In Paris, the market is buoyed by gains in BNP Paribas (+3.84%), which reached a record high, and ArcelorMittal (+2.23%). The Antin Street bank notably reported a 28% increase in group net profit to €2.97 billion in the fourth quarter. Meanwhile, the steelmaker saw its earnings per share rise from $2.95 to $3.85, despite a 7% drop in EBITDA to $6.54 billion for the full year 2025.

In Germany, the DAX 40 is weighed down mainly by a sharp decline in Rheinmetall, which tumbled 6.39%. The defense group reaffirmed its 2025 targets, but its outlook for 2026 is viewed as somewhat too cautious.

Elsewhere in Europe, Volvo Cars plunged 24.65%. The Swedish automaker saw its results drop significantly in the fourth quarter, with revenues down 15.79% and operating profit plummeting 51.28%.

Other major names also reported their results, including Shell (-1.25%), Maersk (-6.27%), and Vodafone (-4.26%).

Mixed Macro-Economic Data in Europe Ahead of Central Banks

Across the continent, economic data released this morning was mixed. In Germany, December industrial orders surprised positively with a 7.8% jump, while analysts had expected a 1.8% decline. The increase was driven by gains in the metal products sector (+30.2%), machinery and equipment (+11.5%), and electrical and electronic equipment (+9.8% and +5.7%). However, new orders fell 6.3% in the automotive industry.

In France, industrial production disappointed in December, falling 0.7% against expectations of a 0.2% rise.

Investors showed little reaction, preferring to wait for decisions from two major central banks. No change in rates is expected from the Bank of England after December's cut. According to Oddo BHF, the next monetary easing is scheduled for spring.

As for the European Central Bank, no changes are anticipated, but as always, President Christine Lagarde's press conference will be closely watched. Investors will be looking for clues about the European institution's future intentions.

...And U.S. Earnings

In the United States, several giants will unveil their results. Linde, Conocophilips, and Bristol-Myers Squibb will report before the opening of New York markets, while Amazon will do so after the U.S. close.

On the macroeconomic front, market participants will also keep an eye on the release of new weekly jobless claims across the Atlantic at 2:30 p.m.