LN, downgrade 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

initiate KYG ID (ow), Citi upgrade TNET BB, CS downgrade SW FP, BofAML remove SOLB BB from Europe 1 list e DB upgrade UBSN VX, BNP FP, GS add MC FP, BRBY LN, REE SM, ITX SM to cony buy list — SFER IM removed • HSBC upgrade SBS GY, JPM downgrade MLP GY, RAL FP, CO FP, RBC upgrade FRES LN • MS upgrade FUM