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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open: FTSE +0.1%, DAX +0.1%, CAC unch, IBEX (0.2%), MIB (0.1%)

Feb 16 ,2026

  • Synopsis

    • European equity markets set for a mixed, flattish open. Note that US markets are closed today for Presidents Day. Asia equities trading mixed in thin trading Monday.

    • Last week, European equities ended a choppy week with the Stoxx Europe 600 broadly flat, but UK, Germany and France finished marginally higher. Record highs earlier in the week gave way to rising dispersion amid persistent AI-related volatility and political-driven risk premia in the UK.

    • This week sees Eurozone, France, Germany, UK Feb flash manufacturing/services PMIs, Germany Feb ZEW survey, UK Dec unemployment rate, Jan inflation report as well as earnings/updates from Airbus (AIR.FP), Air France-KLM (AF.FP), Anglo American (AAL.LN), Carrefour (CA.FP), Danone (BN.FP), Glencore (GLEN.LN), InterContinental Hotels Group (IHG.LN), Nestle (NESN.SW), Orange (ORA.FP), Repsol (REP.SM), and Zurich Insurance Group (ZURN.SW).

    • European macro data releases out today include Switzerland preliminary Q4 GDP, Eurozone Dec industrial production, Norway Jan trade balance, Sweden Jan unemployment rate. Main economic data release in Asia was Japan Q4 GDP, which rebounded by less-than-expected amid tepid growth in private consumption and investment.

    • In central banks today, Bundesbank's Nagel speech at 18:40CET at New Years Reception, American Chamber of Commerce. Bank of France's Villeroy speech at conclusion of AEFR conf in Paris. There's also the first of latest ECB Economic Bulletin's pre-releases at 10:00CET as well as Eurogroup meeting, ECB's Lagarde and Cipollone, EU's Albuquerque and Dombrovskis among the participants. In politics, EU Commissioner Tzitzikostas visits Finland (through Tue) whilst an informal 2-day meeting of the EU Employment Committee gets underway.

    • In M&A, Hapag-Lloyd (HLAG.GR) in advanced negotiations regarding potential acquisition of Zim Integrated Shipping Services (ZIM), terms undisclosed; Apax Partners now says it does not intend to make firm offer for Pinewood (PINE.LN); Euronext (ENX.FP) CEO says in FAZ interview that Euronext is by definition a project that is open to mergers. But adds Deutsche Börse (DB1.GR) wants to remain independent, and at the same time Euronext is not for sale.

  • Macro/politics

    • UK Feb Rightmove House Price Index 0.0% m/m vs prior +2.8%

    • UK House Prices Stall as Buyers Enjoy Most Choice in a Decade -- Bloomberg

    • BOE's Mann Says UK Consumers Have Been 'Scarred' by Inflation -- Bloomberg

    • EU tones down criticism of Viktor Orbán ahead of election -- FT

    • Germany vows more defence tech funding after backlash over tanks -- FT

    • Europe's earnings gain pace while lofty valuations cap rewards -- Reuters

  • Top company news

    • Earnings/updates

      • B8FK.GR (Biofrontera AG) -- reports preliminary FY EBITDA €3.5-5M vs prior guidance €1.5-3.5M

      • RATO.B.SS (Ratos) -- reports Q4 EPS from cont ops (SEK5.32) vs year-ago (SEK0.95); hikes divi by 3.7%

      • Also reporting today

        • Earnings:

          • Benelux: Theon International (THEON.NA)

          • DACHs: Sartorius (SRT3.GR)

          • France: Vicat (VCT.FP)

          • Nordics: Aspo (ASPO.FH), Framery Group (FRAMERY.FH)

        • Trading Update:

          • France: Inventiva (IVA.FP)

        • Traffic: Aeroports de Paris (ADP.FP)

    • M&A

      • ZIM (Zim Integrated Shipping Services) -- Hapag-Lloyd in advanced negotiations regarding potential acquisition of Zim Integrated Shipping Services, terms undisclosed

      • PINE.LN (Pinewood Technologies Group) -- Apax Partners now says it does not intend to make firm offer for Pinewood

      • FII.FP (Lisi) -- Peugeot Invest sells the remainder of its stake in LISI for €116M

      • ENX.FP (Euronext) -- CEO talks about the pursuit of a European super stock exchange -- FAZ, citing interview

      • ACKB.BB (Ackermans & Van Haaren) -- announces Mediahuis reaches settlement with Belgian Competition Authority regarding newspaper distribution concession

      • RATO.B.SS (Ratos) -- to divest Elektrosignal Infra and Ratatek; financial terms undisclosed

      • ANTIN.FP (Antin Infrastructure Partners) -- enters into exclusive negotiations with CARAVELLE to acquire Belambra

      • SPIR.NO (Spir Group) -- Bidco Clover announces preliminary result of over 90% of Spir Group ASA's share capital by the end of the offer period under its voluntary cash offer

      • EOLU.B.SS (Eolus Aktiebolag) -- completes sale of the Roccasecca stand-alone battery energy storage project

      • Brewdog exploring sale - Sky News

    • Healthcare

      • NOVN.SW (Novartis) -- FDA approves sNDAs for Leqvio; new patient population (pediatric), new indication (HoFH) for 12 and older

      • SAN.FP (Sanofi) -- Sanofi's Beyfortus study published in The Lancet Infectious Diseases shows benefit for infants beyond first RSV season

      • ROG.SW (Roche Holding) -- Roche Holding's Genentech reports Phase III MAJESTY study meets primary endpoint, showing superior two-year remission with Gazyva in primary membranous nephropathy

      • IRON (Disc Medicine) -- FDA publishes CRL for Disc Medicine's NDA for bitopertin -- FDA website

      • IRON (Disc Medicine) -- Follow-up: FDA publishes CRL for Disc Medicine's NDA for bitopertin

      • GALD.SW (Galderma Group) -- appoints Luigi La Corte as CFO, effective 1-May

      • VLA.FP (Valneva) -- updates on recommendations for use of IXCHIQ in UK

      • 1093.HK (CSPC Pharmaceutical Group) -- receives FDA approval to conduct clinical trials in US with GLP-1/GIP receptor dual-biased agonist polypeptide long-acting injection

      • EGTX.SS (Egetis Therapeutics) -- Egetis Therapeutics' partner Fujimoto Pharmaceuticals has a pre-application consultation for drugs with Japan's PMDA regarding Emcitate

    • Other

      • VOW.GR (Volkswagen) -- planning massive cost-cutting program; aim to cut costs by 20% by the end of 2028 -- Manager magazine

      • SAAB.B.SS (Saab) -- announces MOU with Joint Stock Company "Ukrainian Defense Industry"

      • Estimated weekend box office revenues in US, Canada $118.3M, (23.2%) y/y - Box Office Mojo

  • Key rating changes

    • Upgrades

      • ACS.SM (ACS SA) -- to buy at Jefferies

      • ALK.B.DC (ALK-Abello) -- to buy from hold at DNB Carnegie

      • KNEBV.FH (Kone) -- to buy from hold at Deutsche Bank

    • Downgrades

      • NHY.NO (Norsk Hydro) -- to hold from buy at Pareto

      • NHY.NO (Norsk Hydro) -- to sell from neutral at Goldman Sachs

      • SDR.LN (Schroders) -- to sector perform from outperform at RBC Capital Markets

      • FTK.GR (flatexDEGIRO) -- to neutral from outperform at BNP Paribas Exane

      • SMCRT.NO (SmartCraft) -- to hold from buy at DNB Carnegie

    • Other Actions

      • AUSS.NO (Austevoll Seafood) -- assumed buy at Pareto

  • Data

    • Nikkei (0.24%) to 56806.41

    • Hang Seng +0.52% to 26705.94

    • Shanghai Composite +0.00% to 4082.07

    • S&P futures +11.3 vs prior close of 6850.5

    • €-$ (0.0005) or (0.04%) to 1.1868

    • $-¥ +0.48 or +0.32% to 153.14

    • €-¥ +0.53 or +0.29% to 181.76

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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