IMG LN, CBK resume SW1 GY (h) ••• Akros upgrade PC IM, HSBC downgrade ERF FP, downgrade NOEJ GY, ETL FP, CRST LN • Exane downgrade DIA SM, GFS LN, PP FP, upgrade RMS FP, initiate MSK IM (op), RBC downgrade GFS LN ••• SocGen downgrade ARL GY, ENEL IM, Beren downgrade PSM GY, Numis downgrade MARS LN •

grade AOX GY, DEB LN, RGU LN, GRI LN, remove EKTAB from analyst focus list • BERN positive on Luxury: (CFR VX, 1913 HK (Prada), MC FP (op), BRBY LN, PP FP, UHR VX (mp), RMS FP (up) ••• Citi upgrade SESG FP,UBS upgrade GFC FP, downgrade LAD LN, CS downgrade LRE LN, upgrade TSCO LN ••• GS upgrade SPM IM