This week's most read research: Equities – Europe's top ten

Deutsche Bank's weekly periodical (26 September 2026) compiling its ten most-read European equity research items. Coverage includes: German defense, where the traditionally dominant private sector sees large firms outnumber public ones almost two to one and is the source of critical innovation, the solution to supply-chain issues, and the venue for a future wave of M&A, consolidation and IPOs; Deutsche Numis Real Estate, where income is expected to keep outperforming capital growth after another step up in rates, with DB expecting two hikes taking Bank Rate to 4.25%; German Residential, where the Berlin election outcome is a modest negative given Left Party advocacy of housing socialization; European Utilities, where 2027 gas forwards have doubled and power prices are up over 50%, boosting mark-to-market earnings projections above consensus; Volkswagen, where the 1% margin headline overstates deterioration as ~€10bn of special effects imply an underlying margin of roughly 4%;