>>> Up
*CARREFOUR RAISED TO BUY VS HOLD AT JEFFERIES
*DELHAIZE RAISED TO HOLD VS UNDERPERFORM AT JEFFERIES
*JERONIMO MARTINS RAISED TO BUY VS HOLD AT JEFFERIES
*RBS RAISED TO NEUTRAL AT HSBC
*SWATCH RAISED TO HOLD VS SELL AT SOCGEN
>>> Down
*AHOLD CUT TO UNDERPERFORM VS HOLD AT JEFFERIES
*AIRBUS CUT TO SECTOR PERFORM VS OUTPERFORM AT RBC
*CHRISTIAN DIOR CUT TO NEUTRAL VS BUY AT GOLDMAN
*COLRUYT CUT TO UNDERPERFORM VS HOLD AT JEFFERIES
*ELECTROLUX CUT TO SELL VS NEUTRAL AT UBS
*FRESNILLO CUT TO NEUTRAL VS BUY AT UBS
*INFINEON CUT TO NEUTRAL AT HSBC
*KERING CUT TO NEUTRAL AT HSBC
*KINGFISHER CUT TO HOLD VS BUY AT JEFFERIES
*KINGFISHER CUT TO NEUTRAL VS BUY AT UBS
*LLOYDS CUT TO NEUTRAL AT HSBC
*LUXOTTICA CUT TO NEUTRAL AT HSBC
*NEXT CUT TO UNDERPERFORM VS HOLD AT JEFFERIES
*NOVO NORDISK CUT TO REDUCE VS NEUTRAL AT SWEDBANK
*RANDGOLD RESOURCES CUT TO NEUTRAL VS BUY AT UBS
*SCHRODERS CUT TO SECTOR PERFORM VS OUTPERFORM AT RBC
*SHELL CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*TOD’S CUT TO SELL VS NEUTRAL AT GOLDMAN
*TSB BANKING GROUP CUT TO UNDERWEIGHT AT HSBC
*WOLSELEY CUT TO NEUTRAL AT HSBC
*YARA CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
>>> PT Changes
*AB INBEV PT RAISED TO EU115 FROM EU92 AT ING
>>> Initiation
>>> Call
>> Stock
*SCHRODERS CUT TO SECTOR PERFORM VS OUTPERFORM AT RBC
*WARTSILA ADDED TO JPMORGAN'S EUROPEAN ANALYST FOCUS LIST