>>> Up
*ALLIANZ RATED NEW BUY AT UBS, PT EU153
*HELLENIC PETROLEUM RAISED TO BUY VS NEUTRAL AT UBS
*NESTE OIL RAISED TO BUY VS NEUTRAL AT UBS
*PADDY POWER RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*PREMIER FARNELL CUT TO SELL VS BUY AT CITI
*RANDSTAD RAISED TO NEUTRAL VS SELL AT CITI
*STADA RAISED TO HOLD AT JEFFERIES
*TUI TRAVEL RAISED TO OVERWEIGHT AT MORGAN STANLEY
>>> Down
*ERICSSON CUT TO HOLD VS BUY AT LIBERUM
*HEIDELBERCEMENT CUT TO SELL FROM NEUTRAL AT UBS
*INDITEX CUT TO MARKET PERFORM VS OUTPERFORM AT RAYMOND JAMES
*INDITEX CUT TO HOLD VS BUY AT DEUTSCHE BANK
*JAZZTEL CUT TO HOLD VS BUY AT BERENBERG
*LUFTHANSA CUT FROM OVERWEIGHT TO NEUTRAL AT HSBC
*MOBILE TELESYSTEMS CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*SIEMENS CUT TO NEUTRAL VS OUTPERFORM AT EXANE
*TELEFONICA DEUTSCHLAND CUT TO NEUTRAL FROM BUY AT GOLDMAN
*WIENERBERGER CUT TO NEUTRAL VS BUY AT UBS
>>> PT Changes
*MEDIOBANCA PT RAISED TO EU7 VS EU6.5 AT NOMURA; KEPT AT NEUTRAL
*POP. EMILIA PT CUT TO EU6.8 VS EU7.1 AT SOCGEN; KEPT AT HOLD
>>> Initiation
*ALLIANZ RATED NEW BUY AT UBS, PT EU153
*AUTOLIV RATED NEW NEUTRAL AT CREDIT SUISSE, PT $112
*BANCO POPOLARE RATED NEW UNDERWEIGHT AT BARCLAYS, PT EU10.4
*ELRINGKLINGER RATED NEW UNDERPERFORM, PT EU25.1: CREDIT SUISSE
*FACC AG RATED NEW OVERWEIGHT AT JPMORGAN, PT EU10,5
*FAURECIA RATED NEW OUTPERFORM AT CREDIT SUISSE, PT EU36
*LEONI RATED NEW NEUTRAL AT CREDIT SUISSE, PT EU52.9
*MONTE PASCHI RATED NEW UNDERWEIGHT AT BARCLAYS, PT EU0.9
*POPOLARE MILANO RATED NEW EQUALWEIGHT AT BARCLAYS, PT EU0.7
*PEUGEOT RATED NEW HOLD AT BERENBERG; PT EU11
*RENAULT RATED NEW BUY AT BERENBERG; PT EU70
*RHEINMETALL RATED NEW UNDERPERFORM AT CREDIT SUISSE, PT EU45.1
*UBI BANCA RATED NEW OVERWEIGHT AT BARCLAYS, PT EU8.1
*VALEO RATED NEW OUTPERFORM AT CREDIT SUISSE, PT EU119
>>> Call
>> Stock
*ALLIANZ ADDED TO EUROPEAN KEY CALLS AT UBS
*AVIVA ADDED TO UBS LEAST PREFERRED LIST, ADMIRAL REMOVED
*CONTINENTAL ADDED TO EUROPE, GLOBAL FOCUS LIST AT CREDIT SUISSE
*DIRECT LINE REMOVED FROM UBS MOST PREFERRED LIST
*TUI TRAVEL ADDED TO EUROPE BEST IDEAS AT MORGAN STANLEY