EUROPEAN M&A: In this report we revisit the outlook for M&A in Europe. We combine fundamental views from our sector analysts to highlight potential targets and likely protagonists and also assess the broader backdrop and likely drivers looking forward from a macro perspective. The level of M&A in Europe is actually running below last year and in fact consistent with the reduced near term appetite apparent in our recent survey of corporate spending. However, we see structural financial support and incentives for a revival domestically but also important external factors. Following a screening we get: Centrica, Euronext NV, Exova, ITV, Shawbrook, Victrex and Zodiac Aerospace. Neutrals include: Aberdeen Asset Management, Entertainment One, Jupiter Fund.