>>> Up
*AB INBEV RAISED TO NEUTRAL VS REDUCE AT NOMURA
*ADECCO RAISED TO OVERWEIGHT VS NEUTRAL AT HSBC
*BERENDSEN RAISED TO BUY FROM HOLD AT PEEL HUNT
*BHP RAISED TO BUY VS NEUTRAL AT CITI
*FRESNILLO RAISED TO OUTPERFORM AT BMO CAPITAL MARKETS
*KPN RAISED TO BUY VS NEUTRAL AT CITI
*LEGRAND RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*NORSK HYDRO RAISED TO BUY VS HOLD AT SOCGEN
*OZ MINERALS RAISED TO OUTPERFORM AT MACQUARIE
*PERNOD RAISED TO BUY VS NEUTRAL AT NOMURA
*POLYMETAL INTERNATIONAL RAISED TO BUY VS NEUTRAL AT UBS
*SKF AB RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT BARCLAYS
*TALANX RAISED TO BUY FROM HOLD AT HELVEA
*TELECOM ITALIA RAISED TO NEUTRAL VS REDUCE AT NOMURA
*UNITED UTILITIES RAISED TO OVERWEIGHT AT MORGAN STANLEY
*WEATHERFORD RAISED TO BUY VS HOLD AT SOCIETE GENERALE
*ZURICH INSURANCE RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
>>> Down
*ARKEMA CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*C&C GROUP CUT TO NEUTRAL VS BUY AT NOMURA
*CA IMMO CUT TO HOLD VS BUY AT DEUTSCHE BANK
*CHR HANSEN CUT TO HOLD VS BUY AT SOCGEN
*INTERTEK CUT TO HOLD VS BUY AT BERENBERG
*KCELL CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
*SYNTHOMER CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*SWISS RE CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*YARA CUT TO UNDERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
>>> PT Changes
*BURBERRY PT RAISED TO 1,512P VS 1,500P AT CANTOR; KEPT AT HOLD
>>> Initiation
*METRO RATED NEW BUY AT EQUINET; PT EU43
*MEGGITT INITIATED AT OUTPERFORM AT BERNSTEIN; PT 665P
*MTU AERO ENGINES RATED NEW UNDERPERFORM AT BERNSTEIN; PT EU61
*TELECOM ITALIA RATED NEW HOLD AT JEFFERIES, PT EU0.74
>>>Call
>> Stock
*Intesa Still Preferred Over UniCredit at Exane; PTs Increased
*Buy ING, Restructuring Nearly Complete, Dividends to Come: UBS