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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: Futures FTSE +0.21%, DAX +0.23%, CAC40 (0.04%)

Feb 11 ,2026

  • Synopsis

    • European equity markets are set for a mostly higher open amidst mostly higher Asia equities Wednesday. Strong gains for Australia after its largest bank posted above-forecast earnings. South Korea stocks higher again, Taiwan also seeing strong gains in its big tech stocks. Greater China mixed, as Hong Kong advances but Shanghai is slightly underwater. India flat, Southeast Asia edging higher. Japan closed for a holiday. US futures higher.

    • In Germany, the Expert Commission on Research and Innovation will present its 2026 annual report to Chancellor Merz at 12noon CET, the Chancellor later attending/speaking at European Industry Summit in Antwerp, other attendees/speakers at the Summit include EU's von der Leyen and Ribera. In the UK, after MPs questions on Northern Ireland, there's weekly PMQs at 12noon GMT whilst committee topics include business rates at 9:45, drought preparedness at 10:00, the same time as growth and proposed regulation of stablecoins in the UK and work of the Dept for Energy Security and Net Zero at 13:30.

    • OPEC monthly oil market report due to be released.

    • In central banks, Bundesbank's Köhler-Geib gives a speech at 10:05CET at Frankfurt Digital Finance (through Thu), ECB's Cipollone fireside chat at 11:20. Riksbank's Seim speech at 10:10CET at seminar hosted by SIDA. ECB's Buch delivers opening remarks at 16:30CET, Tuominen closing remarks at 18:50 at Residential Policy Workshop and ECB's Schnabel delivers a lecture at 18:00 at the Austrian Academy of Sciences.

    • Macro data due include Italy Dec industrial production and Portugal Jan final CPI.

    • A busy morning for earnings kicked off with companies from the Benelux region reporting, including Heineken (HEIA.NA) reporting FY EPS (beia) €4.78 vs consensus €4.66 and anticipates FY26 operating profit to grow +2-6%, ABN AMRO Bank (ABN.NA) reporting Q4 net income €410M vs consensus €477M as well as Randstad (RAND.NA), Alfen (ALFEN.NA) and Ahold Delhaize (AD.NA). In the DACHs region, Siemens Energy (ENR.GR), Gerresheimer (GXI.GR), Schindler Holding (SCHN.SW) and Voestalpine (VOE.AV) are out with results. From the Nordics, Mowi (MOWI.NO), Aker BP (AKRBP.NO), Storebrand (STB.NO) and Sweco (SWEC.B.SS) reported Q4.

    • Elsewhere, Dassault Systemes (DSY.FP) reported Q4 EPS €0.40 vs consensus €0.41 and guides Q1 and FY26

  • Politics/Macro/World News

    • Swedish PM 'very sceptical' of French push to Buy European - FT

    • Streeting still ready to challenge Starmer despite show of unity, allies say - Guardian

  • Top company news

    • Earnings/updates

      • Benelux:

        • HEIA.NA (Heineken) -- reports FY EPS (beia) €4.78 vs consensus €4.66; anticipates FY26 operating profit to grow +2-6%

        • ABN.NA (ABN AMRO Bank) -- reports Q4 net income €410M vs consensus €477M; additional €500M capital distribution

        • RAND.NA (Randstad) -- reports Q4 adj net income €135M vs consensus €117M; Q1 gross margin expected to be stable sequentially

        • ALFEN.NA (Alfen) -- reports FY adjusted EBITDA €25.5M vs FactSet €25.9M [9 est, €23.3-28.6M]

        • AD.NA (Koninklijke Ahold Delhaize) -- reports Q4 underlying EPS €0.73 vs consensus €0.67; hikes divi by 6% and guides FY26

      • DACHs:

        • ENR.GR (Siemens Energy) -- reports Q1 EPS €0.79 vs FactSet €0.83 [6 est, €0.76-0.93]; confirms FY guidance

        • GXI.GR (Gerresheimer) -- defers publication of FY25 financial statements; expects non-cash impairments of ~€220-240M in FY25; initiates sale of Centor

        • SGSN.SW (SGS) -- reports FY EPS CHF3.48 vs year-ago CHF3.10

        • SCHN.SW (Schindler Holding) -- reports Q4 EPS CHF2.44 vs consensus CHF2.43

        • TKA.AV (Telekom Austria) -- reports Q4 net income €145M vs consensus €155M; hikes divi by 5% and guides FY26

        • WAC.GR (Wacker Neuson) -- reports preliminary FY 2025 results

        • 1SXP.GR (SCHOTT Pharma) -- reports Q1 EPS €0.22 vs FactSet €0.18 [3 est, €0.17-0.18]; Reaffirms outlook for the 2026 financial year

        • BG.AV (BAWAG Group) -- reports FY EPS €10.87 vs FactSet €10.59 [12 est, €10.23-10.94]; updates targets

        • CEC.GR (CECONOMY) -- reports Q1 EPS €0.40 vs year-ago €0.39

        • NCH2.GR (thyssenkrupp nucera) -- reports Q1 EPS (€0.02) vs FactSet €0.01 [2 est, (€0.01)-0.02]

        • DOU.GR (Douglas) -- reports Q1 net income €144.8M vs FactSet €150.5M [2 est, €140.9-160M]; revenues, adj. EBITDA margin in line with prelims; FY 2025/26 guidance unchanged

        • VOE.AV (Voestalpine) -- reports Q3 EPS €0.35 vs consensus €0.44; reaffirms FY EBITDA guidance range

      • France:

        • DSY.FP (Dassault Systemes) -- reports Q4 EPS €0.40 vs consensus €0.41; guides Q1 and FY26

        • GFC.FP (Gecina) -- reports FY EPRA NTA per share €144.1 vs year-ago €142.0

        • PIG.FP (Haulotte Group) -- reports preliminary FY revenue €512M vs FactSet €504.3M [4 est, €494.0-514M]

        • ALVU.FP (Vente-Unique.com) -- reports Q1 revenue €56.0M, +12% vs year-ago €50.1M

      • Nordics:

        • MOWI.NO (Mowi) -- reports Q4 EPS €0.26 ex-items vs FactSet €0.28 [13 est, €0.23-0.38]

        • HNSA.SS (Hansa Biopharma) -- reports Q4 EPS (SEK1.62) vs FactSet (SEK1.63) [1 est]

        • AKRBP.NO (Aker BP) -- reports Q4 EPS ($0.23) vs FactSet $0.50 [11 est, $0.21-0.74]

        • KOJAMO.FH (Kojamo) -- reports Q4 FFO €0.14 vs FactSet €0.14; announces updated strategy and new financial targets for strategy period 2026-28

        • ENTRA.NO (Entra ASA) -- reports Q4 EPRA NTA 169 vs FactSet 169.30

        • SBO.NO (Selvaag Bolig) -- reports Q4 EPS NOK1.37 vs FactSet NOK1.07 [3 est, NOK0.93-1.20]

        • WAWI.NO (Wallenius Wilhelmsen) -- reports Q4 EPS $0.37 vs FactSet $0.47 [8 est, $0.39-0.55]

        • NORBT.NO (Norbit) -- reports Q4 EPS NOK2.05 vs FactSet NOK2.81 [3 est, NOK2.76-2.87]

        • SGKN.SW (St. Galler Kantonalbank) -- reports FY net income CHF227.0M vs FactSet CHF225.6M [1 est] (

        • TAALA.FH (Taaleri) -- reports Q4 EPS €0.07 vs FactSet €0.06 [3 est, (€0.01)-0.13]

        • NOHO.FH (NoHo Partners) -- reports Q4 EPS €0.27 vs FactSet €0.26 [4 est, €0.25-0.27], cuts dividend; guides 2026

        • SWEC.B.SS (Sweco) -- reports Q4 EPS SEK1.84 vs FactSet SEK1.95 [6 est, SEK1.84-2.09]

        • NETI.B.SS (Net Insight) -- reports Q4 EPS (SEK0.01) vs year-ago SEK0.03

        • MIPS.SS (MIPS) -- reports Q4 EPS SEK1.33 vs FactSet SEK1.49 [6 est, SEK1.31-1.66]

        • SANOMA.FH (Sanoma) -- reports Q4 EPS (€0.20) ex-items vs FactSet (€0.20) [6 est, (€0.25)-(0.16)]

        • RAIVV.FH (Raisio) -- reports Q4 comparable EPS €0.03 vs FactSet €0.03 [5 est, €0.03-0.04]; hikes divi by ~7% and guides FY26

        • KID.NO (Kid) -- reports Q4 EPS NOK5.47 vs FactSet NOK6.13 [4 est, NOK5.80-6.60]

        • STB.NO (Storebrand) -- reports Q4 EPS NOK2.88 vs consensus NOK2.60; proposes +15% dividend increase for 2025 and buybacks of NOK 2B in 2026

        • COOR.SS (Coor Service Management Holding) -- reports Q4 EPS SEK0.60 vs FactSet SEK1.07 [2 est, SEK1.00-1.13]

        • ANORA.FH (Anora Group) -- reports Q4 comparable EPS €0.24 vs FactSet €0.24 [5 est, €0.23-0.26]

        • SRV1V.FH (SRV Group) -- reports Q4 EPS €0.99 vs FactSet €1.23 [2 est, €1.08-1.38]; no divi and guides FY26

        • SITOWS.FH (Sitowise Group) -- reports Q4 adjusted EBITA €2.2M vs FactSet €2.2M

        • KAR.SS (Karnov Group) -- reports Q4 EBITA SEK172.4M ex-items vs FactSet SEK175.8M; intends to increase share buy back mandate

        • PRFO.SS (Profoto Holding) -- adjusts its financial targets downward; divi policy remains unchanged

      • Southern Europe:

        • BFF.IM (BFF Bank SpA) -- reports FY adjusted net income €151.7M vs FactSet €150.1M

    • M&A

      • SLHN.SW (Swiss Life Network) -- Generali agrees to acquire Swiss Life Network

      • KOJAMO.FH (Kojamo) -- agrees to acquire housing portfolio and issues special rights entitling to shares

      • SHEL.LN (Shell Plc) -- Shell seeking to divest its 25.1% stake in Corporate Carbon - Australian Financial Review

      • AVDL (Avadel Pharmaceuticals) -- announces outcome of the court sanction hearing

      • UMG.NA (Universal Music Group) -- EU set to approve Universal Music Group's acquisition of Downtown Music this week - FT

      • GXI.GR (Gerresheimer) -- defers publication of FY25 financial statements; expects non-cash impairments of ~€220-240M in FY25; initiates sale of Centor

      • KBC.BB (KBC Group) -- finalises acquisition of Business Lease Czech Republic and Slovakia

      • LKOH.RU (Lukoil) -- TotalEnergies takes full ownership of Zeeland refinery as it re-acquires remaining 45% stake owned by Lukoil - Reuters

    • Healthcare

      • NOVN.SW (Novartis) -- FDA grants orphan drug designation to Novartis for treatment of progressive supranuclear palsy

      • GMAB.DC (Genmab) -- FDA grants orphan drug designation to zenocutuzumab for the treatment of cholangiocarcinoma

      • GALD.SW (Galderma Group) -- launches Japan's first OBT-based hyaluronic acid Injectables with Restylane Defyne and Refyne

      • FYB.GR (Formycon) -- Lotus Pharmaceutical concludes exclusive license agreement for Formycon's FYB206; terms undisclosed

    • Other

      • SINCH.SS (Sinch) -- announces strategic partnership with Lovable to power communications for AI-native applications

      • ETL.FP (Eutelsat) -- signs almost ~€1B in export credit agency financing for procurement of Leo satellites for its OneWeb constellation

      • SKA.B.SS (Skanska) -- to replace Vincent Thomas Bridge deck in Los Angeles, USA, for $320M (~SEK 2.9B)

      • STLAM.IM (Stellantis) -- discussing exit from battery JV with Samsung SDI in face of growing EV losses - Bloomberg

      • PHIA.NA (Koninklijke Philips) -- Transcript Intelligence: Koninklijke Philips Capital Markets Day

      • SAF.FP (Safran) -- Safran's Avox Systems awarded $10.5M Defense Logistics Agency contract

      • SAN.SM (Banco Santander) -- announces changes to the presentation of the group's information

      • TUI1.GR (TUI Group) -- Street Takeaways - TUI Group Q1 Earnings

      • ACLN.SW (Accelleron Industries) -- To accelerate board renewal, Accelleron chair Oliver Riemenschneider to not stand for re-election at 2026 AGM

      • VAR.NO (Vår Energi) -- Transcript Intelligence: Vår Energi Capital Markets Day

      • CO.FP (Casino Guichard-Perrachon) -- provides update on financial structure adaptation/strengthening project

      • TGS.NO (TGS-NOPEC Geophysical Co.) -- TGS announces multi client 2D survey offshore Angola

      • Boeing January orders +107 gross, +103 net, deliveries of 46:

      • Palantir Technologies and Airbus extend strategic collaboration

      • Syria planning to award exploration licenses to Chevron, ConocoPhillips, TotalEnergies and Eni to explore significant reserves of undiscovered oil and gas - FT

  • Key rating changes

    • Upgrades

      • AMS.SW (ams-OSRAM) -- hold from reduce at Kepler Cheuvreux

      • BME.LN (B&M European Value Retail) -- to buy from add at Peel Hunt

      • DNLM.LN (Dunelm Group) -- to overweight from neutral at JPMorgan

      • FEVR.LN (Fevertree Drinks) -- to overweight from equal weight at Barclays

      • MT.NA (ArcelorMittal) -- to buy from hold at Jefferies

      • WCH.GR (Wacker Chemie) -- to buy from hold at Berenberg

      • WIHL.SS (Wihlborgs Fastigheter) -- to buy from hold at Pareto

    • Downgrades

      • NLFSK.DC (Nilfisk Holding) -- hold from buy at Nordea

      • MULTI.NO (Multiconsult) -- hold from buy at Nordea

      • UNI.SM (Unicaja Banco) -- hold from buy at Kepler Cheuvreux

      • SATS.NO (SATS) -- hold from buy at Kepler Cheuvreux

      • COLO.B.DC (Coloplast) -- to hold from buy at Equita (earlier, timing uncertain)

      • AMS.SW (ams-OSRAM) -- to hold from buy at Deutsche Bank

      • IPCO.SS (International Petroleum Corp) -- to hold from buy at DNB Carnegie

      • ATEA.NO (Atea) -- to hold from buy at Handelsbanken

      • WIHL.SS (Wihlborgs Fastigheter) -- to hold from buy at ABG Sundal Collier

    • Initiations

      • EN.FP (Bouygues) -- outperform at BNP Paribas Exane

  • Data

    • Nikkei closed

    • Hang Seng +0.32% to 27269.09

    • Shanghai Composite +0.14% to 4134.21

    • S&P futures +13.3 vs prior close of 6961.5

    • €-$ +0.0023 or +0.19% to 1.1918

    • $-¥ (1.33) or (0.86%) to 153.06

    • €-¥ (1.28) or (0.70%) to 182.37

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.
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