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es UBM LN Key Research: Raja initiates Prada (1913 HK) (mp), CS initiates ITX SM (up), Exane upgrades ARM LN, DB downgrades RDSA LN Key Research: Berenberg downgrades SAN FP, Berenberg downgrades RBI AV & EBS AV, Berenberg initiates KBC BB (buy) Reporting Pre-Open: CONN, LDK Reporting Post-Close: CWST
a initiates Prada (1913 HK) (mp), CS initiates ITX SM (up), Exane upgrades ARM LN, DB downgrades RDSA LN Key Research: Berenberg downgrades SAN FP, Berenberg downgrades RBI AV & EBS AV, Berenberg initiates KBC BB (buy) Reporting Pre-Open: CONN, LDK Reporting Post-Close: CWST, PBY Economic Data: Markit
grades ENEL IM, Swedbank downgrades YAR NO, DB upgrades FP FP, HSBC upgrades EFTA00400427 Key Research: RBC upgrades ERICB SS, DB upgrades ETI FP, Berenberg initiates JAZ SM, Investec downgrades UBM LN Key Research: Raja initiates Prada (1913 HK) (mp), CS initiates ITX SM (up), Exane upgrades ARM LN, DB
of 25bps cut) Leading European Sectors: Media +1.24%, Tech +0.85%, Construction +0.82% Lagging European Sectors: Retail -0.15%, Autos/Parts -0.10%, Telco +0.04% SCMP fda approval — HOT new credit facility — PEOP 25c dividend HFF special $1.52 div — DAL talks to buy Singapore Air Virgin stake — TESS c
•••• Commerzbank upgrades MRK GY, Barclays strategy downgrades EM & upgrades Japan, Natixis downgrades IAM FP ••• Barclays reinstates ELPE GA (ew), Berenberg downgrades TATE LN, BofA remains cautious Greek Banks ••• UBS upgrades TATE LN & downgrades ERICB SS, JPM downgrades TATE LN & THR BB, Jefferies dow
g -0.78%) • Building Materials/Construction: U.S. ABI index dipped to 53.0 in August from 55.8 in July Leading European Sectors: Oil & Gas +0.50%, Telco +0.48%, Healthcare +0.38% Lagging European Sectors: Media -0.56%, Autos/Parts -0.51%, Construction -0.46% Secondaries (announced/priced): SDLP, GLO
nitiates PX (neut) ••• Jefferies downgrades SCHN, Bernstein upgrades SYK, Wells initiates UMBF (mp) Europe Key Research: • DNB downgrade MEO1V FH, Berenberg initiate LNZ AV (h) • Citi cut SDR LN from most pref, cut EMG LN from least pref, upgrade TALK LN ••• CBK upgrade FME CY, CS assume LISN SW (n), Ex
ed for negative deposit rate Leading European Sectors: TravlLes +1.71%, Tech +0.92%, Autos/Parts +0.92% Lagging European Sectors: Oil & Gas -0.32%, Telco +0.10%, Utilities +0.16% QIHU revs beat — MNTG no longer in buyout talks — YHOO news anchor deal with Katie Couric Secondaries (announced/priced):
Entities connected to both Berenberg and Telco

Lesley Groff
PERSONIke Groff
PERSON
Bloomberg L.P.
ORGANIZATION
Barack Obama
PERSON
Barron
PERSONJefferies
ORGANIZATION
Horizon
ORGANIZATIONKepler
PERSON
David Cameron
PERSON
Stanford University
LOCATIONNew Home Sales
ORGANIZATION
Bernstein
PERSON
Piper
PERSONStifel
ORGANIZATION
Michigan
LOCATION
Michael Jackson
PERSONBaird
PERSON
Eric Trump
PERSON
Samantha Power
PERSONUS Key Research
ORGANIZATION