Citi
June 19, 2026
The Global Point
Weekly UpdateEquitiesRates Govt BondsRates CreditCommunication ServicesFinancials
This report provides equity upgrades for Emirates Telecommunications and Falabella, alongside a review of UK economic policy and Czech banking sector performance.
Key Takeaways
- 1.Emirates Telecommunications (e&) upgraded to Buy due to resilience, improving market trends in Egypt/Morocco/Pakistan, and reduced M&A uncertainty.
- 2.Falabella upgraded to Buy, driven by strong banking segment performance and strategic operational improvements.
- 3.BoE MPC keeps rates at 3.75%, signalling demand management amid underlying economic weakness.
Table of Contents
- CEEMEA
- Czech Republic Diversified Banks - Maintaining Neutral ratings on Komercni and Moneta
- Latin America
- Western Europe
- UK Economics - BoE - Steady as she goes
- UK Economics - Labour Market Release: Labour market data for April more hawkish, but still cooling
- Grafton Group PLC (GFTU_u.L) - Post CMD model update: Medium-Term Value Creation Despite Near-Term Headwinds
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Authors
Rohit ModiCarl Murdock-SmithNitai ChandodeAndrzej PowierzaSofia FaluNicolas SherlingMay RostomCallum McLaren-StewartJamie SearleEphrem RaviOmnath Sinh
Securities
EAND.ADFalabellaGFTU_u.L
Themes
Resilience in emerging marketsCentral bank demand managementPost-crisis operational recovery
Regions
Asia PacificMiddle EastEuropeUnited Arab EmiratesChileCzech Republic