RBC Capital Markets
May 11, 2026
UK and European Research at a Glance
Daily UpdateEquitiesMacro Economic IndicatorsCommoditiesEnergyFinancials
A comprehensive daily digest of RBC's UK and European equity research, highlighting an upgrade for BP and sector-specific analysis on pest control, retail, and market infrastructure.
Key Takeaways
- 1.BP p.l.c. upgraded to Outperform as high commodity prices and new management offer a 'second chance' to deleverage and restore investor confidence.
- 2.Pest control companies (Rollins, Rentokil) saw significant website traffic growth in April (+23.2% y/y) as favorable weather patterns normalized following a slow January.
- 3.European retail analysts favor Inditex and Next over Associated British Foods and H&M due to their operational flexibility in an environment of 15-30% raw material cost inflation.
Table of Contents
- Premium Research
- Rating Revisions
- Company Comments
- Industry Comments
- Investment Strategy Research
- Quick Takes
- Disclaimer
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Authors
Ashish SabadraBiraj BorkhatariaLori Calvasina
Securities
BPCBKEPIAPandoraROL
Themes
Q1 Earnings and Model UpdatesWeather Sensitivity in Service SectorsEnergy Major Balance Sheet Restructuring
Regions
EuropeNorth AmericaUnited KingdomGermanyItaly