>>> Up
*BAE SYSTEMS RAISED TO BUY VS HOLD AT SOCGEN
*BOVIS HOMES RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*EURASIA DRILLING RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*EURASIA DRILLING RAISED TO BUY VS NEUTRAL AT BOFAML
*KUDELSKI RAISED TO NEUTRAL VS SELL AT UBS
*RIETER RAISED TO BUY VS NEUTRAL AT UBS
*SEADRILL RAISED TO OVERWEIGHT AT HSBC
*TECHNIP RAISED TO BUY VS HOLD AT SOCGEN
>>> Down
*BARRATT DEVELOPMENT CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*CAP GEMINI CUT TO NEUTRAL VS BUY AT CITI
*GLENCORE XSTRATA CUT TO NEUTRAL AT JPMORGAN
*GLOBAL TELECOM CUT TO NEUTRAL VS BUY AT GOLDMAN
*ICADE CUT TO HOLD VS BUY AT SOCGEN
*MLP CUT TO UNDERWEIGHT AT HSBC
*ORANGE POLSKA SA CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*OTE CUT TO NEUTRAL VS BUY AT GOLDMAN
*SAFRAN CUT TO HOLD FROM BUY AT DEUTSCHE BANK
*SMITHS GROUP CUT TO SELL VS NEUTRAL AT UBS
>>> PT change
>>> Initiation
*BODYCOTE RATED NEW BUY AT UBS, PT 800P
*HALMA RATED NEW NEUTRAL AT UBS, PT 600P
*IMI RATED NEW NEUTRAL AT UBS, PT 1,600P
*MORGAN ADVANCED MATERIALS RATED NEW BUY AT UBS, PT 370P
*VESUVIUS RATED NEW SELL AT UBS, PT 440P
*XAAR RATED NEW NEUTRAL AT UBS, PT 1,150P
>>> Call
>> Stock
*BARCLAYS REMOVED FROM EUROPE 1 LIST AT BOFAML
*DUERR REMOVED FROM LEAST PREFERREDS, WARTSILA ADDED AT UBS
*VESUVIUS ADDED TO LEAST PREFERREDS, BODYCOTE TO MOST AT UBS