Recommendation and Disclosures

Transcription

1 Recommendation and Disclosures 23/08/2018 MainFirst Disclosure of Interests and Conflicts of Interest Pursuant to Commission delegated Regulation (EU) 2016/958, Section 85 WpHG and any further applicable rules in case of distribution through its affiliates, MainFirst has to disclose relationships and circumstances that may create conflicts of interest (see CoI Disclosure in CompanySpecific Disclosures of Interest or Conflicts of Interest ) because they could impair the impartiality of the producer(s), MainFirst including its affiliates or any other persons or entities that are acting on their behalf and are involved in the production of the recommendation. Moreover, MainFirst has to disclose, on a quarterly basis, the proportion of all recommendations ( Recommendation ) that are buy, hold, sell or equivalent terms ( Outperform, Underperform ), as well as the proportion of issuers ( Company ) corresponding to each of these categories to which MainFirst has supplied material investment banking services ( Investment Banking Services ) over the previous 12 months (see Distribution of Equity Research Recommendations ). MainFirst Disclosure of Interests and Conflicts of Interest Only if explicitly stated herein, the author(s), MainFirst, its affiliates, any other persons or entites involved on their behalf in the preparation of the recommendation: Key 1 Key 2 Key 3 Key 4 Key 5 Key 6 Key 7 Key 8 Key 9 Key 10 Key 11 hold a net long or short position exceeding the threshold of 0.5% of the total issued share capital of the subject issuer or the subject securities or other financial instruments (the Company or the Companies ) calculated under computational methods required by German law (data as of the last trading day of the past month) act as a market maker or liquidity provider in the financial instruments of the Company belong to a consortium as a lead manager or co-lead manager of any publicly disclosed offer of financial instruments of the Company over the previous twelve (12) months form party to any other agreement with the Company relating to the provision of investment banking services that has been in effect over the previous twelve (12) months or has given rise during the same period to the payment of a compensation or expects to receive or intends to seek compensation for investment banking services from the Company in the next three (3) months. form party to an agreement with the Company relating to the production of the Publication or any recommendation (this includes agreements concerning the production of commissioned research) act as a corporate broker to the Company have a material conflict of interest at the time of distribution of the Publication or any other significant financial interest in relation to the Company have received non-investment banking related compensation from the Company within the past year the aforementioned person(s) or a member of his/her/their household(s) respectively persons closely associated with them is an officer, director, or advisory board member of the Company. the Company holds shares exceeding 5% of the total issued share capital of MAIFIRST or any of its affiliates a draft of this Publication was shown to the issuer (for fact checking purposes) and changes have been made to this report prior to its publication. Recommendation o. of Companies As a % of Total Banking Services Provided As a % of Total Company Recommendation Main First Disclosure 3U HOLDIG AG Key 5 A2A Abertis AB AMRO Acea Adecco adidas Group AEA Aéroports de Paris Air France - KLM Air Liquide Aixtron Allianz

2 Amplifon S.p.A. ams Anima Holding Key 1 AP Moeller Maersk Arbonia AG Arkema Aryzta Ascom ASML Atlantia Atos Austrian Post Azimut Bâloise Banca Generali Banca Mediolanum Banque Cantonale Vaudoise Barry Callebaut BASF Bayer Beiersdorf Belimo Bertrandt Key 1 Bilfinger SE Biotest AG BMW BP Paribas Bossard Bouygues bpost Brenntag AG Bucher Industries Burberry Burckhardt Compression Capgemini Cellnex Cembra Clariant Commerzbank Continental AG Conzzeta AG Covestro Crédit Agricole SA Credit Suisse Credito Valtellinese Key 3 Croda

3 CTT cyan AG Key 3 d Amico International Shipping S.A. Key 5 Daimler Danone Dassault Systèmes Deutsche Bank Deutsche Post DHL Dialog Semiconductor DKSH dormakaba Drägerwerk DSM DSV Dufry Dürr Key 1 DWS easyjet Edenred EFG EI Towers Elis ElringKlinger Emmi EMS-CHEMIE Endesa Enel Eurofins Evonik Faurecia FCA Fineco Forbo Fraport AG Fresenius Medical Care Fresenius SE Fuchs Petrolub Galenica Ltd. GAM GEA Geberit Gemalto Georg Fischer German Startups Group Key 5 Gerresheimer AG Givaudan

4 GlaxoSmithKline G Store ord A/S Grifols S.A. Groupe PSA Hannover Re Hapag-Lloyd Hella Key 1 Helvetia Henkel Hera HHLA AG Hochdorf Hochtief AG Hugo Boss AG Iliad Implenia Inficon Infineon IG Group Ingenico Int. Airlines Group Interroll Inwit Iren Italgas JCDecaux JOST Werke AG Julius Baer Jungheinrich K + S Kaufman & Broad Key 5 KBC Group Kering KIO KOE Korian Krones Kühne + agel L Oréal Lagardère Lanxess Leoni Leonteq Linde Lindt & Sprüngli LA Santé

5 Logitech Lonza Lufthansa AG LVMH M6 MagForce AG Key 5 Mediaset Merck KGaA Michelin Munich Re Mynaric Ag Key 5 atixis emetschek SE eopost estle exity ike ordex SE ORMA Group ovartis OC Oerlikon Orange Orpea Panalpina Partners Group Pfeiffer Vacuum Technology AG Plastic Omnium Porsche Automobil Holding SE PostL Prada ProCredit Key 5 Publicis Puma SE Qiagen Rai Way Renault SA Rheinmetall Rhön Klinikum Richemont Rieter Ringmetall AG Key 5 Roche Ryanair SAF-Holland SA Salvatore Ferragamo Sanofi

6 SAP SE Sartorius AG Schaeffler Schindler Scor SFS Group Shire Sias Siemens Siemens Healthineers Sika Siltronic AG Snam SP SE Société Générale Sodexo Software AG Solvay Sonova Stabilus Stada AG STMicroelectronics Strabag SE Straumann Ströer STS Group AG Key 1, Key 3 Sulzer Swatch Group Swiss Life Swiss Re Swissquote Symrise Talanx Teleperformance Temenos Terna TF1 Tod s TUI AG u-blox Holding AG UBS UniCredit Unilever Valeo Valiant va-q-tec Key 1

7 Vifor Pharma Vivendi Volkswagen Vontobel Wacker Chemie AG Wienerberger William Demant Wirecard Worldline WPP Zehnder Zurich Airport Zurich Insurance Group