Up
*DP WORLD RAISED TO BUY AT DEUTSCHE BANK *KPN RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE *OUTOKUMPU RAISED TO NEUTRAL VS REDUCE AT NOMURA *SEVERSTAL RAISED TO BUY VS HOLD AT DEUTSCHE BANK *SWISS RE RAISED TO BUY VS REDUCE AT NOMURA
Down
*BALOISE CUT TO REDUCE VS BUY AT NOMURA *SCOR CUT TO REDUCE VS BUY AT NOMURA *STADA ARZNEIMITTEL CUT TO HOLD VS BUY AT BERENBERG
PT Change
Initiation
*GENERALI RATED NEW BUY AT DEUTSCHE BANK *UNIQA RATED NEW HOLD AT DEUTSCHE BANK, PT EU9.6 *UNIQA RESTARTED BUY AT BERENBERG, PT EU10.5 *UNIQA RATED NEW BUY AT UBS, PT EU11 *UNIQA RESUMED EQUALWEIGHT AT MORGAN STANLEY, PT EU9.90
Country Sector Stock Call
*EUROPE INSURANCE SECTOR CUT TO NEUTRAL VS BULLISH AT NOMURA *CAPITA REMOVED FROM CREDIT SUISSE’S FOCUS LIST