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European equities are valued for a sharper slowdown than looks likely, said strategists at HSBC, but investors should keep their powder dry for further falls first.
Medical products and technologies company ConvaTec fell on Friday as UBS downgraded the stock to 'neutral' from 'buy' and slashed the target price to 150p from 250p, pointing to a slowdown in the wound market - to which the group is over-exposed - and limited progress in the ostomy turnaround.
