Insights

Weekly Market Commentary – 20th February 2026

20 February 2026

This week, investors continued rotating away from US technology stocks towards European equities, with over $20bn flowing into the region in the first two weeks of February. UK equities were among the primary beneficiaries, supported by exposure to physical assets, relatively cheaper valuations and an improving fiscal position - underscored by a £30.4bn budget surplus in January, the largest monthly figure since records beganin 1993.