Stocks on the Rise

Edenred (+8%): A Brazilian court has ruled in favor of Edenred, according to Folha, in the ongoing standoff between meal voucher providers and authorities in Brazil. Tighter local regulations had been behind the sector's underperformance in recent months. Unrelated to this news, Barclays maintains its market weight rating but cuts its price target from 36 to 21 EUR, which still stands above Tuesday's closing price (17.20 EUR). Kepler Cheuvreux is also trimming its valuations but remains bullish: the target is lowered from 28 to 18 EUR for Pluxee and from 40 to 28 EUR for Edenred. Again, these are well above current prices. 

Premier Foods (+6%): The UK company expects full-year profit at the upper end of its forecast range.

Barry Callebaut (+5.5%): The chocolatier posted sales of 3.67 billion Swiss francs for the first quarter of 2025-26 (September to November), an increase of 8.9% in local currencies (+6.4% in Swiss francs), despite a drop in volumes (-9.9%).

Inficon (+5%): UBS maintains its buy rating and raises the price target from 115 to 130 CHF.

Burberry (+4%): The British luxury group delivered quarterly results slightly above expectations—a welcome surprise. "We will slightly revise our estimates upwards as a result, and the encouraging improvement seen in mainland China could provide further support for the luxury sector as a whole," notes Alphavalue analyst Jie Zhang. Indeed, LVMH and Hermès are also gaining this morning in Burberry's wake.

Atos SE (+4%): The group achieved a margin slightly above 4% in 2025. Atos, which is working to turn its business around, recorded sequential performance improvements in the fourth quarter. Both margin and cash consumption were somewhat higher than expected.

Haleon (+3%): HSBC upgrades from hold to buy, with a price target raised from 400 GBX to 430 GBX.

Aixtron (+3%): JP Morgan upgrades from neutral to overweight, with a price target lifted from 13.50 EUR to 25.20 EUR.

Rio Tinto (+3%): The mining group shipped more iron ore than expected in the last quarter of 2025. Copper equivalent (CuEq) production rose 8% year-on-year in 2025, with shipments up 5%, thanks to the strong ramp-up at Oyu Tolgoi. The group highlights "a record year for bauxite production" and its lithium business.

D'Ieteren (+3%): Jefferies upgrades from hold to buy, raising the price target from 185 to 215 EUR.

Stocks on the Decline

Danone (-9%): The stock tumbled in morning Paris trading. Over the past 72 hours, research houses have widely commented on falling birth rates in China, which will hamper future growth for companies in the sector. Jefferies and Deutsche Bank have both raised alarms. Bank of America reiterated its underperform rating this morning, trimming the price target slightly from 70 to 69 EUR. Market sources also dug up a January 17 statement from Singaporean authorities regarding a recall of two infant formulas (Nestlé's NAN HA1 SupremePro and Danone's Dumex Dulac 1) after the detection of cereulide toxin, linked to a common ingredient. Authorities said one mild case was reported. The news had already circulated four days ago, but renewed tensions over Nestlé following multiple recalls may have fueled further volatility.

Redcare (-7%): The stock continues to slide, after already coming under pressure the previous day following disappointing results from rival DocMorris.

J D Wetherspoon (-6%): The pub operator reported solid sales, but results are being weighed down by costs rising more than expected.

Experian (-4%): The group maintained its annual guidance after quarterly results, but the market remains unsatisfied. Nonetheless, analysts find the release reassuring.

Mowi (-2.5%): The market gave a cool reception to the Norwegian salmon farmer's figures. For the year, Mowi reported harvest volumes of 559,000 tonnes, up from 502,000 tonnes in 2024, representing growth of 11.4%.