BUZZ-European Consumer Staples: Citi prefers ABInBev, Danone, Glanbia
** Citigroup expects staples to struggle near-term, with earnings momentum stalling and little prospect of FY guidance upgrades over Q2 earnings season
** Beverages: The brokerage says the universe of potential outperformers is narrowing and points to poor weather, tough comps and stretched valuations
** Citi prefers ABInBev over Carlsberg
** For Food/HPC the broker expects "some improvement" in Q2, but notes most stocks require a notable step-up in H2 to deliver FY expectations
** Prefers Danone and Glanbia over Beiersdorf
** Says on Tobacco: "Excellent results from PM (Philip Morris), mixed numbers elsewhere," adding it expects Philip Morris' management to raise its guidance
** At Altria Group it expects above-consensus EPS while British American Tobacco has guided to relatively modest NextGen sales