>>> Up
*AB INBEV RAISED TO BUY VS NEUTRAL AT NOMURA
*ALCATEL-LUCENT RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*AKZO NOBEL RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*BILFINGER RAISED TO BUY FROM HOLD AT BANKHAUS LAMPE
*RIO TINTO RAISED TO SECTOR PERFORMER AT CIBC
*SAP RAISED TO BUY VS HOLD AT EVERCORE ISI, PT $81
*SCHNEIDER RAISED FROM HOLD TO BUY AT SOCGEN
*TELEKOM AUSTRIA RAISED TO OUTPERFORM AT RBC CAPITAL
>>> Down
*ABB LTD CUT TO SELL VS HOLD AT SOCGEN
*AKZO NOBEL RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*DIAGEO CUT TO NEUTRAL VS BUY AT NOMURA
*ELISA CUT TO HOLD FROM BUY AT NORDEA
*ERICSSON CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
*FOXTONS CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
*MILLICOM CUT TO SECTOR PERFORM AT RBC CAPITAL
*PERSIMMON CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*SAGE CUT TO SELL VS NEUTRAL AT UBS
*SAP CUT TO NEUTRAL VS BUY AT UBS
*TUI AG CUT TO NEUTRAL VS BUY AT CITI
>>> PT Change
>>> Initiation
*ACERINOX RATED NEW HOLD AT JEFFERIES, PT EU13
*APERAM RATED NEW BUY AT JEFFERIES, PT EU30
*EUROCASH RATED NEW UNDERWEIGHT AT BARCLAYS
*INGENICO RATED NEW OVERWEIGHT AT HSBC, PT EU105
*NOSTRUM OIL & GAS RATED NEW BUY AT NUMIS, PT 800P
*OUTOKUMPU RATED NEW BUY AT JEFFERIES, PT EU6
*VIRGIN MONEY RATED NEW BUY AT CITI, PT 410P
*WIRECARD RATED NEW OVERWEIGHT AT HSBC, PT EU42
*WORLDLINE RATED NEW NEUTRAL AT HSBC, PT EU17.50
>>> Call
>> Stock
*BOLIDEN, WILLIAM DEMANT ADDED TO CITI EUROPE KEY BUYS LIST
*PANDORA, PADDY POWER REMOVED FROM CITI EUROPE KEY BUYS LIST
*SBERBANK ADDED TO GOLDMAN CEEMEA FOCUS LIST