>>> Brokers Upgrades & Downgrades

>>> Up
*AFREN RAISED TO OVERWEIGHT VS UNDERWEIGHT AT JPMORGAN
*IBERDROLA RAISED TO EQUALWEIGHT VS UNDERWEIGHT: MORGAN STANLEY
*PETROPAVLOVSK RAISED TO NEUTRAL VS SELL AT CITI
*SSAB RAISED TO BUY VS NEUTRAL AT CITI
*VICAT RAISED TO BUY VS HOLD AT SOCGEN

>>> Down
*DNO CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*OPHIR ENERGY CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*PRADA CUT TO NEUTRAL VS BUY AT GOLDMAN, PT HK$63.4
*ROYAL MAIL CUT TO SECTOR PERFORM VS OUTPERFORM AT RBC
*SYMRISE AG CUT TO HOLD VS BUY AT BANKHAUS LAMPE

>>> PT Change


>>> Initiation


>>> Call
>> Stock
*ARCELORMITTAL EXITS UBS EU METALS & MINING LEAST PREFERRED LIST
*PRADA REMOVED FROM GOLDMAN PAN-EUROPE BUY LIST
*SSAB ADDED TO UBS EU METALS & MINING LEAST PREFERRED LIST