Citi
June 11, 2026
The Point For CEEMEA
Daily UpdateEquitiesMacro Economic IndicatorsRates Govt BondsConsumer DiscretionaryConsumer Staples
This report provides an update on CEEMEA markets, including company-specific downgrades, regional economic insights, and global thematic strategy views. Key highlights include outlook revisions for Eurocash and Spar Group, and policy expectations for the CNB and ECB.
Key Takeaways
- 1.Eurocash outlook cut; net loss expected in 2026 due to softer LFLs and network reductions.
- 2.Spar Group reported a significant EBIT miss in South Africa driven by higher operational costs (opex).
- 3.Expectation of a 25bp 'preventive' rate hike by the Czech National Bank (CNB) in June.
Table of Contents
- Top Call
- South Africa
- Emerging Europe
- Must Read
- Sector
- Artificial Intelligence - Citi's Inference Ahead - Rationing Comes for Us All
- Global Sporting Goods - Data highlight broadly stable momentum across brands
- Global Theme Machine - AI and Industrial Themes Extend Their Lead
- Strategy & Economics
- CEEMEA – Forthcoming Corporate Access
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Authors
Rafal WiatrSa'ad ChothiaPiotr Dzieciolowski
Securities
EUR.WASPPJ.J
Themes
AI Inference RationingUS Exceptionalism
Regions
EuropeAsia PacificSouth AfricaPolandUnited States