Epstein Secrets

to most preferred list & removes POLY LN from least preferred list, DB downgrades OGKE RX ••• Citi downgrades RMV LN, Exane initiates ALIV SS (op), Bernstein upgrades REL LN, Macquarie downgrades TSCO LN • Davy upgrades WOS LN, Beka upgrades EBRO SM, Equinet downgrades VIH GY, Citi initiates ZPLA LN (n)

es Flash PMI Sept, Earnings (MU, NKE) Friday: Q2 GDP, Michigan Consumer Confidence, China Industrial Profits August, Earnings (FINL) Key Events on the Horizon Oct 2 — ECB publishing details of ABS purchases Oct 5 — Brazil presidential election Oct 6 — T+2 settlement across EEA countries (plus Switzerland)

lays downgrades ATL IM, Citi upgrades PNL NA ••• Liberum upgrades LMI LNM, Raja upgrades WOS LN, BofA downgrades ULE LN, KBC downgrades TNET BB ••• Bernstein initiates STJ LN (mp) & HU LN (up), Canaccord upgrades FLG LN and initiates DJI LN (h) ••• Carnegie downgrades STL NO & TGS NO, Handelsbanken upgrad

US Q2 GDP, Michigan Consumer Confidence, Ryder Cup begins at Gleneagles (Scotland), (China Industrial Profits August, Earnings (FINL) Key Events on the Horizon Oct 2 — ECB publishing details of ABS purchases Oct 5 — Brazil presidential election Oct 6 — T+2 settlement across EEA countries (plus Switzerland)

ange) US Key Research: Stifel initiates Shippers — STNG/NNA/CPLP/TNP/ANW (buys) & DSX/NMM/CMRE (holds) & SSW (sell) ••• Wedbush initiates UA (op), Bernstein initiates FOXA (op), B. Riley initiates GUID (buy) • Raja downgrades CTXS, RBC initiates VTG, DB upgrades LNC/MET (buy), Citi initiates HCN (neut)

I) EFTA00387196 Sunday: Upper House elections in Japan, Portugal "national salvation pact" deadline between 3 top political parties Key Events on the Horizon July 31 - FOMC rate decision August 1 — BOE/ECB rate decisions (Mark Camey to present review of forward guidance) August 21 — Fed Minutes from July3