N (n), ••• BofAML most pref: add ALV GY, remove RSL LN, least pref: add CS FP, SREN SW, remove AML LN, SLHN SW • BofAML upgrade STERV FH, downgrade DAI GY, Barc initiate UKW LN (ew), Citi downgrade SEV FP ▪ DB upgrade LEO GY, initiate ESUR LN (b), Exane downgrade STL NO, IMG LN, Numis initiate ESUR LN

ders FY sales guidance of CHF 8 billion feasible according to Sonntag (trading +1.0%) • Mercedes-Benz Jan-Oct sales +8.0% on year at 169,070 units (DAI GY trading -0.33%) • Italy prosecutors seek trial for 5 and 2 Fitch employees (drop probe on 2 Moody's workers) (DJ) • Global business confidence f