Daily Stock Market Report (Wed 18th February 2026) - PAF, SEE, KEYS, BA., CRE

Good morning all, today's Agenda is now complete. It's a great day if you're interested in resource and energy stocks, but otherwise it's slim pickings!

All done for today, thanks everyone! Spreadsheet accompanying this report: link.

Companies Reporting
Name (Mkt Cap)RNSSummaryOur View (Author)BAE Systems (LON:BA.) (£61bn | SR73)Preliminary ResultsRevenue up 8% to £28.3bn with operating profit up 9% to £2.9bn. Adj EPS +12% to 75.2p, slightly ahead of 74.1p consensus. Record order backlog at £83.6bn. Outlook guidance: 2026 adj EPS +9 to +11%.AMBER/GREEN = (Roland)These results are strong and appear to be marginally ahead of FY25 consensus estimates. Earnings growth guidance for 2026 has also been tweaked higher, although my impression is that this was already reflected in consensus estimates.Looking at the results, profitability was stable last year, supporting good cash generation. While the valuation is arguably up with events, it is not outlandish given the macro backdrop and strong order book. On balance, I think there’s enough evidence of positive momentum here to justify leaving my view unchanged today.Glencore (LON:GLEN) (£57bn | SR36)Preliminary Results amp; Glencore agreement w Gécamines for KCC land accessRevenue +7% to $247.5bn, adj EBIT...