>>> Up
*ALCATEL RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*ENEL RAISED TO OUTPERFORM VS SECTOR PERFORM AT RBC
*RSA RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*SAP REMOVED FROM GOLDMAN CONVICTION BUY LIST, STAYS BUY
*UBS RAISED TO HOLD FROM SELL AT BANKHAUS LAMPE
*UBS GROUP RAISED TO OUTPERFORM AT KEEFE BRUYETTE
*WACKER CHEMIE RAISED TO BUY VS HOLD AT DEUTSCHE BANK
>>> Down
*CHR HANSEN CUT TO HOLD VS BUY AT SOCGEN
*DISCOVERY LTD CUT TO NEUTRAL VS BUY AT UBS
*GEMALTO CUT TO NEUTRAL VS BUY AT GOLDMAN
*MAGNIT CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*PENNON CUT TO NEUTRAL AT MACQUARIE
*TAG IMMOBILIEN CUT TO HOLD FROM BUY AT BANKHAUS LAMPE
>>> PT Changs
>>> Initiation
*AL NOOR HOSPITALS RATED NEW ADD AT NUMIS, PT 1,092P
*ENDESA SA RESUMED OVERWEIGHT AT MORGAN STANLEY
*NOKIA REINSTATED BUY AT GOLDMAN
>>> Call
>> Stock
*ARM ADDED TO CITI FOCUS LIST EUROPE
*OPERA SOFTWARE ADDED TO CONVICTION BUY LIST AT GOLDMAN
*SAP REMOVED FROM GOLDMAN CONVICTION BUY LIST, STAYS BUY