initiates KYAK (neut) Key Research: DB downgrades SGMS & initiates KYAK (buy), Bofa downgrades VALE, GS cuts DOM LN Key Research: Nomura upgrades ITV LN, Vontobel downgrades BAER VX, Canaccord downgrades AV/ LN Key Research: Citi upgrades DELB BB, MS downgrades PSON LN, Berenberg upgrades TDC DC, K

FH ••• Exane upgrade AAL LN, initiate BPOST BB (n), Equinet downgrade DBK GY ••• KepChev downgrade IVG GY, RHM GY, upgrade IT IM, Numis u/g MEC LN, ITV LN ••• Cana downgrade MONY LN, DGE LN, upgrade MEC LN, reinstate ABI BB (b) EFTA00386264 Reporting Pre-Open: ADT, AGN, AMT, CMCSA, DLPH, EXC, GAS, G