>>> Up
*ATLANTIA RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*BG GROUP RATED NEW OVERWEIGHT AT HSBC
*BP RATED NEW OVERWEIGHT AT HSBC
*DARTY RAISED TO BUY VS NEUTRAL AT UBS
*DEUTSCHE TELEKOM RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*DUNELM RAISED TO BUY VS UNDERPERFORM AT BOFAML
*ENI RATED NEW NEUTRAL AT HSBC
*FAURECIA RAISED TO BUY VS NEUTRAL AT UBS
*FOXTONS RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*KPN RAISED TO BUY VS HOLD AT JEFFERIES
*LSE RAISED TO BUY VS NEUTRAL AT BOFAML
*MERCK KGAA RAISED TO HOLD VS SELL AT SOCGEN
*MORRISON RAISED TO NEUTRAL VS SELL AT CITI
*PENNON GROUP RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*PETROFAC RAISED TO NEUTRAL VS UNDERPERFORM AT MACQUARIE
*REPSOL SA RATED NEW NEUTRAL AT HSBC
*RIGHTMOVE RAISED TO HOLD VS UNDERPERFORM AT JEFFERIES
*SHELL RATED NEW OVERWEIGHT AT HSBC
*SUPERGROUP RAISED TO BUY VS NEUTRAL AT BOFAML
*VODAFONE RAISED TO BUY VS HOLD AT BERENBERG
*VODAFONE RAISED TO NEUTRAL VS UNDERPERFORM AT EXANE
*WENDEL RAISED TO OVERWEIGHT AT HSBC
>>> Down
*ACCOR CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*AMLIN CUT TO UNDERPERFORM AT RBC CAPITAL
*AZ ELECTRONIC MATERIALS CUT TO HOLD VS BUY AT DEUTSCHE BANK
*GENERALI CUT TO SELL VS HOLD AT SOCGEN
*HOCHTIEF CUT TO SELL VS NEUTRAL AT UBS
*STATOIL ASA RATED NEW UNDERWEIGHT AT HSBC
*TELEFONICA CUT TO UNDERPERFORM VS NEUTRAL AT EXANE
*VINCI SA CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*YAPI KREDI CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
>>> PT Change
*Monte Paschi PT Cut to EU0.12 vs EU0.2 at BofAML
*TOD’S PT CUT TO EU120.9 VS EU126.9 AT GOLDMAN; KEPT AT SELL
>>> Initiation
*AVIVA RESUMED AT HOLD AT DEUTSCHE BANK; PT 430P
*BG GROUP RATED NEW OVERWEIGHT AT HSBC
*BP RATED NEW OVERWEIGHT AT HSBC
*DISTELL RATED NEW OVERWEIGHT AT HSBC
*ENI RATED NEW NEUTRAL AT HSBC
*INTERNATIONAL BREWERIES RATED NEW OVERWEIGHT AT HSBC
*IG GROUP RATED NEW HOLD AT LIBERUM, PT 590P
*NEXANS RATED NEW EQUALWEIGHT AT MORGAN STANLEY; PT EU35
*PRYSMIAN RATED NEW OVERWEIGHT AT MORGAN STANLEY; PT EU22
*REPSOL SA RATED NEW NEUTRAL AT HSBC
*STATOIL ASA RATED NEW UNDERWEIGHT AT HSBC
*TOTAL RATED NEW OVERWEIGHT AT HSBC
*VIVENDI REINSTATED AT EQUALWEIGHT AT BARCLAYS; PT EU19
>>> Country Sector Stock Call