>>> Up
*CAIXABANK RAISED TO BUY VS HOLD AT SOCGEN
*HEXAGON RAISED TO BUY VS NEUTRAL AT UBS
*MOSCOW EXCHANGE RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*SMITHS GROUP RAISED TO BUY VS HOLD AT BERENBERG
*SMURFIT KAPPA RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
>>> Down
*AREVA CUT TO SELL VS HOLD AT SOCGEN
*AXIS CUT TO SELL VS HOLD AT NORDEA
*CITYCON CUT TO HOLD VS BUY AT NORDEA
*FAROE PETROLEUM CUT TO MKT PERFORM VS SPEC BUY AT FIRSTENERGY
*FIRSTGROUP CUT TO NEUTRAL VS BUY AT NOMURA
*GDF SUEZ CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE, CUT FROM CREDIT SUISSE’S EUROPEAN FOCUS LIST
*KERING CUT TO UNDERPERFORM VS MARKET PERFORM AT RAYMOND JAMES
*METSO CUT TO HOLD VS BUY AT BERENBERG
*THALES CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*VTB CUT TO SELL VS NEUTRAL AT GOLDMAN
*WEIR CUT TO HOLD VS BUY AT BERENBERG
>>> PT Changes
*EXOR PT RAISED TO EU33 VS EU30 AT UBS; KEPT AT NEUTRAL
>>> Initiation
*BOUYGUES REINSTATED BUY AT GOLDMAN, PT EU35
*GAZTRANSPORT & TECHNIGAZ RATED NEW BUY AT SOCGEN; PT EU56
*IMMOFINANZ RESUMED EQUALWEIGHT AT MORGAN STANLEY, PT EU3.20
*INVISION RATED NEW BUY AT BERENBERG; PT EU65
>>> Call
>> Stock
*GDF SUEZ CUT FROM CREDIT SUISSE’S EUROPEAN FOCUS LIST
*HAVAS ADDED TO UBS’S MOST PREFERRED LIST
*JCDECAUX ADDED TO UBS’S MOST PREFERRED LIST
*SYMRISE RAISED TO BUY FROM HOLD AT COMMERZBANK
>> Sector
*EUROPEAN STEEL RAISED TO OVERWEIGHT VS UNDERWEIGHT AT CITI