>>> Up
*A2A RAISED TO BUY VS ADD AT BANCA IMI
*MICHAEL PAGE INTL. RAISED TO ’BUY’ AT JEFFERIES
*MOLESKINE RAISED TO OUTPERFORM VS NEUTRAL AT MEDIOBANCA
*MTU AERO ENGINES RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*RBS RAISED TO HOLD VS SELL AT INVESTEC
>>> Down
*BILFINGER CUT TO UNDERPERFORM VS NEUTRAL AT EXANE
*CAIRN ENERGY CUT TO NEUTRAL VS BUY AT GOLDMAN
*ESURE CUT TO HOLD VS ADD AT NUMIS
*FACC CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*RCS CUT TO HOLD VS BUY AT KEPLER CHEUVREUX
*INFINEON CUT TO MARKET PERFORM AT SANFORD BERNSTEIN
*KRONES CUT TO HOLD VS BUY AT DEUTSCHE BANK
*LOGITECH CUT TO UNDERWEIGHT AT JPMORGAN
*LUNDBECK CUT TO SELL VS NEUTRAL AT UBS
*KGHM CUT TO UNDERWEIGHT VS OVERWEIGHT AT JPMORGAN
*KIER GROUP CUT TO HOLD VS BUY AT LIBERUM
*TT ELECTRONICS CUT TO ADD VS BUY AT NUMIS
*TYMAN CUT TO HOLD VS BUY AT LIBERUM
*WORLD DUTY FREE CUT TO NEUTRAL VS BUY AT CITI
>>> PT Change
>>> Initiation
*ABB RATED NEW NEUTRAL AT NOMURA, PT CHF21
*ANHEUSER-BUSCH INBEV RATED NEW NEUTRAL AT EXANE, PT EU119
*ATLAS COPCO RATED NEW REDUCE AT NOMURA, PT SEK225
*CARLSBERG RATED NEW OUTPERFORM AT EXANE, PT DKK685
*HEINEKEN RATED NEW UNDERPERFORM AT EXANE, PT EU71
*HEXAGON RATED NEW BUY AT NOMURA
*IMI RATED NEW REDUCE AT NOMURA, PT 1,175P
*PLAYTECH REINITIATED BUY AT INVESTEC, PT 840P
*ROTORK RATED NEW NEUTRAL AT NOMURA, PT 2,500P
*SABMILLER RATED NEW OUTPERFORM AT EXANE, PT 4,000P
*SANDVIK RATED NEW BUY AT NOMURA, PT SEK105
*SCHNEIDER ELECTRIC RATED NEW BUY AT NOMURA, PT EU80
*SCS GROUP RATED NEW BUY AT INVESTEC, PT 270P
*SIEMENS RATED NEW NEUTRAL AT NOMURA, PT EU100
*SKF RATED NEW NEUTRAL AT NOMURA, PT SEK196
*SMITHS GROUP RATED NEW BUY AT NOMURA, PT 1,270P
*SULZER RATED NEW REDUCE AT NOMURA, PT CHF95
*WEIR GROUP RATED NEW NEUTRAL AT NOMURA, PT 1,600P
>>> Call
>> Stock
*TELECOM ITALIA, NOVO NORDISK EXIT GOLDMAN DOR FOCUS LIST
*CONTINENTAL REMOVED FROM FOCUS LIST AT CREDIT SUISSE
>> Sector
*EUROPEAN CAPITAL GOODS SECTOR RATED NEW NEUTRAL AT NOMURA