Feb 13 ,2026
Synopsis
European indices are set to open mixed as Asian equities trade mostly lower Friday. Japan's main benchmarks gapping lower at the open but many stocks off their troughs. Hang Seng sharply lower and heading for a flat week, mainland benchmarks down.
US equities were lower in Thursday trading, as stocks reversed earlier gains and ended near worst levels. Followed a mixed performance for stocks on Wednesday with major averages now all on track for weekly declines of over 1%
Friday sees, in central banks, Riksbank's Jansson speech ay 8:00CET at event hosted by the bank title 'about the value and challenges of communicating about monetary policy in uncertain times'. ECB's de Guindos lecture at 11:00CET at Academia Europea Leadership and remarks and Q&A at 13:00 at Círculo de Confianza by Foment de Trebal.
Economic data today: Spain Jan final CPI, Switzerland Jan CPI, Eurozone Q4 GDP (2nd est), Feb trade balance
Yesterday after the close: (OR.FP) L'Oreal reports FY adjusted EPS €12.71 vs StreetAccount €12.86
Earnings reported so far today: FAA.GR Fabasoft, HEIJM.NA HeijmansSynopsis, FING.B.SS Fingerprint Cards, TOM.NO Tomra Systems, SAF.FP Safran, CAP.FP Capgemin, NHY.NO Norsk Hydro
Top company news
Earnings/updates
SAF.FP (Safran) -- reports FY net income attributable €3.17B vs FactSet €3.44B [13 est, €2.93-3.62B]; raises 2028 ambitions
OR.FP (L'Oreal) -- reports FY adjusted EPS €12.71 vs StreetAccount €12.86
UBI.FP (Ubisoft Entertainment) -- reports Q3 revenue €318.4M vs FactSet €363.6M [5 est, €309-528M]
CAP.FP (Capgemini) -- reports FY EPS €12.95 ex-items vs FactSet €11.69 [17 est, €10.28-12.54]
NHY.NO (Norsk Hydro) -- reports Q4 adjusted EPS NOK0.70 vs consensus NOK0.73
GNFT.FP (GENFIT) -- to receive $20M milestone after Ipsen's Iqirvo exceeds the $200M threshold in its first full year of net sales
TOM.NO (Tomra Systems) -- reports Q4 ADj EPS €0.15 vs FactSet €0.14 [8 est, €0.12-0.18]
TFI.FP (TF1) -- reports Q4 net income €30M, (50%) vs year-ago €60M
KESKOB.FH (Kesko) -- reports Jan sales from continuing operations €970.6M, +0.8% in comparable terms
RBT.FP (Robertet) -- reports FY revenue €843.9M vs FactSet €841.5M [5 est, €834.6-849M]
MOBN.SW (Mobimo Holding) -- reports FY net income CHF192.9M vs FactSet CHF179.3M [3 est, CHF165.5-187M]
BOUV.NO (Bouvet) -- reports Q4 EPS NOK0.69 vs FactSet NOK0.77 [3 est, NOK0.70-0.81]
M&A
AAL.LN (Anglo American) -- revives sale process for A$5B+ Queensland coal mines - The Australian
SIKA.SW (Sika Group) -- to acquire manufacturer of adhesives and sealants Akkim; terms undisclosed
ITV.LN (ITV) -- Comcast's $2.2B ITV tie-up talks have slowed amid macro concerns and challenges related to a Studios spin - Reuters
LKOH.RU (Lukoil) -- Midad Energy signs term sheet to acquire sanctioned Lukoil assets - Reuters
GF.SW (Georg Fischer) -- completes previously announced divestment of GF Casting Solutions' automotive business to Nemak
KIN.BB (Kinepolis Group) -- Kinepolis completes acquisition of American movie theatre chain Emagine Entertainment
SPA.LN (1Spatial) -- VertiGIS and 1Spatial provides update on the letters of intent
Other
PUB.FP (Publicis Groupe) -- announces execution of a €175M share buyback agreement
BA.LN (BAE Systems) -- awarded ceiling $145.0M USAF contract
NXT.LN (Next) -- announces share repurchase program
WRT1V.FH (Wartsila) -- Transcript Intelligence: Wartsila Business Update Call
FGR.FP (Eiffage) -- wins construction contracts for infrastructure for two onshore wind farms in Spain
ADP.FP (Aeroport de Paris) -- provides update on French Transport Regulatory Authority's decision not to approve pricing proposal; previous charges to remain in force
AF.FP (Air France-KLM) -- warns it will be forced to reduce close to half its flights to Asia unless EU pares back SAF policies - FT, citing CEO
OVH.FP (OVHCloud) -- announces that the publication of H1 20226 results has been brought forward to 9-Apr-26, instead of 16-Apr-26 as initially planned.
Geely, BYD, and VinFast are final bidders for Nissan-Mercedez Benz plant in Mexico - Bloomberg (earlier)
Mobimo Holding publishes Sustainability Report 2025
Venezuela reportedly plans to award more oil exploration and production blocks to Chevron and Repsol - Bloomberg
Key rating changes
Upgrades
AQ.SS (AQ Group) -- to buy from hold at Pareto
DOC.AV (DO & CO) -- to buy from hold at Kepler Cheuvreux
TPE.GR (PVA TePla) -- to neutral from underperform at BNP Paribas Exane
Downgrades
HM.B.SS (H&M Hennes & Mauritz) -- to underweight from equal weight at Barclays
RWE.GR (RWE) -- to market perform from outperform at Bernstein
NIBE.B.SS (NIBE Industrier) -- to hold from buy at DNB Carnegie
VER.AV (Verbund) -- to reduce from hold at Kepler Cheuvreux
ENTRA.NO (Entra ASA) -- to hold from buy at Pareto
Data
Nikkei (0.98%) to 57075.13
Hang Seng (1.91%) to 26515.09
Shanghai Composite (1.03%) to 4091.57
S&P futures (18.8) vs prior close of 6851.0
€-$ (0.0014) or (0.12%) to 1.1858
$-¥ +0.53 or +0.35% to 153.2
€-¥ +0.39 or +0.22% to 181.70
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