Epstein Secrets

arnegie upgrades METSB FH • Evercore downgrades UHR VX, Evli downgrades LAT1V FH, GS removes ABBN SW from CL Sell list, JPM downgrades PAG LN ••• Kepler upgrades NESTE FH, LBBW upgrades UBSG VX & downgrades ABBN VX, Numis upgrades JMAT LN ••• MainFirst upgrades DSV DC, PWTN SW, KNIN VX & downgrades M

basic resources are leading the way. One of yesterday's laggards the banks rebound and outperform despite mixed results. ING (+10%), DNB (+2%) and SEB Enskilda (+7%) produce strong O4 results with Credit Suisse (-11%) posting large impairments and a O4 loss in what feels like a kitchen sinking exercise. Aut

ALO FP & cuts NOVN SW, Barcap upgrades DANSKE DC ••• Nomura downgrades ERICB SS, Nordea cuts LUPE SS & upgrades OPERA NO/NETB SS EFTA00370758 ••• Kepler upgrades LNZ AV (buy), Swedebank downgrades ERICB SS, Pareto cuts HEX NO (sell) DB upgrades PHOR RU (buy), Mediobanca upgrades MSK IM, Berenberg upg

PHOR RU (buy), Mediobanca upgrades MSK IM, Berenberg upgrades TKA AV ••• HSBC downgrades RRS LN/HOC LN & upgrades ABG LN, MS downgrades UMI BB ••• SEB Enskilda upgrades TLSN SS and UNR1V FH (buy) & cuts TRELB SS, Numis cuts BHY LN Reporting Pre-Open: ABC, AET, ALXN, BMS, BTU, CAM, CAT, CCE, CELG, CMS, COG,

A (buy) • Citi upgrades BKIA SM/CABK SM (buy) & cuts KIO SJ (sell), Panmure upgrades PDG LN (buy) • DB downgrades PKN PW, GS upgrades CHR DC (buy), Kepler downgrades CSGN SW • JPM downgrades KNIN SW/GJF NO & upgrades ETE GA, Panmure upgrades PDG LN (buy) • Natixis upgrades WPP LN (buy), Nomura upgrade

& downgrades AKE FP • Equinet upgrades TUI GR (buy), HSBC downgrades DEB LN/TFG SJ/GARAN TI/YKBNK TI ▪ MS upgrades ASC LN & initiates GTT FP (ow), SEB Enskilda upgrades ELUX.B SS (buy) Reporting Pre-Open: ADS, AN, BAX, BBT, BLK, CMG, DD, DHR, DOV, FITB, GE, GS, HON, KEY, MAT, MS, PEP, PM, PPG, SHW, SLB, UN