>>> Brokers Upgrades & Downgrades

>>> Up
*SCHRODERS RAISED TO OVERWEIGHT VS UNDERWEIGHT AT BARCLAYS

>>> Down
*JUPITER FUND MANAGEMENT CUT TO EQUALWEIGHT AT BARCLAYS
*SOLOCAL GROUP CUT TO SELL VS NEUTRAL AT GOLDMAN

>>> PT Changes
*Saipem PT Raised to EU14 vs EU13 at BofAML

>>> Initiation
*VALMET RATED NEW BUY AT BERENBERG; PT EU7.6

>>> Country Sector Stock Call
none