OOM • JPM upgrades WHF/SC/AINV, B. Riley downgrades INTC, Steme Agee upgrades FDO Europe Key Research: • Citi upgrades PSM GR, CS upgrades CGL LN, CM-CIC upgrades ACA FP (buy) • DB resumes F IM (sell) & upgrades VOLV.B SS, Liberum upgrades CSR LN (buy) • Danske Bank downgrades ATRAV FH, Exane upgrade

(buy) • JPM initiates AO LN (ow), Kepler upgrades VIS SM and VOS GY/PSG SM/BDL SM (buy) • Nordea downgrades OTE1V FH (sell), UBS downgrades PC IM, CM-CIC downgrades EN FP (sell) • Kepler upgrades ZOT SM & cuts ROVI SM & reinstates SCYR SM (buy) and FCC SM (reduce) • Canaccord cuts SYR LN (sell) & upg