Legrand loses almost 2% under the weight of a recommendation downgrade by UBS from 'buy' to 'sell', with a price target reduced from 108 to 82 euros, on the French electrical infrastructure supplier's share.

Justifying this change by "limited growth potential, cyclical risks and a demanding valuation", the broker shows a preference in the sector for Schindler, Kone and Assa Abloy, the latter being upgraded to 'buy'.

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