>>> Up
*BASHNEFT PREF RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*BOUYGUES RAISED TO HOLD VS REDUCE AT KEPLER CHEUVREUX
*BUZZI UNICEM RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*COCA-COLA HBC RAISED TO BUY VS NEUTRAL AT GOLDMAN
*ERSTE RAISED TO BUY VS NEUTRAL AT UBS
*FLUIDRA RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*IMPALA PLATINUM HOLDINGS RAISED TO NEUTRAL VS SELL AT UBS
*PGE RAISED TO NEUTRAL VS SELL AT GOLDMAN
*REGUS RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*SEVERFIELD RAISED TO BUY VS HOLD AT JEFFERIES
*SHELL RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*WINCANTON RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
>>> Down
*ABERTIS CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*AFRICAN MINERALS CUT TO UNDERPERFORM AT BOFAML
*ANGLO PLATINUM CUT TO SELL VS NEUTRAL AT UBS
*DAIRY CREST GROUP CUT TO SELL VS HOLD AT SOCGEN
*ITALCEMENTI CUT TO NEUTRAL VS OUTPERFORM AT EXANE
*KAZAKHMYS CUT TO NEUTRAL AT BOFAML
*MORGAN ADVANCED MATERIALS CUT TO NEUTRAL AT JPMORGAN
*PAYPOINT CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*PROMETHEAN CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*ROSNEFT CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*SAINT-GOBAIN CUT TO HOLD VS BUY AT SOCGEN
*SURGUTNG PREF CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
>>> PT Change
>>> Initiation
*ALENT RATED NEW BUY AT LIBERUM; PT 400P
*ENEL RATED NEW UNDERPERFORM AT RBC; PT EU4.25
*SNAM RATED NEW OUTPERFORM AT RBC; PT EU4.75
*TERNA RATED NEW SECTOR PERFORM AT RBC; PT EU4
*TYMAN RATED NEW BUY AT UBS; PT 350P
>>> Call
>> Stock
*EDP REMOVED FROM CONVICTION SELL LIST AT GOLDMAN; STILL SELL
* Barcap : Rio Tinto, Agrium, Marathon Oil added; BT Group, Gas Natural, Gazprom, Schlumberger, Wolseley removed.