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Back to Daily DR Market Summary

StreetAccount Summary - Europe Pre-Open:Futures: FTSE (0.16%), DAX (0.37%), CAC40 (0.34%)

Feb 17 ,2026

  • Synopsis

    • European equity markets are set to open lower, following a mixed performance on Monday. Asian equity markets mixed on Tuesday in holiday thin trade. Nikkei underperforms, ASX up, Sensex a bit higher. Other Asian indices closed for LNY. US equity futures under pressure, with S&P down 0.5%.

    • No change in market narrative. Investors continue to evaluate potential AI disruption risk. Has been the catalyst for rotation in Europe, with financials a beneficiary. Defense also performing well as European leaders continue to talk up defense spending ambitions. Concentration risk also less pronounced across region. Other supportive factors include positive macro surprises (softer inflation, growth holding up). Analysts have talked up earning expectations.

    • On today's agenda, France's President Macron begins an official three-day visit to India. Elsewhere, EU's Kadis opening remarks at the High-level Conf, Navigating Change: Towards the Energy Transition in the EU Fisheries and Aquaculture

    • In central banks, Riksbank's Thedéen speech at 9:25CET before parliamentary committee's open hearing on the evaluation of Swedish monetary policy 2015-24, Bank of Spain's Escrivá speech at 10:30CET at VI Observatorio de las Finanzas, with Bundesbank's Mauderer speech at 17:30CET at event in Frankfurt and Balz panellist at 18:00 at event organised by FinTech Stammtisch. Also Ireland central bank's Makhlouf speech at 17:30GMT at Blavatnik School of Government. ECOFIN meeting, ECB's de Guindos, EU's Albuquerque and Dombrovskis among the participants.

    • Macro focus on UK labor market data ahead of tomorrow's key inflation update. ZEW surveys for Germany and Eurozone due. Germany to publish final CPI data. Meanwhile, analysis circulating that shows UK Chancellor Reeves has benefited from drop in UK debt interest costs since November budget. 10-year Gilt has fallen over 25 bps since late last year. UK government wants to relax stock market rules to encourage listing of Chinese firms.

    • In corporate news, BHP Group (BHP.LN) shares up over 4% in Australia as EPS & dividend ahead; copper strength offset weaker coal performance; silver streaming sale viewed positively. In the DACH region, DKSH Holding (DKSH.SW) and Basilea Pharmaceutica (BSLN.SW) reported FY earnings this morning, with the latter also issuing its agenda for 2030 indicating it expects to add CHF 600M in cumulative cash flows from Cresemba and Zevtera. Expect pressure on Flughafen Zurich (FHZN.SW) shares as airport tariffs have been cut by more than expected. In France, Aeroport de Paris (ADP.FP) released January traffic figures, whilst Vicat (VCT.FP) reported FY earnings. In Nordics, Sinch (SINCH.SS), Hacksaw (HACK.SS), and Truecaller (TRUE.B.SS) are amongst others in the region to update investors with their latest numbers. Also due to report today includes, Coca-Cola Europacific Partners (CCEP.NA), Carrefour (CA.FP), Antofagasta (ANTO.LN), and InterContinental Hotels Group (IHG.LN).

  • Politics/Macro/World News

    • Keir Starmer abandons plan to delay council elections - The Times

    • UK quietly shelves £110mn frictionless post-Brexit trade border project - FT

    • Land in focus at Geneva peace talks between Russia and Ukraine - Reuters

    • UK bank bosses plan to set up Visa and Mastercard alternative amid Trump fears - The Guardian

    • Trump says he will be 'indirectly' involved in Iran nuclear talks - BBC

  • Top company news

    • Earnings/updates

      • DACHs

        • DKSH.SW (DKSH Holding) -- reports FY core Profit after tax CHF226.4M vs consensus CHF228.9M

        • ALSN.SW (ALSO Holding) -- reports FY net income attributable €109.3M vs FactSet €138.5M [3 est, €137.3-139.2M]

        • BSLN.SW (Basilea Pharmaceutica) -- reports FY net income CHF40.2M vs FactSet CHF40.5M [5 est, CHF37.1-45.4M]; guides FY26

        • NOEJ.GR (Norma Group) -- reports prelim FY adj EBIT €6.3M vs year-ago €33M; FY26 outlook to be released on 31-Mar

        • OBCK.GR (Ottobock SE & Co. KGaA) -- reports prelim. FY adj EBITDA €420.7M; guides 2026, reaffirms medium-term expectation

        • DR0.GR (Deutsche Rohstoff AG) -- issues Q4 operational update; US Oil & Gas developments on track for 2026

      • France

        • ADP.FP (Aeroport de Paris) -- reports Total Paris Aeroport January traffic 29.5M, +5.0% y/y

        • VCT.FP (Vicat) -- reports FY net income group share €275M vs FactSet €267.7M [5 est, €250.1-286M]

        • POXEL.FP (Poxel) -- reports FY revenue €5.0M vs year-ago €6.6M

      • Southern Europe

        • THEON.NA (Theon International) -- reports Q4 revenue €164.2M vs FactSet €160.8M [3 est, €156-165.7M]

      • Nordics

        • EG7.SS (Enad Global 7) -- reports Q4 Adjusted EPS (SEK3.88) vs FactSet (SEK0.11) [1 est]

          • announces non-cash impairment of intangible assets of SEK 2.05B for 2025, decreasing the annual amortization of SEK 120M in 2026 and forward

        • CAT.B.SS (Catella) -- reports Q4 EPS (SEK0.69) vs FactSet SEK0.69 [1 est]

        • G5EN.SS (G5 Entertainment) -- reports Q4 EPS (SEK0.28) vs FactSet SEK1.45 [2 est, SEK0.90-2.00] (unclear if comparable)

        • NRC.NO (NRC Group) -- reports Q4 EPS NOK0.02 vs FactSet NOK0.07 [3 est, NOK0.06-0.09]

        • SINCH.SS (Sinch) -- reports FY net income SEK217M vs FactSet SEK113.8M [11 est, (SEK72)-278.8M]

        • TRUE.B.SS (Truecaller) -- reports Q4 results in line with preliminary; to propose a dividend of SEK 0.28 per share for the 2025 financial year

        • HACK.SS (Hacksaw) -- reports Q4 EPS €0.17 vs FactSet €0.15 [1 est]

        • SVEAF.SS (Sveafastigheter) -- reports FY EPS SEK0.42 vs year-ago (SEK8.15)

        • BAHN.B.SS (Bahnhof) -- reports Q4 EPS SEK0.09 vs year-ago SEK0.47

        • SEYE.SS (Smart Eye) -- reports Q4 EPS (SEK1.31) vs year-ago (SEK1.78)

      • Also due to report today:

        • Earnings:

          • Benelux: Coca-Cola Europacific Partners (CCEP.NA)

          • DACHs: Moberg Pharma (MB8.GR)

          • Finland: SSH Communications Security (SSH1V.FH)

          • France: Carrefour (CA.FP), Icade (ICAD.FP), M6-Metropole (MMT.FP)

          • Norway: Otello Corp. (OTEC.NO)

          • Other: Kerry Group (KRZ.ID)

          • Southern Europe: Enagas (ENG.SM)

          • Sweden: engcon (ENGCON.B.SS), Fagerhult Group (FAG.SS), Coinshares International (CS.SS),Traction (TRAC.B.SS), Embellence Group (EMBELL.SS), SinterCast (SINT.SS)

          • UK: Antofagasta (ANTO.LN), BHP Group (BHP.LN), InterContinental Hotels Group (IHG.LN), Springfield Properties (SPR.LN)

        • Trading Update:

          • DACHs: Ottobock SE & Co. KGaA (OBCK.GR)

    • M&A

      • FGR.FP (Eiffage) -- acquires assets of Claus Heinemann Elektroanlagen; terms undisclosed

      • IDR.SM (Indra Sistemas) -- Third Point builds significant interest in Indra Sistemas; throws support behind plan to acquire Escribano Mechanical and Engineering - Bloomberg (16-Feb, 17:07 CET)

      • HLAG.GR (Hapag-Lloyd) -- to host conference call around 14:00CET (08:00 ET) on Tuesday, 17-Feb to discuss merger agreement with ZIM

    • Healthcare

      • ROG.SW (Roche Holding) -- Roche Holdinga appoints Mark Dawson as the new Head of Roche Pharma Research and Early Development

      • NWRN.SW (Newron Pharmaceuticals) -- secures up to €38M to advance Phase III Evenamide program as potential first add-on therapy for treatment-resistant schizophrenia

      • ONCIN.NO (BerGenBio) -- to present positive 24-month follow-up data from Phase 1 ovarian cancer study of Radspherin at ESGO 2026

    • Other

      • VK.FP (Vallourec) -- Baker Hughes and Vallourec sign a memorandum of understanding on underground hydrogen storage with the DELPHY solution

      • FHZN.SW (Flughafen Zuerich) -- Zurich Airport Ltd. has concluded negotiations on flight operations charges with the airport users

      • EU to force EV manufacturers to ensure 70% of components in their cars are made in the EU to qualify for state support - FT

  • Key rating changes

    • Upgrades

      • AVOL.SW (Avolta) -- to buy from neutral at UBS

      • BAS.GR (BASF SE) -- to hold from sell at Berenberg

      • CPR.IM (Davide Campari-Milano) -- to neutral from underperform at Oddo

      • FBK.IM (FinecoBank) -- to buy from neutral at UBS

      • SSPG.LN (SSP Group) -- to buy from neutral at UBS

    • Downgrades

      • ULVR.LN (Unilever) -- to hold from buy at Kepler Cheuvreux

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

      • ALFEN.NA (Alfen) -- to underperform from neutral at Oddo

    • Initiations

      • CS.FP (AXA) -- outperform at RBC Capital Markets

      • ALV.GR (Allianz) -- sector perform at RBC Capital Markets

  • Data

    • Nikkei (0.42%) to 56566.49

    • Hang Seng +0.00% to 26705.94

    • Shanghai Composite +0.00% to 4082.07

    • S&P futures (26.5) vs prior close of 6850.5

    • €-$ (0.0008) or (0.07%) to 1.1844

    • $-¥ (0.59) or (0.39%) to 152.91

    • €-¥ (0.79) or (0.43%) to 181.13

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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