Epstein Secrets

7% at 1992 congress, -16% following week Source: Bloomberg Secondaries (announced/priced): GNC. LGCY. MTZ,

es ED/SO, Wedbush initiates CREE (op) Citi cuts LFUGOUDVN & upgrades ROSE, HSBC downgrade CSGN VX, CBK cuts LXS GY DNB downgrade SCH NO, UBS remove FR FP most preferred, Bern upgrade LLOY LN HSBC upgrade MKS LN, Swedbank downgrade GN DC, ABN initiate KPN NA (hold) UBS upgrade IMG LN, HSBC upgrade FNT

Jobless Claims @ 8:30am, Markit US PMI @ 8:58am, Bloomberg Consumer Comfort @ 9:45am, Construction Spending

nitiates EVC (ow) Europe Key Research: • DB downgrade OTE1V FH, reinstate ABI BB (b), Nomura upgrade AC FP ••• GS remove HOT GY from cony buy, dig FR FP, initiate ANH LN (b), initiate ANH LN (b) ••• UBS upgrade APN SJ, GBF GY, KPN NA, Bern downgrade BARC LN • JP downgrade URKA LI, COLR BB, Barc -Eve

1.5 -2 -2.5 -3 Source: Bloomberg Italian Retail Sales 1.00% 0.00% -1.0094 -2.00% -3.00% -4.00% -5.00% .6.00% cc es. ares, s.)Y Source. Bloomberg Corporate EBIT Margins (ex Financials) close to 10 year low enables strong profit growth BERN DYNAMIC LIP 14.00% 13.0096 12.0096 11.0096 10.00

CA FP CARREFOUR SA CAP FP CAP &MN! DGFP VINO SA (PIMP (ADS NV EDF FP EDF El FP ESSILOR INTERNATIONAL EN FP BOUTGUES SA FP FP TOW SA FR FP FRANCE TELECOMSA GU FP GOF SUEZ GTO FP GEMALTO Electronic & Electrical (Quinn LG FP WANG( SA ConstiuctIon & %%tonal, LR FP LEGRAND SA Ele