UK and European Research at a Glance

This report provides a summary of RBC Capital Markets' research across UK and European markets for June 10, 2026. It highlights equity rating changes, industry commentary on metals and luxury goods, and investment strategy updates.

Key Takeaways

• 1.adidas AG upgraded to Outperform due to DTC-led revenue growth and discounted valuation.
• 2.Vistry rated Underperform as the company aggressively cuts house prices to drive sales.
• 3.Industrial metals remain sensitive to macro headlines, with rate hike expectations and a stronger dollar weighing on copper.

Table of Contents

• Premium Research
• Rating Revisions
• Company Comments
• Industry Comments
• Investment Strategy Research
• Quick Takes
• Disclaimer