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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.4%, DAX +0.3%, CAC +0.3%, IBEX +0.7%, MIB +0.4%

Feb 09 ,2026

  • Synopsis

    • European equity markets set to open broadly higher, extending last week's gains. Recall the Stoxx Europe 600 navigated a turbulent few days dominated by AI disruption fears and central bank policy decisions, but still managed to post another record close, up 1.00% on the week. Software and digital sectors suffered the worst rotation since 2008. The BoE held the Bank Rate at 3.75% but delivered a dovish tilt, and the ECB held rates unchanged for a fifth consecutive meeting, maintaining its data-dependent stance

    • This week's agenda sees an informal EU leaders' retreat, Munich Security Conf, OPEC and IEA monthly oil market reports, Eurozone Q4 GDP (2nd est.), UK Q4 preliminary GDP, Dec industrial/manufacturing production as well as earnings/updates from Ahold Delhaize (AD.NA), AB 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).

    • European macro data releases out today include Switzerland Jan consumer confidence - SECO, Norway Q4 GDP, Jan PPI, Denmark Dec trade balance, Eurozone Feb Sentix economic index

    • Focus on UK political situation as Morgan McSweeney quit as the prime minister's chief of staff on Sunday, saying he takes "full responsibility" for advising the PM to appoint Peter Mandelson as US ambassador last year. UK PM Keir Starmer will address Labour MPs in private at the weekly Parliamentary Labour Party meeting on Monday as he fights to shore up his premiership (BBC)

    • On the corporate front, focus on M&A headlines as Advent, FedEx, A&R and PPF announce recommended all-cash €15.60/share offer for all InPost shares; values InPost at ~€7.8B; meanwhile, DSM-Firmenich (DSFIR.NA) to divest Animal Nutrition & Healthbusiness to CVC Capital Partners for enterprise value of ~ €2.2B including earnout of up to €0.5B. dsm-firmenich will retain a 20% equity stake in the divested ANH Companies, in partnership with CVC; intends to launch a new share repurchase program to buy back ordinary shares with an aggregate market value of €0.5B.

    • On the earnings front, UniCredit (UCG.IM) reports Q4 net income €1.83B vs consensus €1.74B and guides FY26-FY28.

    • In central banks, ECB's Lane lecture at 12noon GMT at Maynooth Univ and ECB's Lagarde in EP plenary debate at 17:00CET on the state of the EU economy and ECB activities. Elsewhere, Bundesbank's Nagel panellist at 17:00CET at event hosted by Institut für Finanzwirtschaft,. Banken und Versicherungen and BOE's Mann panellist at 19:30GMT and 22:15 at event in California. Lithuania central bank's Šimkus speech in Vilnius. In the UK, MPs hold a general debate on the UK-India free trade agreement. Norway's minister of fisheries and the oceans Næss to meet with Seafood Norway on the framework conditions for the seafood industry.

  • Politics/Macro/World News

    • UK

      • Starmer battling for survival after his chief of staff resigns -- Sky News

      • Keir Starmer faces crunch week in battle to hold on to power -- FT

      • Nigel Farage tries to fix his Russia problem -- POLITICO

      • UK Jobs Market Is Moving Past the Worst, Recruiters Say -- Bloomberg

    • Spain

      • Spain's Ruling Party Suffers Second Ballot Loss in Two Months -- Bloomberg

    • Portugal

      • Landslide win for centre-left candidate António José Seguro in Portugal's presidential runoff - DN

    • Digital euro

  • Top company news

    • Earnings/updates

      • UCG.IM (UniCredit) --

        • reports Q4 net income €1.83B vs consensus €1.74B; guides FY26-FY28

        • releases presentation material in connection with Q4 earnings, FY26-28 ambition building into 2030 ultimate aim

      • IBE.SM (Iberdrola) -- reports provisional Q4 total electricity production 32,374 GWh, +2.7% y/y

      • SWON.SW (SoftwareONE Holding) -- reports prelim FY revenue CHF1.24B vs FactSet CHF1.29B [10 est, CHF1.21-1.50B]; confirms FY25 guidance for adjusted EBITDA margin above 20% on combined like-for-like basis.

      • ENX.FP (Euronext) -- Jan trading activity

      • BAKKA.NO (Bakkafrost) -- reports Q4 operational EBIT DKK295M vs FactSet DKK321.6M [13 est, DKK262-387.8M]

      • Also reporting today

        • Earnings:

          • 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

    • M&A

      • DSFIR.NA (DSM-Firmenich) -- to divest Animal Nutrition & Healthbusiness to CVC Capital Partners for enterprise value of ~ €2.2B including earnout of up to €0.5B; intends to launch a new share repurchase program to buy back ordinary shares with an aggregate market value of €0.5B

      • INPST.NA (InPost) -- Advent, FedEx, A&R and PPF announce recommended all-cash €15.60/share offer for all InPost shares; values InPost at ~€7.8B

      • NWG.LN (NatWest Group) -- NatWest in advanced talks to acquire Evelyn Partners for £2.5-3B - Sky News

      • AAK.SS (AarhusKarlshamn) -- EU sets a provisional deadline of 13-Mar to rule on AAK's JV with Kuala Lumpur Kepong

      • Namibia says TotalEnergies, Petrobras didn't follow procedure for Luderitz Basin purchases - Reuters

    • Healthcare

      • SAN.FP (Sanofi) -- Sanofi's rilzabrutinib designated breakthrough therapy in the US and orphan drug in Japan for the treatment of warm autoimmune hemolytic anemia

      • ROG.SW (Roche Holding) -- Genentech presents new late-breaking data from FENtrepid study of fenebrutinib

      • HIMS (Hims & Hers Health) -- to stop offering compounded semaglutide pill on its platform - post on X

      • BAYN.GR (Bayer AG) -- EPA announces new registration enabling Bayer to launch Strayax dicamba herbicide for 2026 season

      • BIOA.B.SS (BioArctic) -- announces BLA for subcutaneous formulation of Leqembi designated for Priority Review in China

    • Other

      • WPP.LN (WPP Group) -- WPP preparing to bring three units under one banner as part of strategic overhaul amid AI threat - FT

      • STMPA.FP (STMicroelectronics) -- secures multi-billion-dollar strategic engagement with AWS across cloud and semiconductor technologies

      • RYA.ID (Ryanair Holdings) -- provides commentary on decision of Walloon Govt; to operate full Charleroi summer schedule and grow traffic by +9%

      • OCDO.LN (Ocado Group) -- Ocado planning to cut up to 1000 jobs - Sunday Times

      • GLE.FP (Societe Generale) -- announces completion of €1B share buy-back program

      • BWLPG.NO (BW LPG) -- secures three-year time charter-out contracts for two VLGCs

      • Estimated weekend box office revenues in US, Canada $60.8M, +12% y/y - Box Office Mojo

  • Key rating changes

    • Upgrades

      • DNLM.LN (Dunelm Group) -- to buy from hold at Jefferies

      • G24.GR (Scout24) -- to buy from neutral at UBS

      • VALMT.FH (Valmet) -- to buy from hold at SEB

    • Downgrades

      • ULVR.LN (Unilever) -- to hold from buy at Deutsche Numis

      • PRY.IM (Prysmian) -- to hold from buy at Deutsche Bank

      • TYRES.FH (Nokian Renkaat) -- to hold from buy at SEB

      • GRG.LN (Greggs) -- to hold from buy at Jefferies

      • VWS.DC (Vestas Wind Systems) -- to hold from buy at Kepler Cheuvreux

      • SKA.B.SS (Skanska) -- to sell from hold at Handelsbanken

    • Initiations

      • ELUX.B.SS (Electrolux) -- re- neutral at UBS

    • Other Actions

      • ATG.LN (Auction Technology Group) -- reinstated overweight at JPMorgan; prior rating was overweight

  • Data

    • Nikkei +3.89% to 56363.94

    • Hang Seng +1.95% to 27076.71

    • Shanghai Composite +1.30% to 4118.53

    • S&P futures +4.5 vs prior close of 6952.8

    • €-$ +0.0037 or +0.31% to 1.1852

    • $-¥ (0.64) or (0.41%) to 156.46

    • €-¥ (0.16) or (0.09%) to 185.44

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

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