FTSE 100 Forecast - Indices Weekend Outlook | February 16, 2026

Market Overview

As the US observes Presidents’ Day and China celebrates the Spring Festival, the focus shifts to European markets, particularly the FTSE 100. The upcoming week is expected to be eventful with numerous earnings reports from UK, European, and US companies, alongside significant economic data that could influence rate cut expectations in both the UK and US.

Recap of the Previous Week

The previous week was marked by volatility in major indices, primarily driven by weakness in US tech stocks. However, major indices managed to maintain key support levels. A robust US jobs report was followed by inflation data that came in lower than anticipated at 2.4% year-on-year, down from 2.7% the previous month. This softer inflation reading has led markets to anticipate more aggressive easing from the Federal Reserve, with a 30% chance of a rate cut by April and over 80% by June.

In the UK, the FTSE 100 has been trading near record highs, buoyed by expectations of rate cuts from the Bank of England due to signs of economic weakness. The UK economy ended 2025 on a weak note, particularly in construction and business investment, which has raised growth concerns. Despite this, the pound did not experience a significant sell-off, indicating that the Bank of England was already aware of the economic slowdown.

Looking Ahead: Key Data and Earnings

In the upcoming week, several crucial economic indicators will be released, including UK wages data on Tuesday and CPI on Wednesday, both of which are vital for shaping expectations around future Bank of England rate cuts. Other significant data includes global PMIs and US GDP, along with core PCE inflation on Friday.

Top 10 Company Earnings This Week

• Tuesday, Feb 10: BP, AstraZeneca, Barclays, S&P Global, The Coca-Cola Company, Robinhood Markets
• Wednesday, Feb 11: Cisco Systems, McDonald’s
• Thursday, Feb 12: Unilever, Anheuser-Busch InBev

Key Economic Data Highlights

• Monday, Feb 9: Japan GDP, Eurozone industrial production
• Tuesday, Feb 10: UK Jobless claims, average earnings index, employment data, German ZEW Economic Sentiment, Canadian CPI, US Empire State Manufacturing Index
• Wednesday, Feb 11: RBNZ interest rate decision (no change expected), UK CPI (expected to ease to 3.0% from 3.4%), US durable goods orders, housing starts, building permits, FOMC minutes
• Thursday, Feb 12: Australia employment data, US Jobless Claims, Philly Fed Manufacturing Index, Pending Home Sales
• Friday, Feb 13: Global PMIs, UK retail sales, Canada retail sales, US Advance GDP, Core PCE Price Index, New Home Sales

FTSE 100 Key Levels

Recent aggressive dip buying has established key short-term levels for the FTSE 100. Important support levels to monitor include 10,400, followed by 10,375, 10,300, and 10,280. Resistance is limited, with the primary level being around 10,480, above which lies the all-time high at 10,545.