This report provides an update on CEEMEA markets, including corporate model revisions for Naspers and Richemont, UAE real estate outlooks, and regional equity positioning.
Key Takeaways
- 1.UAE real estate stocks (Emaar, Aldar, Dubai Residential) show limited expected impact on headline P&L for 2Q26 results despite recent price declines.
- 2.Naspers target price reduced to ZAR1,090 due to Prosus valuation adjustments following FY26 results.
- 3.BIM Birlesik Magazalar announced a new TL1bn buyback program, consistent with historical buyback timing.
Table of Contents
- Top Call
- South Africa
- Emerging Europe
- Strategy & Economics
- Fixed Income & FX
- CEEMEA – Forthcoming Corporate Access
- Key Rating and Target Price Changes
- Appendix A-1
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Authors
Rahul BajajNitesh AgarwalMonique Pollard
Securities
NPNJn.JEMAR.DU
Themes
Corporate BuybacksMarket Positioning
Regions
EuropeAsia PacificSouth AfricaUAE