>>> Brokers Upgrades & downgrades

>>> Up
*ACERINOX RAISED TO NEUTRAL VS UNDERPERFORM AT BOFAML
*BALFOUR BEATTY RAISED TO NEUTRAL VS SELL AT UBS
*BOLIDEN RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*BOLIDEN RAISED TO BUY AT SEB
*DUERR RAISED TO OVERWEIGHT VS NEUTRAL AT HSBC
*KORIAN RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*OUTOKUMPU RAISED TO BUY VS UNDERPERFORM AT BOFAML
*PUBLIC POWER CORP RAISED TO BUY VS NEUTRAL AT GOLDMAN
*RUSAL RAISED TO BUY VS NEUTRAL AT BOFAML
*SOLVAY RAISED TO HOLD VS SELL AT BERENBERG

>>> Down
*ABERTIS CUT TO MARKET PERFORM VS OUTPERFORM AT RAYMOND JAMES
*BALFOUR BEATTY CUT TO HOLD VS BUY AT JEFFERIES
*CARACAL ENERGY CUT TO SELL VS HOLD AT SOCGEN
*INTU PROPERTIES CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*LUNDIN PETROLEUM CUT TO HOLD VS BUY AT SOCGEN
*MAUREL ET PROM CUT TO SELL VS HOLD AT SOCGEN
*SCA CUT TO HOLD VS BUY AT SOCGEN
*TATE & LYLE CUT TO UNDERPERFORM VS NEUTRAL AT EXANE
*TDC CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN

>>> PT Change


>>> Initiation
*BRIT PLC RATED NEW OVERWEIGHT AT JPMORGAN; PT 256P

>>> Call