The Point for Europe

Citi's 'The Point for Europe' highlights a tactical preference for UK large caps over domestic stocks following local elections. The report also features ratings downgrades for Norsk Hydro and Yara International while noting firming global manufacturing activity.

Key Takeaways

• 1.UK local elections and a potential Labour leadership challenge favor international large caps (FTSE 100) over domestic stocks (FTSE 250).
• 2.Norsk Hydro downgraded to Neutral following a 25% rally as risk/reward becomes less attractive despite low valuation.
• 3.Flutter Entertainment faces a 19% downside risk to 2H26 US EBITDA consensus despite recent guide updates.

Table of Contents

• Top Call
• Must Read
• Company
• Industry
• Strategy & Economics
• Commodities
• Fixed Income & FX
• Key Rating and Target Price Changes
• Appendix A-1

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial