s PACB Europe Key Research: ••• Liberum upgrades SDF GY & ICL IT, Jefferies initiates SRG IM (buy), Citi downgrades G IM (sell), Barcap downgrades CCH LN • Alpha Value downgrades SWEDA SS, Berenberg initiates IFX GY (buy) & STM FP (sell), Mediobanca downgrades GAS SM • Berenberg initiates ELIS FP (b

FH, Numis downgrades SDL LN & BBY LN, HSBC downgrades SDR LN • DB downgrades TTI GY, Baader downgrades GWI1 GY, SocGen upgrades KRZ ID & downgrades CCH LN Reporting Pre-Open: NRG, ABFS, ANIP, ASFI, BECN, CPK, DRH, EBIX, EVEP, FSS, GSE, HNR, HZNP, JRCC, LABL, LACO, LIWA, MEA, MHR, MINI, MPAA, MRGE, RDN