Adidas -5% FY13 numbers look fine but EBIT margin cut
Admiral UNCH Numbers inline
Arkema -1-2% CS downgrade to neutral from outperform, TP 85 from 90 Eur
Ascom -2-4% Numbers ok but they lower EBITDA margin target
Barrett Dev -2% CS downgrade to neutral from O/P, remove from focus list
Bellway -2% CS downgrade to neutral from O/P, TP 1876p from 2058p
Carillion UNCH Numbers inline, outlook inline
Carrefour +2% Numbers fine, dividend better
Intesa +1% CS upgrade to outperform from neutral, TP 2.8 from 1.8 Eur
L&G +2% Good update, cash generation better
Melrose -2-3% Numbers inline, weak outlook
Michael Page -2% Numbers inline, stock has had a decent run
Miners -1% Copper +0.4%, Brent UNCH, China -0.4%
Panalpina -1% Weak 4Q, restructuring potential
Persimmon -2% CS downgrade to neutral from O/P, TP 1486p from 1532p
RSA +2-3% Warren Buffett may have acquired strategic stake (DM)
Taylor Wim -2% CS downgrade to neutral, remove from SMID focus list
UBI +1% CS upgrade to outperform from neutral, TP 7.7 from 4.8 Eur
Verbund -1% Numbers look ok but dividend looks light
Vivendi UNCH More news on Numericable and potential bid for SFR