Friday 13 February 2026
The Mighty Headlines
Economics: UK economy grows 0.1% in Q4 2025 and 1.3% in 2025 overall
Business and markets: Magnum Ice Cream shares fall 16% as profits fall
Foreign Affairs: US lawmakers vote to end tariffs on Canada
Security and intelligence: NATO allies no longer believe US is a deterrent
Domestic politics: UK Cabinet Secretary leaves his role
The Mighty Stats
FTSE = 10,402.44 (down 0.67%)
S&P 500 = 6,832.76 (down 1.57%)
Nasdaq = 22,597.15 (down 2.03%)
Stoxx 600 = 618.52 (down 0.49%)
£1 = $1.36 / €1.15
Lab / Con / Reform = 16 / 19 / 29 per cent (Find Out Now, 11 February)
UK FTSE 100 biggest riser: Schroders (up 28.56%)
UK FTSE 100 biggest faller: Rentokil (down 6.88%)
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The Mighty Detail
Economics: The UK economy grew by 0.1 per cent in Q4 2025. Sterling fell on the news, given that growth was weaker than expected. For 2025 overall, the UK economy grew by 1.3 per cent – the fastest of the G7 economies in Europe – with a strong first 6 months followed by a weak final 6 months.
Business and markets: Shares in Magnum Ice Cream fell by 16 per cent in Amsterdam yesterday. It followed news that the company’s operating profit dropped to €599 million last year after it demerged from Unilever.
Analysts are also concerned that the popularity of weight-loss drugs could affect ice cream sales.
Foreign Affairs: The Republican-led US House of Representatives has voted to end President Trump’s tariffs on Canada. Given the tight Republican majority in the House, only 6 Republicans were needed to vote with the Democrats to pass the resolution.
President Trump is likely to veto any enabling legislation but the vote highlights lawmakers’ concerns about the cost of living ahead of November’s mid-term elections.
Security and intelligence: New polling suggests that NATO allies no longer believe that their relationship with the US will deter enemy attacks. Of countries polled, trust in the Americans was highest among Brits and lowest among Canadians.
A US official at yesterday’s NATO defence ministers’ meeting separately reiterated that Europe had to take “primary responsibility” for its own defence.
Domestic politics: The Cabinet Secretary, Sir Chris Wormald, has now left his role. It is reported that Downing Street was unhappy with his work. The Permanent Secretary of the Home Office, Dame Antonia Romeo, is said to be Downing Street’s favourite to replace him.
The Mighty Calendar
What’s happening today?
Munich Security Conference begins
Rio Carnival begins
Company results from: NatWest, Moderna
Winter Olympics focus: men’s figure skating, women’s snowboarding, Great Britain’s Matt Weston and Marcus Wyatt compete in the men’s skeleton.
Lookahead to the weekend
Saturday
St Valentine’s Day
G7 Foreign Ministers meet at the Munich Security Conference
Archbishop of Westminster installed
UK Athletics Indoor Championships, Birmingham
Ruby Six Nations: Scotland vs England, Ireland vs Italy
Winter Olympics focus: men’s giant slalom and ski jumping, women’s ice hockey quarterfinals, women’s skeleton.
Sunday
Rugby Six Nations: Wales vs France
Winter Olympics focus: mixed team skeleton, women’s speed skating, men’s ice hockey.
The Mighty Finale
🌤️Weather today
Rain again! Particularly heavy rain in the southwest of England. High of 8C and low of 1C in London. Sunny spells in Belfast. Sleet in Edinburgh in the morning.
✏️Life coaching quote of the day
“If you don't get what you want, it's a sign either that you did not seriously want it, or that you tried to bargain over the price.” – Rudyard Kipling, writer
Mighty takeaway: Nothing further to add!
That’s it for this morning and for this week. We hope that you enjoy the weekend (despite the rain!)
Cheerio!
The Mighty Memo team
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