Emerson downgraded to Reduce from Hold at HSBC
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Stagecoach Group downgraded to Reduce from Hold at HSBC
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United Utilities downgraded to Reduce from Hold at HSBC
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Merck KGaA downgraded to Reduce from Hold at HSBC on valuation
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Merck KGaA downgraded to Reduce from Hold at HSBC
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Yanzhou Coal Mining downgraded to Reduce from Hold at HSBC
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Wizz Air downgraded to Reduce from Hold at HSBC
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Unibail-Rodamco-Westfield downgraded to Reduce from Hold at HSBC
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TUI AG downgraded to Reduce from Hold at HSBC
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Carnival downgraded to Reduce from Hold at HSBC
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Kemira downgraded to Reduce from Hold at HSBC
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Evonik downgraded to Reduce from Hold at HSBC
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Elementis downgraded to Reduce from Hold at HSBC
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Aena downgraded to Reduce from Hold at HSBC
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CDL Hospitality Trusts downgraded to Reduce from Hold at HSBC
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Jeronimo Martins downgraded to Reduce from Hold at HSBC
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Lufthansa downgraded to Reduce from Hold at HSBC
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Centrica downgraded to Reduce from Hold at HSBC
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Deutsche Wohnen downgraded to Reduce from Hold at HSBC
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Vonovia downgraded to Reduce from Hold at HSBC
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Cemex downgraded to Reduce from Hold at HSBC
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