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Back to Daily DR Market Summary

StreetAccount Summary - EU Market Recap: FTSE 100 +1.23% to 10686.18, DAX +1.12% to 25278.21, CAC40 +0.81% to 8429.03, STOXX 600 +1.19% to 628.69

Feb 18 ,2026

  • Synopsis:

    • European equity markets closed higher, near the best levels. New record highs for STOXX 600 and FTSE 100 with miners, defense stocks, banks and energy outperforming. Chemicals, Telecom and real estate lag. Follows Tuesday's firmer closer.

    • No change in market sentiment. European markets benefiting from rotation in recent sessions as investors evaluate AI disruption narrative. On that note, NVDA a standout on META collaboration agreement. Financials, defense and real estate stocks performing well week-to-date. Earning expectations have improved in recent weeks amid positive macro surprise. UK macro updates supportive for BoE rate cut expectations. ECB seen on hold in the long-term. Market looked through yesterday's moderation in ZEW investor sentiment from Germany and euro area. Germany's fiscal impulse to support cyclical recovery.

    • Elsewhere, US press reports said US war with Iran imminent. President Trump touted first investment projects under US-Japan trade deal worth $36B covering oil, gas and critical mineral projects. Includes gas plant to supply SoftBank (9984.JP) AI data centers. USTR Greer signaled administration weighing relaxing steel and aluminum tariff enforcement.

    • On the macro data front, attention on UK CPI after yesterday's weakness in labor market data. Headline CPI eased to 3.0% y/y as expected. Both core and services measure softer, but firmer than forecast. Market fully priced for two BoE rate cuts by year-end, with majority of analysts anticipating a March rate cut. Final French CPI confirmed at 0.3% y/y. In other news, FT reports that ECB President Lagarde to end her eight-year term early to enable France's Macron and Germany's Merz to appoint a successor ahead of French presidential election due in April 2027. ECB spokesman denied the report. There are concerns that a win for far-right RN could complicate relations with EU institutions given their known euroskepticism.

    • On the reporting front, Carrefour (CA.FP) shares fell on back of disappointing FY25 results, and mixed takeaways from its 2030 strategic plan. M6-Metropole (MMT.FP) and Icade (ICAD.FP) also issued their most recent numbers; in the Netherlands, IMCD (IMCD.NA) and ASR Nederland (ASRNL.NA) reported before the open whilst - in the UK - Glencore (GLEN.LN) and BAE Systems (BA.LN) were among few other names from the region to releases earnings/trading update. In the DACH region, Duerr (DUE.GR), Sunrise Communications (SUNN.SW), Straumann Holding (STMN.SW) and Wienerberger (WIE.AV) posted earnings, whilst the FT wrote that Volkswagen (VOW.GR)' Everllence division - valued at €5-6B - has drawn bids from Blackstone, EQT and CVC. Also In M&A, Vodafone Group Plc (VOD.LN) announces that it has agreed to sell its 50% interest in VodafoneZiggo Group Holding B.V. (+ZIGGO.NA) to Liberty Global plc for €1.0B in cash and a 10% shareholding in a soon-to-be-formed Benelux entity, which will own 100% of both VodafoneZiggo and Liberty Global's Belgian subsidiary, Telenet Group Holding

    • Looking ahead to tomorrow's calendar (see - Europe Week Ahead: 16-Feb to 20-Feb attached) Nestle (NESN.SW), Zurich Insurance Group (ZURN.SW), Cembra Money Bank (CMBN.SW), ISS (ISS.DC), Zealand Pharma (ZEAL.DC), Airbus (AIR.FP), Pernod Ricard (RI.FP), Accor (AC.FP), BE Semiconductor Industries (BESI.NA), Aegon (AGN.NA), Repsol (REP.SM), Unipol Gruppo (UNI.IM), and Centrica (CNA.LN) will be amongst other names to update investors, whilst the macro-calendar releases will include Switzerland Jan trade balance (monthly watch data), Spain Dec trade balance, Eurozone Feb flash consumer confidence, Dec construction output, UK Feb industrial trend orders - CBI, Netherlands Jan unemployment rate, Finland Jan CPI, Portugal Jan PPI, Ireland Jan CPI.

  • Digest:

    • Sectors - STOXX Europe 600:

      • Outperformers:

        • Basic Resources +4.20%, Technology +2.81%, Energy+2.23%, Banks +2.13%, Ind Goods & Svcs +2.05%, Financial Svcs +1.89%, Construct & Mtls +1.76%,

      • Underperformers:

        • Real Estate (1.06%), Chemicals (0.95%), Telecom (0.76%), Personal Care Drug and Grocery Stores (0.48%), Food, Beverage and Tobacco (0.21%), Travel & Leisure (0.20%), Utilities (0.08%), Health Care (0.04%), Insurance +0.14%, Autos & Parts +0.20%, Media +0.22%, Retail +0.65%,

    • Macro/Peripheral markets:

      • Geopolitics

        • Oil jumps more than 2% after Vance says Iran ignored key US demand, military strikes on the table -- CNBC

        • Satellite images show Iran repairing and fortifying sites amid US tensions - Reuters

        • 'Difficult' Russia-Ukraine peace talks end without breakthrough - BBC

      • Central Banks

        • Spain first to enter race for Lagarde succession at ECB - FT

        • ECB Chief's Early Departure May Reduce Risks to Euro, Rabo Says - Bloomberg

      • EU

        • Brussels pitches English-first approval to speed up EU trade deals - Politico

      • UK

        • UK flat prices fall after sharp drop in London - FT

        • Ministers may slow youth minimum wage rise amid UK unemployment fears - The Guardian

        • Mortgage rates due to fall for more than a million borrowers - BBC

        • Political Risk is the Biggest Cloud Over the UK - Bloomberg

      • France

        • Mélenchon's strategy of conflictuality under fire after far-right activist's killing - Le Monde

      • Germany

        • Chancellor and digital minister open to social media ban - Handelsblatt

        • Merz says fighter jet project fails to meet Germany's needs - FT

        • Merz Rejects German Nukes But Backs Pact With France and UK - Bloomberg

      • Italy

        • Italy's Plan to Strip Carbon Cost From Power Bills Jolts Markets - Bloomberg

    • Company news:

      • Trading Higher:

        • +46.0% MVIR.SS (Medivir SEK1.46, +0.46) -- FY earnings

        • +12.4% BIOA.B.SS (BioArctic SEK364.40, +40.20) -- FY earnings

        • +10.3% BRAV.SS (Bravida Holding SEK103.00, +9.65) -- Q4 earnings

        • +10.0% ANTO.LN (Antofagasta £39.78, +3.61)

        • +9.8% DBG.FP (Derichebourg €9.28, +0.83) -- TPICAP Midcap upgrade

        • +9.4% DUE.GR (Duerr €25.05, +2.15) -- prelim. FY earnings

        • +9.4% IGD.IM (IGD SIIIQ €4.15, +0.36) -- initiated outperform at Oddo

        • +8.4% SINCH.SS (Sinch SEK21.83, +1.69) -- SEB upgrade

        • +6.6% ORRON.SS (Orrön Energy SEK6.33, +0.39) -- Q4 earnings

        • +6.0% MB.IM (Mediobanca €19.24, +1.10) -- BMPS merger by incorporation and delisting

        • +4.7% GLEN.LN (Glencore £5.09, +0.23) -- FY earnings

        • +4.5% EXA.FP (Exail Technologies €120.60, +5.20) -- Q4 earnings

        • +4.4% HKFOODS.FH (HKFoods €1.90, +0.08)

        • +4.2% ERG.IM (ERG €23.74, +0.96)

        • +4.1% BA.LN (BAE Systems £21.11, +0.83) -- FY earnings

        • +3.8% SIE.GR (Siemens AG €244.75, +9.05)

        • +3.4% BOCH.CY (Bank of Cyprus Holdings €9.68, +0.32) -- FY earnings

        • +2.5% SOBI.SS (Swedish Orphan Biovitrum SEK421.00, +10.20) -- CMD update

        • +2.1% ROCK.B.DC (Rockwool DKK224.70, +4.60) -- UBS upgrade

        • +1.5% BMPS.IM (Banca Monte dei Paschi di Siena €8.55, +0.13) -- MB merger by incorporation and delisting

      • Trading Lower:

        • -25.9% BIG.FP (Bigben Interactive €0.59, -0.21) -- main holder unable to proceed with scheduled partial repayment of bonds

        • -25.4% NACON.FP (Nacon €0.28, -0.09) -- main holder unable to proceed with scheduled partial repayment of bonds

        • -19.0% SEE.LN (Seeing Machines £0.03, -0.01) -- H1 trading update

        • -12.1% VU.FP (VusionGroup €115.20, -15.90) -- strategic partnership with Carrefour

        • -10.1% PRIC.B.SS (Pricer SEK3.12, -0.35) -- no longer exclusive Carrefour supplier of ESL

        • -8.5% SHOT.SS (Scandic Hotels Group SEK84.30, -7.80) -- Q4 earnings

        • -7.3% BAYN.GR (Bayer AG €45.65, -3.61) -- proposed $10.5B Roundup class settlement agreement

        • -6.6% IMCD.NA (IMCD €83.02, -5.84) -- FY earnings

        • -6.6% GMAB.DC (Genmab DKK1,825.00, -128.50) -- FY earnings

        • -6.6% SSH1V.FH (SSH Communications Security €2.25, -0.16)

        • -5.4% CA.FP (Carrefour €14.58, -0.82) -- FY earnings; CMD update

        • -5.4% VRLA.FP (Verallia €21.14, -1.20) -- strategic review of its European sites; Oddo downgrade

        • -4.8% BNR.GR (Brenntag €54.70, -2.76)

        • -4.2% NTGY.SM (Naturgy Energy Group €25.39, -1.12) -- FY earnings

        • -4.1% ICAD.FP (Icade €20.96, -0.90) -- FY earnings

        • -3.7% FAG.SS (Fagerhult Group SEK32.10, -1.25)

        • -3.5% EL.FP (EssilorLuxottica €234.60, -8.40) -- Apple reportedly stepping up development of new AI glasses, wearable pendant, and camera airpods -- Bloomberg

        • -2.6% TEF.SM (Telefonica €3.57, -0.09) -- InfraVia, Liberty Global andcompany acquire Substantial Group for £2B through their existing joint venture, nexfibre

        • -2.5% EFGN.SW (EFG International CHF18.46, -0.48) -- FY earnings

    • EU companies reporting tomorrow:

      • Earnings:

        • Belgium: Azelis Group (AZE.BB), Gimv (GIMB.BB), Kinepolis Group (KIN.BB)

        • DACH: Nestle (NESN.SW), Zurich Insurance Group (ZURN.SW), Cembra Money Bank (CMBN.SW), Hochtief (HOT.GR), Knorr-Bremse (KBX.GR), Krones (KRN.GR), Jost Werke (JST.GR)

        • Denmark: ISS (ISS.DC), Zealand Pharma (ZEAL.DC), DFDS (DFDS.DC), Jeudan (JDAN.DC), cBrain (CBRAIN.DC)

        • Finland: Bittium (BITTI.FH), Lemonsoft (LEMON.FH)

        • France: Airbus (AIR.FP), Pernod Ricard (RI.FP), Accor (AC.FP), Klepierre (LI.FP), Renault (RNO.FP), Gaztransport & Technigaz (GTT.FP), Nexans (NEX.FP), La Francaise des Jeux (FDJU.FP), Air France-KLM (AF.FP), Tikehau Capital (TKO.FP), Lagardere (MMB.FP), Imerys (NK.FP), Coface (COFA.FP)

        • Netherlands: BE Semiconductor Industries (BESI.NA), Aegon (AGN.NA), ARCADIS (ARCAD.NA), Koninklijke BAM Groep (BAMNB.NA), ForFarmers (FFARM.NA)

        • Norway: Smartoptics Group (SMOP.NO), Ensurge Micropower (ENSU.NO), BerGenBio (ONCIN.NO)

        • Other: Irish Residential Properties REIT (IRES.ID)

        • Southern Europe: Repsol (REP.SM), Unipol Gruppo (UNI.IM), The Navigator Co. (NVG.PL)

        • Sweden: Bure Equity (BURE.SS), GomSpace Group (GOMX.SS), Viva Wine Group (VIVA.SS), Implantica (IMP.A.SS), Ework Group (EWRK.SS), Surgical Science Sweden (SUS.SS), Arla Plast (ARPL.SS), Cint Group (CINT.SS), GARO (GARO.SS), Oncopeptides (ONCO.SS), Rottneros (RROS.SS), B3 Consulting Group (B3.SS), Eniro Group (ENRO.SS), Starbreeze (STAR.B.SS), Viaplay Group (VPLAY.A.SS)

        • UK: Centrica (CNA.LN), Mondi (MNDI.LN)

      • Trading Update:

        • France: Marie Brizard Wine & Spirits (MBWS.FP)

      • CMD/Events: Orange (ORA.FP), Nexans (NEX.FP) business deep dive

  • Data:

    • Economics:

      • UK Jan

        • CPI +3.0% y/y vs consensus +3.0% and prior +3.4%

        • Output PPI +2.5% y/y vs consensus +3.2% and prior revised +3.1% from +3.4%

      • France Jan CPI +0.3% y/y vs preliminary +0.3%

    • Markets:

      • WTI Crude (Mar 26): +$2.07 or +3.32% to $64.40

      • €-$ (0.0037) or (0.31%) to 1.1818

      • £-$ (0.0021) or (0.15%) to 1.3547

      • €-£ (0.0014) to 0.8724

      • S&P 500 +0.88%

      • Performance year-to-date

        • FTSE 100: +7.60%

        • DAX: +3.22%

        • CAC: +3.43%

        • MIB: +3.22%

        • Stoxx 600: +6.16%

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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