European Stocks Rise, Ferrari Soars & Wall Street Futures Dip

European stock markets continued their upward trajectory on Tuesday, February 10, 2026, consolidating gains from the previous session. Milan’s FTSE MIB index approached the 47,000-point mark, buoyed by strong performance from Ferrari following the release of its 2025 financial results. Meanwhile, Wall Street futures point to a weaker opening as investors await key U.S. Economic data this week, including figures on unemployment and consumer prices, which will inform expectations regarding the Federal Reserve’s monetary policy.

The cautious sentiment in U.S. Markets comes amid anxieties over the potential for persistent inflation and the possibility of a delayed easing of monetary policy. However, European markets are benefiting from a more optimistic outlook, particularly in the luxury sector. The strength of the Eurozone economy, coupled with positive earnings reports, is contributing to investor confidence.

Ferrari Gains Momentum on 2025 Results

Ferrari’s stock price received a significant boost after the company reported a net profit of €1.6 billion for 2025, a 5% increase compared to the previous year. Earnings per share (EPS) rose to €8.97, up 6%. Revenue climbed 7% to €7.146 billion, despite a slight decrease in car deliveries, which totaled 13,640 units – a reduction of 112 units compared to 2024. The company’s EBITDA for 2025 reached €2.772 billion, an 8% increase year-on-year, with a margin of 38.8% (up from 38.3% in 2024). EBIT increased by 12% to €2.11 billion, with a margin of 29.5% (compared to 28.3%). Free cash flow from industrial activities amounted to €1.538 billion, a 50% increase.

The strong financial performance underscores Ferrari’s resilience in a challenging global economic environment and its ability to maintain premium pricing power. The company’s focus on exclusivity and brand prestige continues to resonate with high-net-worth individuals, driving demand for its vehicles.

MPS Declines After Earnings, Luxury Sector Shines

While Ferrari thrived, Banca MPS experienced a decline in its share price following the release of its 2025 earnings report. However, its subsidiary, Mediobanca, performed well. Banca MPS announced that Piazzetta Cuccia will remain a “legal entity focused on corporate & investment banking and high-end private banking activities” and will present a new plan on February 27, 2026. The luxury sector as a whole is attracting investor attention, particularly after the earnings reports from Kering, which saw its shares rally on the Paris stock exchange. Brunello Cucinelli and Moncler also saw gains.

Stellantis also attempted a recovery after a significant drop last week. The automotive sector remains sensitive to broader economic conditions and geopolitical risks, but the performance of luxury brands like Ferrari suggests a degree of insulation from these pressures.

Kering’s Performance and Outlook

Kering’s shares surged in Paris despite reporting a continued decline in revenues for 2025, down 13% to €14.67 billion (or 10% at constant exchange rates). Net income was more than halved to €532 million, including extraordinary items and would have been negative by €29 million excluding them. Analysts, however, reacted positively to the sequential improvement in sales during the latter part of the year, with fourth-quarter revenue down 9% (or 3% at constant exchange rates). They also welcomed the clarity of vision presented by the new CEO, Luca De Meo, who took office on September 15, 2025, and emphasized the company’s untapped potential.

De Meo’s appointment signals a commitment to revitalizing Kering’s portfolio of luxury brands and restoring its growth trajectory. The company faces challenges in adapting to changing consumer preferences and navigating a competitive landscape, but its strong brand equity and financial resources position it for future success.

Yen Strengthens, Oil Prices Stable

In currency markets, the euro remained relatively stable at $1.19, while the yen continued to strengthen. The euro/yen exchange rate fell to 185 (-0.4%), and the dollar/yen rate to 155.36 (-0.3%). Bitcoin remained below $70,000 (at exactly $69,000) with a decline of over 1%, while gold held steady at around $5,000 but was down 0.7%. Oil prices were relatively stable, with Brent crude at $69 a barrel (+0.13%) and WTI crude at $64 (-0.13%). Natural gas saw a recovery, trading at €33.4 per megawatt-hour (-0.16%) after a sharp decline the previous day.

The strengthening of the yen reflects a combination of factors, including safe-haven demand and expectations of potential monetary policy adjustments by the Bank of Japan. The stability in oil prices suggests a balance between supply and demand, despite ongoing geopolitical tensions in the Middle East.

Looking ahead, investors will be closely monitoring the upcoming U.S. Economic data releases and the Federal Reserve’s response. The trajectory of interest rates and the overall health of the global economy will continue to shape market sentiment in the coming weeks.