of future to build together, PM Meloni tells VP Vance (Ansa)

      • Norway Launches Probe Into Former Premier Over Epstein Links (BBG)

    • Company news:

      • Notable Gainers

        • +33.3% MVIR.SS (Medivir SEK0.58, +0.14) -- carries out a directed share issue of SEK 45M to Carl Bennet AB

        • +17.9% HOFI.SS (Hoist Finance SEK141.50, +21.60) -- Q4 earnings

        • +15.6% KOG.NO (Kongsberg Gruppen NOK371.50, +50.05) -- Q4 earnings

        • +15.1% LEHN.SW (LEM Holding CHF329.50, +43.00) -- Q3 earnings

        • +14.7% VIT.B.SS (Vitec Software Group SEK258.20, +33.20) -- Q4 earnings

        • +13.4% KNOW.SS (Knowit SEK124.60, +14.80) -- Q4 earnings

        • +12.4% LINDEX.FH (Lindex Group €2.62, +0.29) -- Q4 earnings

        • +11.4% APAM.NA (Aperam €41.42, +4.24) -- Q4 earnings

        • +10.9% LAGR.B.SS (Lagercrantz Group SEK221.20, +21.70) -- Q3 earnings

        • +10.2% DURC.B.SS (Duroc SEK18.30, +1.70) -- Q2 eanrings; agrees to acquire four companies for SEK121M on a cash- and debt-free basis

        • +9.9% DG.FP (VINCI SA €133.95, +12.10) -- FY eanrings

        • +9.6% MCAP.SS (MedCap SEK542.00, +47.50) -- Q4 earnings

        • +9.2% AKSO.NO (Aker Solutions NOK38.00, +3.20) -- Q4 earnings

        • +8.5% BOOZT.SS (Boozt Fashion SEK96.75, +7.65) -- Q4 earnings

        • +7.4% IBT.B.SS (Infant Bacterial Therapeutics SEK49.95, +3.45) -- Q4 earnings

        • +7.2% TEL.NO (Telenor NOK173.50, +11.60) -- Q4 earnings

        • +5.5% FGR.FP (Eiffage €134.45, +7.05)

        • +5.3% PNDORA.DC (Pandora DKK570.00, +28.80)

        • +4.8% MT.NA (ArcelorMittal €51.34, +2.33)

        • +4.4% DIGIA.FH (Digia €6.64, +0.28) -- Q4 earnings

        • +4.2% CLAS.B.SS (Clas Ohlson SEK329.20, +13.40) -- Jan sales

        • +3.8% VONN.SW (Vontobel Holding CHF67.60, +2.50) -- FY eanrings

        • +3.6% FLS.DC (FLSmidth & Co. DKK591.50, +20.50) -- prelim Q4 earnings

        • +3.5% ORSTED.DC (Ørsted DKK144.20, +4.85) -- Q4 earnings

        • +2.8% SAAB.B.SS (Saab SEK658.10, +17.60)

        • +2.3% FBK.IM (FinecoBank €22.46, +0.50) -- Q4 eanrings

        • +1.8% ASAI.LN (ASA International Group £2.28, +0.04)

        • +1.8% KDEV.SS (Karolinska Development SEK0.26, -0.00) -- portfolio company SVF Vaccines and Novakand Pharma enter into a reverse acquisition agreement

        • +1.2% IQE.LN (IQE £0.08, -0.00)

        • +0.4% BEIA.B.SS (Beijer Alma SEK271.50, +1.00) -- Q4 earnings

      • Notable Decliners

        • -26.3% CTT.SS (CTT Systems SEK121.00, -42.60) -- Q4 earnings

        • -24.0% STLAM.IM (Stellantis €6.17, -1.96) -- H2 earnings; sells its 49% equity stake in NextStar Energy to LG Energy Solution

        • -12.8% HUM.SS (Humana AB SEK43.65, -6.35) -- Q4 earnings

        • -9.4% BC8.GR (Bechtle €38.06, -3.94) -- prelim FY eanrings

        • -8.6% VALMT.FH (Valmet €27.40, -2.57) -- Q4 earnings

        • -8.2% COLO.B.DC (Coloplast DKK493.50, -43.90) -- Q1 eanrings

        • -8.0% TROAX.SS (Troax Group SEK103.60, -9.00)

        • -7.0% XVIVO.SS (Xvivo Perfusion SEK201.40, -15.20)

        • -6.9% ANDR.AV (Andritz €70.75, -5.20) -- prelim FY eanrings

        • -6.9% AYV.FP (Ayvens €11.51, -0.85) -- FY earnings

        • -5.6% YIT.FH (Yit €2.99, -0.18) -- clarifies the reporting of its strategy-aligned business operations; Q4 earnings

        • -5.5% KNEBV.FH (Kone €59.92, -3.52) -- Q4 earnings

        • -4.8% SAB.SM (Banco de Sabadell €3.11, -0.16) -- appoints new CEO; Q4 earnings

        • -4.5% DUNI.SS (Duni SEK101.20, -4.80) -- Q4 earnings

        • -3.9% REL.LN (RELX £21.56, -0.88)

        • -3.9% VCT.LN (Victrex £6.67, -0.27) -- Q1 trading update

        • -3.8% BN.FP (Danone €69.12, -2.76)

        • -3.1% RNO.FP (Renault €30.97, -0.98) -- Stellantis sympathy

        • -3.0% FUTR.LN (Future Plc £4.67, -0.14)

        • -2.6% SKA.B.SS (Skanska SEK272.00, -7.20) -- Q4 earnings

        • -2.5% CAP.FP (Capgemini €114.65, -2.95)

        • -1.9% GLE.FP (Societe Generale €73.20, -1.44) -- Q4 eanrings

        • -1.7% DEDI.SS (Dedicare SEK40.80, -0.70) -- Q4 earnings

        • -1.7% KNOS.LN (Kainos Group £7.57, -0.13)

        • -1.4% EMSN.SW (EMS-Chemie Holding CHF617.00, -8.50) -- FY earnings

        • -1.4% VLA.FP (Valneva €4.02, -0.06) -- Stellantis sympathy

        • -1.2% VOW3.GR (Volkswagen €100.75, -1.25) -- Stellantis sympathy

        • -0.7% AML.LN (Aston Martin Lagonda Global Holdings £0.60, -0.00) -- Stellantis sympathy

        • -0.7% FRVIA.FP (Forvia €14.06, -0.10) -- Stellantis sympathy

        • -0.4% FR.FP (Valeo SE €12.59, -0.04) -- Stellantis sympathy

        • -0.2% METSB.FH (Metsa Board €2.96, -0.01)

    • EU companies reporting on Monday:

      • Benelux: NX Filtration (NXFIL.NA)

      • Nordics: Sagax (SAGA.B.SS), Bakkafrost (BAKKA.NO)

      • Southern Europe: Banca Monte dei Paschi di Siena (BMPS.IM)

      • UK: Plus500 (PLUS.LN), Porvair (PRV.LN), Wynnstay Group (WYN.LN)

      • Trading Update:

        • DACHs: Aumovio (AMV0.GR)

        • France: Beneteau (BEN.FP)

      • CMD/Events: Roche Holding (ROG.SW) Fenebrutinib vs. Ocrevus Phase III FENtrepid study update call

    • Macro-data releases expected on Monday:

      • Switzerland Jan consumer confidence - SECO

      • Norway Q4 GDP, Jan PPI

      • Denmark Dec trade balance

      • Eurozone Feb Sentix economic index

  • Data:

    • Economics:

      • Germany Dec

        • Trade Balance €17.1B vs consensus €14.1B and prior €13.1B

        • Industrial Production (1.9%) m/m vs consensus (0.3%) and prior revised +0.2% from +0.8%

      • UK Jan Halifax House Prices +1.0% y/y vs consensus 0.0% and prior revised +0.4% from +0.3%

      • France Dec Trade Balance (€4.8B) vs consensus (€3.8B) and prior revised (€4.0B) from (€4.2B)

      • Spain Dec Industrial Production (0.3%) y/y vs consensus +4.0% and prior revised +4.6% from +4.5%

      • Switzerland Jan Unemployment Rate (sa) 2.9% vs consensus 3.0% and prior 3.0%

      • Dec Manufacturing Production

        • Denmark (1.0%) m/m vs consensus +4.5% and prior revised (5.8%) from (5.7%)

        • Norway (sa) (0.1%) m/m vs prior revised to +2.0% from +2.4%

      • Sweden Jan preliminary CPI +0.4% y/y vs consensus +0.6% and prior +0.3%

    • Markets:

      • WTI Crude (Mar 26): +$0.75 or +1.19% to $64.04

      • €-$ +0.0038 or +0.32% to 1.1817

      • £-$ +0.0082 or +0.61% to 1.3612

      • €-£ (0.0024) to 0.8683

      • S&P 500 +1.49%

      • Performance year-to-date

        • FTSE 100: +4.37%

        • DAX: +0.94%

        • CAC: +1.53%

        • MIB: +2.08%

        • Stoxx 600: +4.21%

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