I BB, GAS SM, initiate AMEAS FH (b), WDF IM (b), YOOX IM (n) ••• SocGen downgrade VIS SM, upgrade BP/ LN, NXI FP, DNB upgrade PRS NO ••• BofAML add NOK1V FH, upgrade PNL NA, downgrade UBSN VX ••• HSBC upgrade EBS AV, UCG IM, Natixis downgrade SWMA SS • Exane add GRF SM to key ideas, Oddo downgrade DIA S

G LN ••• Beren downgrade NRX FP, Nordea downgrade BOCONB DC, upgrade SWMA SS, Investec upgrade TET LN Equita upgrade DIA IM, ATL IM, Danske upgrade NOK1V FH Reporting Pre-Open: CGA, CMRX, CRME, CTC, CYD, EDG, HPJ, ITRN, MACK, MOBI, NAT, NSSC, PERI, POST, SARA, SSYS, SUTR, TLF Reporting Post-Close: AFH,

••• MS resume LSE LN (ow), DB downgrade ADS GY, BofAML upgrade UHR VX, Numis downgrade DOM LN ••• JPM downgrade BMW GY, APPC AB, upgrade PETROCH AB, NOK1V FH, Exane downgrade FME GY • Nomura upgrade ELI1V FH & downgrade TEL2B SS, Carg upgrade GETIB SS, Exane downgrades GFC FP ••• HSBC initiate ROCKB DC (

(up), ALFA SS (up), ATCOA SS (op) • Bern upgrade TEF SM, Beren initiate LO24 GY (b), Equinet upgrade RHM GY, KBC upgrade AKZA NA • Nordea downgrade NOK1V FH, AFB SS, initiate ALGETA NO (b), upgrade NZYMB DC, VAC1V FH Reporting Pre-Open: BHI, COL, FHN, GE, GPC, HON, IPG, KMB, LH, MCD, SLB, STI, STT, ACU,