>>> Up
*ELECTROLUX RAISED TO BUY VS NEUTRAL AT UBS
*LUXOTTICA RAISED TO OVERWEIGHT VS NEUTRAL AT HSBC
*MONDI RAISED TO BUY VS NEUTRAL AT BOFAML
*SIPEF RAISED TO BUY FROM HOLD AT ING; PT RAISED TO EU63
>>> Down
*ASOS CUT TO NEUTRAL VS BUY AT UBS
*DS SMITH CUT TO NEUTRAL VS BUY AT BOFAML
*FORTUM CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*GROUPE STERIA CUT TO NEUTRAL VS OVERWEIGHT AT HSBC
*MARKS & SPENCER CUT TO NEUTRAL VS BUY AT UBS
*RATIO OIL EXPLORATION CUT TO EQUALWEIGHT AT BARCLAYS
*RBS CUT TO UNDERWEIGHT AT HSBC
*SEB CUT TO NEUTRAL VS BUY AT UBS
*STORA ENSO CUT TO NEUTRAL VS BUY AT BOFAML
*UPM CUT TO UNDERPERFORM VS NEUTRAL AT BOFAML
>>> PT Changes
>>> Initiation
*AFRICA OIL RATED NEW EQUALWEIGHT AT BARCLAYS, PT SEK75
*MERLIN ENTERTAINMENTS RATED NEW OVERWEIGHT AT BARCLAYS, PT 390P
*NUMERICABLE RATED NEW NEUTRAL AT HSBC, PT EU30
*NUMERICABLE RATED NEW HOLD AT JEFFERIES
>>> Country Sector Stock Call
*DEBENHAMS REMOVED FROM UBS’S MOST PREFERRED LIST
*ELECTROLUX ADDED TO UBS’S EUROPEAN KEY CALL LIST
*HOME RETAIL ADDED TO UBS’S MOST PREFERRED LIST
*IAG ADDED TO UBS’S EUROPEAN KEY CALL LIST