European markets open mixed as Heineken shares surge 4% on 6,000 job-cut plan

Major European stock exchanges began the February 11, 2026 session with a cautious tone, within a technical consolidation phase following the recent sideways movement. At the open, the FTSE MIB stood around 46,900 points, maintaining a moderately bullish bias but with contracting volumes near recent highs; Germany’s DAX fluctuated around 24,980 points, just below short-term dynamic resistance levels; France’s CAC 40 traded near 8,340 points, showing a still constructive technical structure above key support levels; the UK’s FTSE 100 hovered around 10,360 points, slightly retreating after its recent advance; Spain’s IBEX 35 gravitated around 18,100 points, in a technical pullback; while the EURO STOXX 50 positioned itself near 6,049 points, stabilizing after the upward progression of recent weeks.

From a technical perspective, index configurations highlight a market in a volatility compression phase, with short-term oscillators in neutral territory and short-term moving averages acting as dynamic support. However, the lack of a decisive breakout above resistance suggests operational caution and the potential persistence of a trading range until new macro catalysts emerge.

Earnings and Sector Rotation Drive Flows

Investor attention remains firmly focused on earnings season, with a marked divergence across sectors. The luxury and travel segments have shown resilience thanks to better-than-expected results, while energy and financial stocks have experienced profit-taking.

The ongoing rotation reflects a selective market, favoring companies with earnings visibility and defensive pricing power, within a still uncertain macroeconomic environment.

Heineken Under Scrutiny: Volume Pressure and Restructuring

Among the monitored stocks, Heineken stands out, trading around €73.8–74 in Amsterdam at the open. The very short-term technical picture shows mixed signals: some moving averages suggest an attempt at stabilization, yet momentum remains fragile.

On the fundamental side, the announcement of a plan to cut up to 6,000 jobs and a more moderate growth guidance for 2026 reflect a structural slowdown in beer demand across mature markets. The combination of volume pressure and revised outlook has increased the stock’s sensitivity to macro news and European consumption data.

Macro Scenario: U.S. Data and Global Sentiment

The international backdrop continues to influence European equities. Expectations surrounding U.S. Non-Farm Payrollsand mixed signals from American consumer spending keep attention focused on the trajectory of Federal Reserve monetary policy.

At the same time, within the Eurozone there has been an improvement in investor confidence indicators, although concerns persist regarding industrial competitiveness and trade tensions.