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StreetAccount Summary - EU Market Recap: FTSE 100 +1.21% to 10479.39, DAX (0.53%) to 24856.15, CAC40 (0.18%) to 8313.24, STOXX 600 +0.10% to 621.60

Feb 11 ,2026

  • Synopsis:

    • European equity markets finished mostly mixed. FTSE 100 the big outperformer. DAX lags. Heavy earnings calendar influencing. Energy names, miners and utilities stocks outperform; media, travel/leiusure, financials and tech under pressure. Follows mostly weaker performance on Tuesday.

    • AI disruption fears back in focus with wealth management and brokerage firms latest group hit by AI disruption/competition concerns after Altruist released tax and financial planning tool. Selloff mirrors one that hit software names last week in wake of Anthropic's Claude Cowork plugin announcements.

    • In latest geopolitacal developments, The FT reports Ukraine plans elections and a peace referendum with Russia under U.S. pressure to meet a 15-May deadline. In UK, PM Starmer reaffirmed his leadership on Tuesday after cabinet backing, amid criticism over policies and Mandelson appointment.

    • Macro-data light with just Italy December Industrial Production (0.4%) m/m vs consensus (0.5%) and prior +1.5%.

    • On a busy earning calendar, early focus on energy companies as Siemens Energy (ENR.GR), Aker BP (AKRBP.NO) and TotalEnergies (TTE.FP) all reported Q4 earnings. In the financial sector, ABN AMRO Bank (ABN.NA) and and Commerzbank (CBK.GR) issued Q4 earnings numbers. Amongst Food and Beverages groups, Heineken (HEIA.NA) reported FY earnings , whilst Mowi (MOWI.NO) and Koninklijke Ahold Delhaize (AD.NA) issued Q4 earnings. Focus on Industrials with SGS (SGSN.SW), Schindler Holding (SCHN.SW), and Randstad (RAND.NA) reporting end of year numbers. In HealthCare, Gerresheimer (GXI.GR) is trading sharply lower on the back of the group deferring publication of its FY25 financial statements due to an ongoing investigation initiated by the company, leading to an expected non-cash impairment of ~€220-240M in FY25 and initiation of the sale of its US subsidiary Centor to optimise capital and financing structure this year

    • Looking ahead to tomorrow's EU econ-calendar, notable releases will include, amongst others, UK Q4 preliminary GDP, Jan house price balance - RICS, monthly GDP tracker - NIESR, Dec trade balance, industrial/manufacturing production and construction output.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Oil & Gas +3.78%, Basic Resources +3.02%, Utilities +2.14%, Telecom +1.44%, Real Estate +0.77%, Health Care +0.51%, Food & Beverage +0.48%, Autos & Parts +0.30%, Construct & Mtls +0.20%

      • Underperformers:

        • Media (2.59%), Travel & Leisure (2.36%), Financial Svcs (2.03%), Technology (1.79%), Banks (1.05%), Insurance (1.00%), Retail (0.39%), Chemicals (0.25%), Ind Goods & Svcs (0.08%), Persnl & HHold Goods (0.05%)

    • Macro:

      • Central banks:

        • Lagarde lays out key reforms needed to boost EU resilience, source says -- Reuters

        • Crypto's crash utterly undermines George Osborne's call for a payments revolution -- Telegraph

      • EU:

        • The rise of 'Merzoni': How an alliance between Germany's and Italy's leaders is reshaping Europe -- TheConversation

        • France set to clash with Germany and Italy as EU leaders seek economic boost -- euronews

        • Italy aligns with Germany by cooling on Macron's joint EU debt plan -- Politico

      • UK:

        • UK economy set to have recorded modest growth amid budget concerns -- TheIndependent

        • Rebuilding EU ties 'the biggest prize' for British economy, Reeves says -- Politico

        • OBR under fire for secrecy over economic forecasts -- Telegraph

        • UK first-time buyers too pessimistic about securing a property, study says -- FT

      • Germany:

        • Germany's Gas Refill Season Looks Tough, Market Manager Says -- Bloomberg

      • France:

        • Macron's golden chance to shield France's Central Bank-- Bloomberg

        • Macron's failed bet to achieve full employment by 2027 -- LeMonde

      • Italy:

        • Italy industry output falls in December, but signs long slump is easing -- Reuters

    • Company news:

      • Notable Gainers

        • +57.6% CTM.SS (Catena Media SEK2.99, +1.11) -- FY earnings

        • +25.7% IGR.LN (IG Design Group £0.61, +0.12) -- 9M trading update

        • +16.2% FIA1S.FH (Finnair €3.57, +0.50) -- Q4 earnings

        • +11.6% AD.NA (Koninklijke Ahold Delhaize €38.73, +4.01) -- Q4 earnings

        • +9.8% VBK.GR (Verbio €25.00, +2.28) -- Deutsche Bank upgrade

        • +7.7% PZC.LN (PZ Cussons £0.88, +0.06) -- H1 earnings; CMD update

        • +6.5% WCH.GR (Wacker Chemie €82.40, +5.15) -- Berenberg upgrade

        • +5.8% ALVU.FP (Vente-Unique.com €16.35, +0.90) -- Q1 revenue

        • +5.5% BME.LN (B&M European Value Retail £1.81, +0.10) -- Peel Hunt upgrade

        • +5.0% RSW.LN (Renishaw £40.90, +1.95) -- H1 earnings

        • +4.8% HNSA.SS (Hansa Biopharma SEK38.90, +1.76) -- Q4 earnings

        • +4.7% MT.NA (ArcelorMittal €55.32, +2.48) -- Jefferries upgrade

        • +4.4% HEIA.NA (Heineken €77.90, +3.28) -- FY earnings

        • +4.3% PAF.LN (Pan African Resources $1.43, +0.06) -- 6M trading update

        • +4.1% HEIO.NA (Heineken €70.00, +2.75) -- FY earnings

        • +3.6% BG.AV (BAWAG Group €137.20, +4.80) -- FY earnings

        • +3.2% STB.NO (Storebrand NOK180.20, +5.60) -- Q4 earnings

        • +2.8% SRV1V.FH (SRV Group €5.16, +0.14) -- Q4 earnings

        • +1.8% ENTRA.NO (Entra ASA NOK115.80, +2.00) -- Q4 earnings

        • +1.5% RWS.LN (RWS Holdings £0.82, +0.01) -- trading update

      • Notable Decliners

        • -31.4% GXI.GR (Gerresheimer €18.98, -8.53) -- defers FY results publication; initiates sale of Centor

        • -26.3% RENX.LN (Renalytix £0.04, -0.01) -- H1 trading update

        • -20.8% DSY.FP (Dassault Systemes €18.03, -4.67) -- Q4 earnings

        • -14.7% KAR.SS (Karnov Group SEK64.90, -11.20) -- Q4 earnings

        • -13.4% STJ.LN (St. James's Place £12.51, -1.94) -- Altruist's launch of a tax-planning tool

        • -12.3% IOM.LN (iomart Group £0.17, -0.02) -- CFO steps down

        • -11.6% VP.LN (Vp Plc £4.75, -0.64) -- 10M trading update

        • -10.6% RAND.NA (Randstad €27.48, -3.24) -- Q4 earnings

        • -10.3% SCHP.SW (Schindler Holding CHF283.80, -32.20) -- Q4 earnings

        • -10.0% GCM.LN (GCM Resources £0.09, -0.01) -- places 15.2M new ordinary shares at 8.2p/share to raise ~£1.25M

        • -9.9% GLE.LN (MJ Gleeson £3.60, -0.39) -- H1 earnings

        • -9.8% ASY.FP (Assystem €44.60, -4.70) -- FY revenue

        • -9.3% BFF.IM (BFF Bank SpA €4.45, -0.44) -- FY earnings

        • -8.6% NORBT.NO (Norbit NOK187.00, -17.60) -- Q4 earnings

        • -8.3% NETI.B.SS (Net Insight SEK1.95, -0.17) -- Q4 earnings

        • -8.1% REG1V.FH (Revenio Group €18.28, -1.58) -- Q4 earnings

        • -7.6% BGN.IM (Banca Generali €53.90, -4.40) -- Q4 earnings

        • -7.1% ANORA.FH (Anora Group €4.14, -0.32) -- Q4 earnings

        • -7.1% BOUL.SS (Boule Diagnostics SEK4.47, -0.35) -- Q4 earnings

        • -5.8% SANOMA.FH (Sanoma €9.08, -0.55) -- Q4 earnings

        • -5.7% AMS.SW (ams-OSRAM CHF8.04, -0.49) -- Deutsche Bank downgrade

        • -5.6% MIPS.SS (MIPS SEK283.20, -16.80) -- Q4 earnings

        • -5.3% EOLU.B.SS (Eolus Aktiebolag SEK34.75, -1.95) -- Q4 earnings

        • -5.3% NOBI.SS (Nobia SEK3.66, -0.21) -- SEK1.5B rights issue at SEK 1.78/share

        • -5.2% QLT.LN (Quilter £1.79, -0.10) -- Altruist's launch of a tax-planning tool

        • -5.2% ERA.FP (Eramet €60.30, -3.30) -- JV PT Weda Bay Nickel update

        • -5.1% MUM.GR (Mensch & Maschine Software €40.55, -2.20) -- prelim. FY earnings

        • -4.8% SEE.LN (Seeing Machines £0.04, -0.00) -- Q4 earnings

        • -4.4% QTX.LN (Quartix Technologies £2.83, -0.13) -- updates on FRC Review

        • -4.1% 2020.NO (2020 Bulkers NOK136.00, -5.80) -- Q4 earnings

        • -3.8% SGSN.SW (SGS CHF93.94, -3.72) -- FY earnings

        • -3.4% ATEA.NO (Atea NOK140.80, -5.00) -- Handelsbanken dwongrade

        • -3.1% IMMU.SS (Mendus SEK4.64, -0.15) -- FY earnings

        • -2.9% GFC.FP (Gecina €78.65, -2.30) -- FY earnings

        • -2.7% NOHO.FH (NoHo Partners €7.90, -0.22) -- Q4 earnings

        • -2.4% G.IM (Assicurazioni Generali €34.56, -0.86) -- acquires Swiss Life Network

        • -2.1% WIHL.SS (Wihlborgs Fastigheter SEK92.15, -2.00) -- ABG Sundal Collier downgrade; Pareto downgrade

        • -2.0% RAIVV.FH (Raisio €2.76, -0.06) -- Q4 earnings

        • -2.0% CBK.GR (Commerzbank €33.82, -0.71) -- Q4 earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Austria: DO & CO (DOC.AV)

        • Benelux: Anheuser-Busch InBev (ABI.BB), Fagron (FAGR.BB), KBC Group (KBC.BB), Sipef (SIP.BB), Ontex Group (ONTEX.BB), Adyen (ADYEN.NA), NN Group (NN.NA), DSM-Firmenich (DSFIR.NA), Flow Traders (FLOW.NA)

        • Finland: Metso Corp. (METSO.FH), Orion (ORNBV.FH), Mandatum (MANTA.FH), Kemira (KEMIRA.FH), Hiab (HIAB.FH), Outokumpu (OUT1V.FH), Tietoevry (TIETO.FH), Vaisala (VAIAS.FH), Harvia (HARVIA.FH), Marimekko (MEKKO.FH), Oma Savings Bank (OMASP.FH), Capman (CAPMAN.FH), Pihlajalinna (PIHLIS.FH), Atria (ATRAV.FH), Etteplan (ETTE.FH), Verkkokauppa.com (VERK.FH)

        • France: Hermes (RMS.FP), L'Oreal (OR.FP), Legrand (LR.FP), Unibail-Rodamco-Westfield (URW.FP), Ipsen (IPN.FP), TF1 (TFI.FP)

        • Germany: Siemens (SIE.GR), Mercedes-Benz Group (MBG.GR), Deutsche Börse (DB1.GR), thyssenKrupp (TKA.GR), KWS SAAT (KWS.GR), Carl Zeiss Meditec (AFX.GR), Verbio (VBK.GR), CANCOM (COK.GR)

        • Norway: Orkla (ORK.NO), AutoStore Holdings (AUTO.NO), SpareBank 1 SMN (MING.NO), Veidekke (VEI.NO), TGS-NOPEC Geophysical Co. (TGS.NO), Kitron (KIT.NO), SpareBank 1 Nord-Norge (NONG.NO), Norconsult (NORCO.NO), Aker BioMarine (AKBM.NO), LINK Mobility Group Holding (LINK.NO), Pexip Holding (PEXIP.NO), B2 Impact (B2I.NO), Elmera Group (ELMRA.NO), Solstad Offshore (SOFF.NO), Sea1 Offshore (SEA1.NO), Akastor (AKAST.NO), Axactor (ACR.NO), Komplett (KOMPL.NO), Hexagon Composites (HEX.NO), Nekkar (NKR.NO), ArcticZymes Technologies (AZT.NO), Lumi Gruppen (LUMI.NO), Vistin Pharma (VISTN.NO), Webstep (WSTEP.NO), REC Silicon (RECSI.NO), Electromagnetic Geoservices (EMGS.NO)

        • Other: Íslandsbanki (ISB.IR)

        • Southern Europe: MAPFRE (MAP.SM), Iveco Group (IVG.IM), Elica (ELC.IM)

        • Sweden: Verisure (VSURE.SS), NIBE Industrier (NIBE.B.SS), Camurus (CAMX.SS), Hufvudstaden (HUFV.A.SS), AQ Group (AQ.SS), Lindab International (LIAB.SS), Vimian Group (VIMIAN.SS), INVISIO (IVSO.SS), BioGaia (BIOG.B.SS), Ambea (AMBEA.SS), Embracer Group (EMBRAC.B.SS), Fastpartner (FPAR.A.SS), Volati (VOLO.SS), Instalco (INSTAL.SS), RaySearch Laboratories (RAY.B.SS), Yubico (YUBICO.SS), Nederman Holding (NMAN.SS), MEKO (MEKO.SS), Swedencare (SECARE.SS), Lime Technologies (LIME.SS), Devyser Diagnostics (DVYSR.SS), Genovis (GENO.SS), C-RAD (CRAD.B.SS), Sedana Medical (SEDANA.SS), Nordisk Bergteknik (NORB.B.SS), ProfilGruppen (PROF.B.SS), Ferronordic (FNM.SS), Nilörngruppen (NIL.B.SS), Tradedoubler (TRAD.SS), Precise Biometrics (PREC.SS), Active Biotech (ACTI.SS), Vivesto (VIVE.SS), Alligator Bioscience (ATORX.SS)

        • Switzerland: Swisscom (SCMN.SW), Banque Cantonale Vaudoise (BCVN.SW), Dätwyler Holding (DAE.SW), Bell Food Group (BELL.SW), Glarner Kantonalbank (GLKBN.SW), Leonteq (LEON.SW), Bachem (BANB.SW)

        • UK: British American Tobacco (BATS.LN), RELX (REL.LN), Schroders (SLN), Ashmore Group (ASHM.LN), Carasent (0H9M.LN), Unilever (ULVR.LN)

      • Trading Updates:

        • Benelux: CVC Capital Partners (CVC.NA)

        • DACHs: STRABAG (STR.AV)

        • France: Ubisoft Entertainment (UBI.FP)

  • Data:

    • Economics:

      • Italy Dec Industrial Production +3.2% y/y vs consensus +1.2% and prior +1.4%

    • Markets:

      • WTI Crude (26-Mar): +$1.24 or +1.94% to $65.20

      • €-$ (0.0017) or (0.14%) to 1.1878

      • £-$ +0.0011 or +0.08% to 1.3654

      • €-£ (0.0019) to 0.8701

      • S&P 500 +0.12%

      • Performance year-to-date:

        • FTSE 100: +5.44%

        • DAX: +1.49%

        • CAC: +2.01%

        • MIB: +3.48%

        • Stoxx 600: +4.96%

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