JCDecaux suffered the biggest drop in the SBF 120 index on Monday, following the downgrading of UBS's recommendation on the world's number one outdoor advertising company, which the Swiss bank justified - among other things - by concerns about business activity in China.

At around 12:15 p.m., the stock was down almost 6%, by far the red lantern of an SBF index up 0.6%.

In a report on the European media sector, UBS indicates that it has lowered its recommendation on the stock to 'neutral' following the disappointing economic indicators recently published in China and Europe.

In view of this outlook, the Swiss bank explains that it perceives a 'more balanced' risk/reward profile for JCDecaux, citing increased uncertainty over the timing and extent of the company's earnings recovery.

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