Newsquawk Daily European Equity Opening News - 13th February 2026

ASIA

APAC stocks were mostly lower as the region took its cue from the losses stateside, where tech underperformed as AI-disruption concerns re-emerged, and logistics/industrials stocks were also pressured after Algorhythm Holdings (RIME) released its AI freight scaling tool. ASX 200 was dragged lower by losses in tech stocks, and as participants also digested earnings releases. Nikkei 225 retreated at the open after recent currency strength and with focus also on earnings reports, including from SoftBank, which returned to profit in Q3 but missed expectations, while its shares were also not helped by its AI exposure. Hang Seng and Shanghai Comp suffered alongside the broad downbeat mood in the region, and despite reports that President Trump paused some China tech bans ahead of his summit with Xi in April, while it is also the last trading day in the mainland before the Lunar New Year and Spring Festival holiday closures.

US-Taiwan - US and Taiwan sign a reciprocal trade agreement with Taiwan to eliminate or reduce 99% of tariff barriers on US goods, while US confirms 15% tariff rate on Taiwanese goods. (Newswires)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.27% at 6,019, Dax 40 -0.11% at 24,828, FTSE 100 -0.67% at 10,402, CAC 40 +0.33% at 8,341, FTSE MIB -0.62% at 46,223, IBEX 35 -0.82% at 17,897, PSI -0.49% at 9,026, SMI -0.21% at 13,543, AEX -2.02% at 989

SECTORS: Telecoms 2.22%, Consumer Stpl 1.26%, Healthcare 0.48%, Consumer Disc 0.22%, Utilities -0.36%, Industrials -0.72%, Energy -1.13%, Financials -1.39%, IT -1.75%, Materials -2.10%

FTSE 100

OTHER UK COMPANIES

BROKER MOVES

DAX

Mercedes Benz (MBG GY) - Co. to recall 11.9k vehicles over a fire risk warning, according to the NHTSA. (NHTSA)

Volkswagen (VOW3 GY) / Rivian Automotive (RIVN) - Rivian Shares surged 15% in extended trading after it beat Q4 expectations and guided to a significant increase in vehicle deliveries this year, driven by the upcoming launch of its R2 model despite ongoing losses. Q4 EPS -0.66 (exp. -0.79), Q4 revenue USD 1.29bln (exp. 1.27bln). The company achieved its first annual gross profit of USD 144mln in 2025, including USD 120mln in Q4, supported by its software and services joint venture with Volkswagen, partially offsetting automotive segment losses, while FY net loss narrowed to USD 3.6bln from USD 4.75bln in 2024; Q4 net loss was USD 804mln. Total liquidity at quarter-end was USD 6.59bln, including nearly USD 6.1bln in cash and investments. Management described 2025 as a foundational year and said 2026 will mark an inflection point, with R2 deliveries expected to begin in Q2 and ramp through the year. For FY26, sees vehicle deliveries between 62-67K, sees FY26 adjusted pre-tax losses between USD -2.1bln and USD -1.8bln; sees FY26 capex between USD 1.95-2.05bln.

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

Capgemini (CAP FP) - FY 2025 (EUR): Revenue 22.5bln (exp. 22.3bln, prev. 22.1bln Y/Y), Operating profit 2.2bln (prev. 2.4bln Y/Y); guides initial FY26 at 6.5-8.5%. (Capgemini)

L'Oreal (OR FP) - Q4 2025 (EUR): Revenue 11.25bln (exp. 11.11bln), Operating profit 8.89bln (exp. 8.94bln), LFL sales +6% (exp. +6.46%) LFL Sales: Derm. beauty +11.5% (exp. +5.78%). Consumer products +4.8% (exp. +4.84%). Luxe +4.5% (exp. +7.82%). Comp Sales: North America +8.6% (exp. +7.51%). North Asia +0.6% (exp. +5.44%). FY25 Results: Sales 44.1bln (exp. 44.2bln). (L'Oreal)

Publicis (PUB FP) - Co. to buy back shares for EUR 175mln. (Publicis)

Safran (SAF FP) - FY25 (EUR): Revenue 31.3bln (prev. 27.3bln Y/Y), Operating profit 4.72bln (prev. 4.13bln Y/Y), sees FY26 revenue higher in the low to mid-teens and operating income between 6.1-6.2bln. (Safran)

Technip Energies (TE FP) - Co. awarded a substantial contract for SkyNRG’s Sustainable Aviation Fuel project in the Netherlands. (Technip Energies)

OTHER FRENCH COMPANIES

Eutelsat (ETL FP) - H1 2025 (EUR): Revenue 591.6mln (exp. 581mln, prev. 606.2mln Y/Y), Adjusted EBITDA 308.2 mln (prev. 334.9mln Y/Y), Operating profit -789.6mln (prev. -118.2mlnb). Announces almost EUR 1bln in Export Credit Agency financing obtained. (Eutelsat)

Technip Energies (TE FP) - Co. awarded a substantial contract for SkyNRG’s Sustainable Aviation Fuel project in the Netherlands. (Technip Energies)

Ubisoft (UBI FP) - Q3 (EUR): Net bookings 388mln, +12% Y/Y. 9M: Sales 976.2mln, -1.4% Y/Y. Net Bookings 1.11bln, +17.6% Y/Y. Outperformance vs expectations primarily driven by partnerships and the Assassin's Creed franchise. (Ubisoft)

BROKER MOVES

Dassault Systemes (DSY FP) downgraded to Reduce from Buy at Alpha Value

PAN EUROPE

Aedifica (AED BB) - FY 2025 (EUR): Rental income 250.9mln (prev. 338.1mln Y/Y), EPRA Earnings 244.8mln (prev. 234.6mln Y/Y), EPS 5.14 (prev. 4.31 Y/Y), Profit 244.mln (prev. 204.8mln Y/Y). (Aedifica)

Defence names - US aircraft carrier U.S.S Gerald R. Ford will be sent to the Middle East from Venezuela, according to officials cited by NYT. (NYT)

Mining names - US President Trump plans to roll back tariffs on metal and aluminium goods, according to FT. (FT)

BROKER MOVES

SMI

Novartis (NOVN SW) - Novartis announced final results from the Phase III ALIGN study supporting a slowing decline in kidney function in adults with IgA nephropathy who were treated with Vanrafia. The key secondary endpoint for the final analysis is the change from baseline to 136 weeks in kidney function as measured by eGFR. Other secondary efficacy endpoints as well as safety and tolerability are also assessed. (Novartis)

Sika (SIKA SW) - Co has agreed to acquire Akkim, a leading global manufacturer of adhesives and sealants based in Turkey. This acquisition will strengthen Sika’s position in the global adhesives and sealants industry and unlock substantial growth opportunities through expanded presence in the distribution channel and broader geographic reach. (Sika)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

AF Gruppen (AFG NO) - FY 2025 (NOK): Revenue 31.9bln (prev. 30.64bln Y/Y), Earnings before tax 1.65bln (prev. 1.09bln Y/Y). (AF Gruppen)

Elkem (ELK NO) - Co. to sell majority of Silicones division to Bluestar. (Elkem)

Fingerprint (FINGB SS) - FY 2025 (SEK): Revenue 78.2mln (prev. 60.3mln Y/Y), EBITDA -19.1mln (prev. -181.8mln Y/Y), EPS -2.02 (prev. -18.4 Y/Y). (Fingerprint)

Huhtamaki (HUH1V FH) - FY 2025 (EUR): 3.96bln (prev. 4.13bln Y/Y), Adjusted EBITDA 613mln (prev. 622.2mln Y/Y), EPS 11.8% (prev. 12.1% Y/Y). (Huhtamaki)

Norsk Hydro (NHY NO) - Q4 2025 (SEK): Revenue 47.2bln (exp. 47.4bln), Adj. EBITDA 5.59bln (exp. 5.15bln), Underlying net income 1.67bln (exp. 1,63bln); The Board of Directors have decided to propose to the General Meeting a dividend of NOK 3.0 per share on the basis of the company's financial statements for the financial year 2025. (Norsk Hydro)

BROKER MOVES

Volvo (VOLVB SS) downgraded to Sector Perform from Outperform at RBC

US

CLOSES: SPX -1.55% at 6,834, NDX -2.04% at 24,688, DJI -1.34% at 49,452, RUT -2.15% at 2,612

SECTORS: Utilities +1.50%, Consumer Staples +1.28%, Real Estate +0.31%, Health -0.17%, Industrials -1.20%, Communication Services -1.46%, Materials -1.49%, Consumer Discretionary -1.58%, Financials -1.99%, Energy -2.17%, Technology -2.65%.

Apple (AAPL) - Apple was cleared by a jury in Texas of infringing five 4G/LTE patents in a 2019 lawsuit brought by Optis Wireless, Electrek reports. The verdict follows two prior awards of USD 506mln and USD 300mln to Optis, both overturned on appeal. A separate Optis case against Apple remains ongoing in the UK. (Electrek)

Applied Materials (AMAT) - Shares of Applied Materials jumped 12.4% in extended trading after it reported better-than-expected quarterly results and issued guidance well above market forecasts, supported by accelerating AI-driven investment and record segment revenues. Q1 adj. EPS 2.38 (exp. 2.21), Q1 revenue USD 7.01bln (exp. 6.88bln). Results were supported by accelerating investment in AI computing, with management highlighting strength in leading-edge logic, high-bandwidth memory and advanced packaging, and expecting semiconductor equipment revenue to grow over 20% this calendar year. CEO said demand for higher-performance and more energy-efficient chips is driving growth in key segments where Applied holds process equipment leadership. Sees Q2 EPS between 2.44-2.84 (exp. 2.28), Q2 revenue between USD 7.15-8.15bln (exp. 7.02bln); outlook excludes USD 0.01/shr of known acquisition-related charges, and includes a USD 0.04/shr net income tax benefit related to intra-entity intangible asset transfers.

Coinbase (COIN) - Q4 adj. EPS 0.66 (exp. 0.61), Q4 revenue USD 1.78bln (exp. 1.83bln). Transaction revenue fell to USD 982.7mln (from USD 1.56bln y/Y), driven by a more than 45% decline in consumer transaction revenue. Subscription and services revenue +13.5% Y/Y to USD 727.4mln, supported by stablecoin revenue of USD 364.1mln (vs USD 225.9mln Y/Y), reflecting growing diversification away from trading activity. Management said crypto markets are cyclical and highlighted the role of stablecoins and recurring revenues in smoothing volatility. Sees Q1 Subscription and Services revenue between USD 550-630mln, reflecting lower average USDC market capitalisation, interest rates, crypto prices and staking rates versus Q4. Sees Q1 technology & development and general & administrative expenses between USD 925-975mln, roughly flat Q/Q, with higher compensation costs offset by professional fee savings. Sees Q1 sales and marketing expenses between USD 215-315mln, depending on performance marketing opportunities and average USDC held in Coinbase products.

DraftKings (DKNG) - Shares fell over 15% in afterhours trading following a 2026 revenue and profit forecast that came in below estimates, as it plans heavy investment to expand into prediction markets. Q4 adj. EPS 0.36 (exp. 0.41), Q4 revenue USD 1.99bln (exp. 1.99bln). CEO said the business enters 2026 with strong momentum and highlighted a significant incremental opportunity in DraftKings Predictions, with plans to deploy growth capital to enhance the customer experience and acquire millions of customers. Sees FY26 revenue between USD 6.5-6.9bln (exp. 7.29bln), and FY26 adj. EBITDA between 700-900mln, with guidance reflecting investment in DraftKings Predictions, anticipated jurisdiction launches and disciplined planning, assuming state tax rates remain consistent with current levels.

Nvidia (NVDA) - Nvidia is expected to lease a 200-megawatt data center and substation in Nevada, funded partly by a USD 3.8bln junk-bond sale, Bloomberg reports. An entity backed by Tract Capital will issue the debt to finance part of the project’s construction, the repotr said. (Bloomberg)

Tech - US President Trump reportedly pauses China tech bans ahead of the Xi summit.

13 Feb 2026 - 07:03- Research Sheet- Source: Newsquawk