>>> Brokers Upgrades & Downgrades - 23rd of January 2015

>>> Up
*ADECCO RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
*ALTICE RAISED TO NEUTRAL VS SELL AT CITI
*BOIRON RAISED TO HOLD VS SELL AT SOCGEN
*BOLIDEN RAISED TO BUY VS SELL AT UBS
*INFORMA RAISED TO BUY VS HOLD AT SOCGEN
*RANDSTAD RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*SOLVAY SA RAISED TO MARKET PERFORM AT SANFORD BERNSTEIN
*TALKTALK RAISED TO OUTPERFORM AT MACQUARIE
*WARTSILA RAISED TO NEUTRAL VS SELL AT UBS
*X5 RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT BARCLAYS

>>> Down
*ANTOFAGASTA CUT TO NEUTRAL VS BUY AT GOLDMAN
*AXEL SPRINGER CUT TO SELL VS HOLD AT SOCGEN
*EXPERIAN CUT TO NEUTRAL VS BUY AT UBS
*FIRST QUANTUM MINERALS CUT TO NEUTRAL VS OVERWEIGHT: JPMORGAN
*GLENCORE CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*LUXOTTICA CUT TO HOLD VS BUY AT BERENBERG
*MAGNIT GDRS CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*MICHAEL PAGE CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*MICHAEL PAGE CUT TO NEUTRAL VS BUY AT UBS
*RENTOKIL CUT TO SELL VS NEUTRAL AT UBS
*RTL GROUP CUT TO HOLD VS BUY AT SOCGEN
*TELECITY CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*WOLTERS KLUWER CUT TO HOLD VS BUY AT SOCGEN

>>> PT Changes


>>> Initiation


>>> Call