This report provides a comprehensive weekly update on European markets, featuring sector-specific insights on Transportation, Capital Markets, and Industrials/Capex. It includes analyst ratings, key corporate access events, and macro commentary on regional headwinds.
Key Takeaways
- 1.Medium-term capex expectations improved significantly, with 2026 forecasts up c.2pp since March, driven by tech and utilities.
- 2.Public Power Corp (PPC) reinstated at Buy, viewed as a key electrification and datacenter play with 18% upside potential.
- 3.European cement price increases are driven by market consolidation and supply-demand balance rather than direct CO2 cost pass-through.
Table of Contents
- Europe Transportation: Airports
- European Capital Markets: Key themes shaping Capital Markets
- Multi-Industry Capex Tracker
- Datacentres (Buy Schneider, on CL) and Semis (Buy VAT)
- Public Power Corp. (DEHr.AT): A key electrification play
- GEA Group (G1AG.DE): Leading technology supplier for food and pharma
- Europe: Construction: Heavyside Materials: CO2 costs aren't passing through to European Cement prices
- Other notable research
- Upcoming Webinars
- Corporate Access over the next 3 months
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Authors
Sahar Islam
Securities
DEHr.ATG1AG.DE
Themes
AI Capex BoomEnergy Headwinds
Regions
EuropeGermanyBrazil