>>> Brokers Ups & Downs

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*DEUTSCHE POST RAISED TO NEUTRAL VS UNDERWEIGHT AT HSBC *IPSOS RAISED TO BUY VS HOLD AT SOCGEN *KBC RAISED TO BUY VS HOLD AT SOCGEN *KENTZ RAISED TO OVERWEIGHT VS NEUTRAL AT HSBC *PEARSON RAISED TO HOLD VS SELL AT SOCGEN *RTL GROUP RAISED TO BUY VS HOLD AT SOCGEN *SERCO RAISED TO OVERWEIGHT VS NEUTRAL AT HSBC *SWISSCOM RAISED TO BUY VS NEUTRAL AT CITI *TELECOM ITALIA ADDED TO CONVICTION BUY LIST AT GOLDMAN *VIMPELCOM RAISED TO OVERWEIGHT AT MORGAN STANLEY, PT $14.5 *WOLTERS KLUWER RAISED TO BUY VS HOLD AT SOCGEN

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*BALOISE HOLDING CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN *BOUYGUES CUT TO NEUTRAL VS BUY AT GOLDMAN *CENTAMIN CUT TO NEUTRAL VS BUY AT NOMURA *DIA CUT TO NEUTRAL VS OUTPERFORM AT MACQUARIE *GL EVENTS CUT TO HOLD VS BUY AT SOCGEN *HOLCIM CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN *JAZZTEL CUT TO NEUTRAL VS BUY AT GOLDMAN *LIBERTY GLOBAL CUT FROM CONVICTION BUY AT GOLDMAN, STILL A BUY *LVMH CUT TO NEUTRAL VS BUY AT BOFAML *MARINE HARVEST CUT TO BUY VS STRONG BUY AT NORDEA *MEDICA CUT TO HOLD VS BUY AT SOCGEN *NEXANS CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN *NOVATEK CUT TO MARKET PERFORM VS OUTPERFORM AT BERNSTEIN *POLYMETAL INTL CUT TO NEUTRAL VS BUY AT NOMURA *SWISSCOM CUT TO NEUTRAL VS BUY AT GOLDMAN *TELENOR CUT FROM CONVICTION BUY AT GOLDMAN, STILL A BUY *TNT EXPRESS CUT TO UNDERWEIGHT VS NEUTRAL AT HSBC *YARA CUT TO HOLD VS BUY AT NORDEA *ZURICH INSURANCE CUT TO MARKET PERFORM AT RAYMOND JAMES

PT Changes

Initiations

*MEGAFON RESUMED EQUAL WEIGHT AT MORGAN STANLEY, PT $38

Country Sector Stock Call

*BT ADDED TO CONVICTION BUY LIST AT GOLDMAN *TELECOM ITALIA ADDED TO CONVICTION BUY LIST AT GOLDMAN *TELENOR CUT FROM CONVICTION BUY AT GOLDMAN, STILL A BUY *TELIASONERA ADDED TO SELECTED LIST AT KEPLER CHEUVREUX