Citi
May 15, 2026
The Point for Europe
Weekly UpdateEquitiesRates Govt BondsFXConsumer DiscretionaryFinancials
Citi Research reviews a week marked by UK political developments, European equity upgrades for Aberdeen and Safestore, and diverging gold demand in Asia.
Key Takeaways
- 1.The potential return of Andy Burnham to the UK Parliament marks a significant shift for the Labour party's future leadership dynamics.
- 2.3i Group's Action subsidiary is successfully pivoting toward affluent consumers, with high-income households accounting for 50% of new growth since 2020.
- 3.Gold demand is diverging significantly between China (record high demand) and India (duty and currency headwinds).
Table of Contents
- Top Call
- Must Read
- Company
- Industry
- Strategy & Economics
- Commodities
- Fixed Income & FX
- Key Rating and Target Price Changes
- Appendix A-1
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Authors
Callum McLaren-StewartAndrew LoweRoss MacDonaldMay Rostom
Securities
III.LABDN.LCONG.DESHAOn.DECompass GroupSAFE.LAML.L
Themes
UK Labour Party Leadership TransitionResilience of Discount Formats (Downtrading)Diverging Emerging Market Gold DemandDiversification into Humanoid Robotics
Regions
EuropeAsia PacificNorth AmericaUnited KingdomChinaIndia