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Best mortgage deals of the week

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BUZZ-TUI, Thomas Cook: hit by Credit Suisse downgrades

Reuters - UK Focus

** TUI (LSE: 0NLA.L - news) bottom of FTSE 100, -4.2% & on course for biggest one-day percentage drop since late June, with Thomas Cook (Frankfurt: A0MR3W - news) 2nd-top faller on FTSE 250

** Credit Suisse (IOB: 0QP5.IL - news) double downgrades TUI to "underperform" v "outperform", & cuts rating on Thomas Cook to "neutral" v "outperform"

** On TUI, broker flags tough outlooks for 2 largest markets - UK (33% sales) and Germany (26% sales) - lack of cashflow (avg 2017-20E FCF yield 4.4%) and 50% premium to Thomas Cook

** On Thomas Cook, cites valuation (stock +63% from the post Brexit lows (vs sector +13%) and has reached its TP) & UK/Germany concerns

** Pair trading in strong volumes (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net; RM:alasdair.pal.thomsonreuters.com@reuters.net)