ZG GY • BofAML downgrade RSL LN, upgrade LGEN LN, Citi downgrade SW FP, ALV GY • Danske upgrade ROCKB DC, DBK upgrade EBS AV, RBI AV, MAQ downgrade SVT LN ••• GS upgrade European Banks, Telecoms, UK Homebuilders, downgrade European Media, Industrials, Chemicals ••• HSBC downgrade ML FP, SIX2 GY, initi

• RBC downgrade WOS LN, Citi downgrade EDP PL, BofAML upgrade RICHT HB, Libr u/g PURE LN EFTA00390483 • SocGen downgrade MERY FP, BP IM, upgrade SVT LN, MS upgrade BG/ LN, Numis downgrade CIU LN • Natixis upgrade FDR FP, GFT FR OMV AV, HSBC initiate IMI LN (ow), WEIR LN (n), d/g BBVA SM, SAN SM Rep

HN, Nomura cuts SHW Citi upgrades VNO (buy), Baird initiates VOD (op), DB initiates IDIX (buy) JEFF upgrade CPG LN, MS upgrade KRKA PW, RBC upgrade SVT LN, Kepler upgrade RCO FP MS upgrade ENI IM, MS downgrade REP SM, GS upgrade SWMA SS, Numis downgrade 117 LN Berenberg downgrade VOD LN, Berenberg dow