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StreetAccount Summary - Europe Pre-Open: Futures: FTSE +0.23%, DAX +0.26%, CAC40 +0.29%

Feb 18 ,2026

  • Synopsis

    • European indices are set to open slightly higher as Asia equities also trade higher amid thin volumes Wednesday. Japan's two main boards more than 1% higher, Australia's ASX supported by banks post NAB's well-received earnings.

    • US equities finished mostly higher in Tuesday trading, a bit off best levels. Equal-weight S&P (RSP) trailed cap-weighted index with some notable outperformers in big tech (including AAPL, NVDA, and AMZN) and among the moneycenter banks.

    • Macroeconomic releases due today include: Economic: UK Jan CPI/RPI, PPI output/input, France Jan final CPI

    • In central banks, Bank of France's Villeroy speaks at 9:30CET at finance committee meeting of France's National Assembly.

    • Earnings reported so far: BRAV.SS Bravida Holding reports Q4 EPS SEK2.41 vs FactSet SEK2.22. SUNN.SW Sunrise Communications reports FY adj EBITDAaL CHF1.01B vs consensus CHF1.01B; guides FY26. EFGN.SW EFG International reports FY net income CHF339.3M ex-items vs FactSet CHF367.1M. STMN.SW Straumann Holding reports FY EPS CHF2.99 vs FactSet CHF3.05. ASRNL.NA ASR Nederland reports FY operating result €1.64B vs consensus €1.60B. IMCD.NA IMCD reports FY cash EPS €5.19 vs FactSet €5.14

    • Politics/Macro/World News

      • Christine Lagarde to leave ECB before the end of her 8-year term (FT )

  • Top company news

    • Earnings/updates

      • BAYN.GR (Bayer AG) -- Bayer's Monsanto announces proposed Roundup class settlement agreement intended to resolve current and future claims

      • CA.FP (Carrefour) -- reports FY adjusted net income €1.09B vs FactSet €1.03B [10 est, €922.9-1.09B]; to present multi-year strategic plan tomorrow at CMD

      • IMCD.NA (IMCD) -- reports FY cash EPS €5.19 vs FactSet €5.14 [15 est, €3.82-5.85], cuts dividend (16%) y/y

      • REC.IM (Recordati) -- reports preliminary FY25 revenue €2.62B vs FactSet €2.62B [10 est, €2.60-2.66B]

      • DUE.GR (Duerr) -- reports prelim net income of ~€200M vs prior guidance of €120-170M and FactSet €128.8M

      • EMEIS.FP (Emeis SA) -- reports FY EBITDA €376M, +53% vs year-ago €245M

      • ICAD.FP (Icade) -- reports FY net income (€123.0M) vs year-ago (€275.9M)

      • MMT.FP (M6-Metropole) -- reports FY net income €123.4M vs FactSet €146.3M [6 est, €134.5-156M]; launches €80M cost reduction plan over next few years

      • MERY.FP (Mercialys) -- reports FY net recurrent EPS €1.26 vs FactSet €1.25 [5 est, €1.24-1.27]

      • LOCAL.FP (Solocal Group) -- reports FY net income €14.2M vs year-ago €119.9M

      • BICO.SS (BICO Group) -- reports Q4 EPS cont ops (SEK0.84) vs FactSet (SEK0.47) [3 est, (SEK0.80)-(0.30)]

      • AAD.GR (Amadeus FiRe) -- Group reports preliminary FY25 operating income, ex. restructuring costs of ~€20M

    • M&A

      • SHEL.LN (Shell Plc) -- XRG considering bid for Shell's stake in Northwest Shelf Project - The Australian

      • VOW3.GR (Volkswagen) -- Volkswagen's Everllence division, valued at €5-6B, draws bids from Blackstone, EQT and CVC - FT

      • Invesco considering bid for sale retirement business Lincoln Place - The Australian

      • EQT, Viruvian weighing strategic options for their investment in CFC - Bloomberg (17-Feb, 16:12 CET)

    • Healthcare

      • REGN (Regeneron) -- NICE recommends Regeneron's Dupixent to treat severe chronic rhinosinusitis with nasal polyps

      • GSK.LN (GSK Plc) -- NICE recommends GSK's Blenrep with pomalidomide and dexamethasone for previously treated multiple myeloma

      • BAYN.GR (Bayer AG) -- Transcript Intelligence: Bayer AG Business Update Call

      • GMAB.DC (Genmab) -- announces initiation of share buyback program with maximum aggregate total value of 725M DKK

      • SDZ.SW (Sandoz Group) -- Sandoz receives US FDA approval to expand Enzeevu (aflibercept-abzv) label for multiple retinal indications

    • Other

      • ULVR.LN (Unilever) -- Transcript Intelligence: Unilever at Consumer Analyst Group Of New York Conference

      • ENI.IM (Eni) -- exploring JV with commodity trading houses as it considers return to oil and gas trading - FT, citing CEO

      • AVOL.SW (Avolta) -- announces 12-year contract at Toronto Pearson International Airport

      • BIRG.ID (Bank of Ireland Group) -- PLC to exit US Leveraged Acquisition Finance business

      • BMPS.IM (Banca Monte dei Paschi di Siena) -- board has resolved to proceed with the full integration with Mediobanca through a merger by incorporation and the resulting delisting of the latter

      • VRLA.FP (Verallia) -- considering adapting industrial footprint in Europe

      • THEON.NA (Theon International) -- announces €41M new firm orders and additional €40M options

      • Apple reportedly stepping up development of new AI glasses, wearable pendant, and camera airpods -- Bloomberg

      • Lufthansa, Air France-KLM and SAS call on EU to scrap aviation deal with Qatar following dismissal of senior EU official who oversaw negotiations - FT

      • Regional Gaming Revenues - New Jersey January 2026

  • Key rating changes

    • Upgrades

      • GROW.LN (Molten Ventures) -- to overweight from equal weight at Barclays

      • ROCK.B.DC (Rockwool) -- to buy from neutral at UBS

    • Downgrades

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

      • HM.B.SS (H&M Hennes & Mauritz) -- to sell from hold at DNB Carnegie

      • TKO.FP (Tikehau Capital) -- to neutral from outperform at Oddo

    • Other Actions

      • PINE.LN (Pinewood Technologies Group) -- resumed buy at Jefferies; prior rating was buy

  • Data

    • Nikkei +1.02% to 57140.68

    • Hang Seng +0.00% to 26705.94

    • Shanghai Composite +0.00% to 4082.07

    • S&P futures +10.8 vs prior close of 6860.5

    • €-$ (0.0011) or (0.09%) to 1.1844

    • $-¥ +0.18 or +0.12% to 153.47

    • €-¥ +0.04 or +0.02% to 181.76

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