>>> Up
*COMMERZBANK RAISED TO MARKET PERFORM AT KEEFE BRUYETTE
*LUFTHANSA RAISED TO BUY VS NEUTRAL AT NOMURA
*ORANGE RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*RANDGOLD RESOURCES RAISED TO BUY AT DEUTSCHE BANK
*URALKALI RAISED TO NEUTRAL FROM SELL AT GOLDMAN
>>> Down
*AIR FRANCE-KLM CUT TO REDUCE VS NEUTRAL AT NOMURA
*BANCA POP MILANO CUT TO MARKET PERFORM AT KEEFE BRUYETTE
*BANCO POPOLARE CUT TO MARKET PERFORM AT KEEFE BRUYETTE
*CREDITO EMILIANO CUT TO UNDERPERFORM AT KEEFE BRUYETTE
*DIXY CUT TO NEUTRAL VS BUY AT UBS
*E.ON CUT TO SELL VS HOLD AT BERENBERG
*EMILIA ROMAGNA CUT TO MARKET PERFORM AT KEEFE BRUYETTE
*HSBC CUT TO MARKET PERFORM VS OUTPERFORM AT KEEFE BRUYETTE
*INTESA SANPAOLO RAISED TO OUTPERFORM AT KEEFE BRUYETTE
*KBC GROEP CUT TO MARKET PERFORM VS OUTPERFORM AT KEEFE BRUYETTE
*K&S CUT TO SELL FROM NEUTRAL AT GOLDMAN
*LENTAvCUT TO NEUTRAL VS BUY AT UBS
*MAIL.RU CUT TO NEUTRAL VS BUY AT UBS
*MEDIOBANCA CUT TO MARKET PERFORM AT KEEFE BRUYETTE
*O'KEY CUT TO NEUTRAL VS BUY AT UBS
*OTP BANK CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*QIWI CUT TO NEUTRAL VS BUY AT UBS
*SOCGEN CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY
*UBI BANCA CUT TO UNDERPERFORM AT KEEFE BRUYETTE
*X5, LENTA, DIXY, O'KEY CUT TO NEUTRAL VS BUY AT UBS
*YANDEX CUT TO NEUTRAL VS BUY AT UBS
>>> PT changes
*PRADA PT REDUCED 13% TO HK$40 AT JPMORGAN; KEPT AT NEUTRAL
*PRADA PT CUT BY 16% TO HK$36 AT BARCLAYS, KEPT UNDERWEIGHT
>>> Initiation
*NESTE OIL RATED NEW OVERWEIGHT AT JPMORGAN, PT EU24.3
>>> Call
>> Stock
*ORANGE RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*ILIAD REMOVED FROM GOLDMAN CONVICTION BUY LIST, REITERATES BUY
>> Sector
*EUROPEAN AIRLINES SECTOR RAISED TO BULLISH VS NEUTRAL AT NOMURA