Epstein Secrets

y/y vs est +3.0%) helped extend gains in the ASX200. Europe an markets mostly higher on the follow-thru with Telecom, Autos, Tech leading the way. Vodafone +6.5% following yesterday's ADR move on the back of reports of potential Verizon merger. Peripheral yields pulling back with the Italy 10yr -9bps to

•• Citi upgrade SESG FP,UBS upgrade GFC FP, downgrade LAD LN, CS downgrade LRE LN, upgrade TSCO LN ••• GS upgrade SPM IM, EMGS NO, downgrade ANA SM, BofAML downgrade ASELS TI, Shorcap upgrade TSCO LN EFTA00394117 • SocGen upgrade YKBNK TI, initiate GIB GY (b), Natixis downgrade EDP PL, upgrade MPI LN,

kia receives Moody's downgrade, cut to B1 with negative outlook (trading -4.4%) • Liberty Global said unlikely to raise Kabel Deutschland bid after Vodafone (BB) (KD8 GY trading -0.07%) • Dentsu to raise as much as 120.1 billion Yen in public share sale to finance the Aegis deal Leading European Sector

N ••• UBS make AVV LN most pref stock — replaces FENR LN, HSV LN least pref stock — replaces RSW LN ••• MS resume LSE LN (ow), DB downgrade ADS GY, BofAML upgrade UHR VX, Numis downgrade DOM LN ••• JPM downgrade BMW GY, APPC AB, upgrade PETROCH AB, NOK1V FH, Exane downgrade FME GY • Nomura upgrade ELI

aranoid worldview WSJ • Gold plunge is cause for optimism WSJ • IBM Finds Itself Singing the Growth Blues WSJ Heard on the Street • Optimism of Vodafone deal as buyer sees tax light The Times • Carney warns Britain is a 'crisis economy" Telegraph • Financial transaction tax contravenes G20 agreeme

oved, upgrade TCELL TI, TRMK RM, PHOR RM, SZG GY, downgrade TAVHL TI, SHI LN • Barc initiate KYG ID (ow), Citi upgrade TNET BB, CS downgrade SW FP, BofAML remove SOLB BB from Europe 1 list e DB upgrade UBSN VX, BNP FP, GS add MC FP, BRBY LN, REE SM, ITX SM to cony buy list — SFER IM removed • HSBC upg