BUZZ-UK pubs: 'Don't rush to the bar' - HSBC
** HSBC takes a more negative stance on UK pubs stocks, cutting Greene King (Frankfurt: A0F66P - news) (-4.9%) to 'reduce' and JD Wetherspoon to 'hold' (-0.6%)
** The brokerage points out the sector faces twin risks from consumer weakness and rising input costs
** It is especially worried about the continued increase in costs and the ease with which this can be mitigated
** HSBC flags concerns over Greene King's cost outlook
** Broker sees JD Wetherspoon as best placed to trade through the weakness, though the strong share price performance means it's no longer cheap in the circumstances
** HSBC keeps 'hold' on Marston's (-1%) and M&B (+0.6%)