>>> Brokers Ups & Downs

Up

*BANK LEUMI RAISED TO NEUTRAL VS SELL AT CITI *DAILY MAIL RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT BARCLAYS *KUEHNE & NAGEL RAISED TO BUY VS NEUTRAL AT GOLDMAN *SERCO RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE *WHITBREAD RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN *WILLIAM HILL RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS

Down

*FLUGHAFEN ZUERICH CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE *PUBLIC POWER CUT TO NEUTRAL VS BUY AT CITI *SAPPI CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE

PT Changes

*Johnson Matthey PT Raised to 3,650p vs 3,050p at Deutsche Bank

Initiation

*AHOLD REINSTATED BUY AT BOFAML, PT EU15 *CARREFOUR REINSTATED BUY AT BOFAML, PT EU32 *CASINO GUICHARD REINSTATED BUY AT BOFAML, PT EU95 *COLRUYT REINSTATED UNDERPERFORM AT BOFAML, PT EU36 *DELHAIZE REINSTATED UNDERPERFORM AT BOFAML, PT EU39 *JERONIMO MARTINS REINSTATED UNDERPERFORM AT BOFAML, PT EU13 *MERLIN ENTERTAINMENTS RATED NEW BUY AT DEUTSCHE BANK; PT 395P *MORRISON REINSTATED BUY AT BOFAML, PT 325P *QIWI RATED NEW BUY AT GOLDMAN, PT $70 *ROYAL MAIL RATED NEW NEUTRAL AT NOMURA; PT 400P *ZODIAC AEROSPACE RATED NEW EQUALWEIGHT AT MORGAN STANLEY, GIVEN NEW PT OF EU130

Country Sector Stock Call

*BOFAML REINSTATE FOOD RETAIL IN EUROPE *STADA ADDED TO UBS’S MOST PREFERRED LIST *Panalpina Named a Least Preferred Stock at Citi