d Cameron Independent • New signs the economy has stopped flat-lining Independent • Postal union seeks unholy alliance of left and right to block Royal Mail sale The Observer • It's not the deficit that will haunt our children: it's unemployment The Observer Key Events This Week Tuesday: German ZEW, N

endent.co.uk/news/business/news/dividend-payments-set-to-climb- to-record-75bn-7576946.html> Budget announcement could pave way for privatization of Royal Mail The Times<http://www.thetimes.co.uk/tto/news/politics/article3355968.ece> FTSE 100 to double to record high in next decade Telegraph<http://www.te

OW <2kg): RS875496470GB For international customers, your code can be used to track your parcel from our collection point to its leaving the UK via Royal Mail. In order to do this, please follow the link below: https://www.royalmail.com/track-your-item To continue to track its progress beyond this point,

ult, Royal Dutch Shell, RWE - TMT: Eutelsat, Infineon, Informa, KPN, Sophos, Vodafone - Business Services, Leisure & Transport Deutsche Lufthansa, Royal Mail, SGS, Vinci ■ One slide per stock, valuation and catalysts plus links to the latest research. ■ The prior iteration (04-Oct-17) [AB Foods, BAT, Bov

hell RWE Eutelsat - SELL Infineon Informa KPN Sophos Vodafone ■ Business Services, Leisure & Transport - Page 39 Deutsche Lufthansa Page 40 Royal Mail - SELL Page 41 SGS Page 42 Vinci ■ Risk Statements ■ DB Forecasts Editors: Mark Braley, Vivek.G Midha and Mairead Smith "s Equity Focus —Janua

Inc FTNT.OQ Roche ROG.S ArcelorMittal MT.AS Fresenius FREG.DE Royal Dutch Shell Plc RDSa.L Aroundtown Properties AT1.DE Geberit GEBN.S Royal Mail RMG.L AstraZeneca AZN.L Glencore GLEN.L RWE RWEG.DE AXA AXAF. PA Informa PLC INF.L SES SESFd.PA B&M BMEB.L Infineon Technologies IFX

regulatory restrictions on mainland China sales into HK or a failure by the new US administration to modify the previously planned DOL changes. ■ Royal Mail - RMG.L: Upside risks include faster execution of the transformation plan, better pricing in UK parcels, higher parcel volumes than forecast, no in

To: Jeffre E Win'eevacaeon maiLconl] From Sent: un • • . . In the press today that UK government may sell Royal Mail. Should I discuss with PA? EFTA_R1_01485517 EFTA02419793