>>> Europe : Brokers Upgrade & Downgrade - 9th of February 2016

>>> Up
*ARCELORMITTAL RAISED TO NEUTRAL VS SELL AT GOLDMAN
*EUROFINS SCIENTIFIC RAISED TO BUY AT JEFFERIES
*GLENCORE RAISED TO OUTPERFORM AT RBC CAPITAL
*GRIFOLS B SHARES RAISED TO BUY VS HOLD AT BERENBERG
*GRUPO FINANCIERO GALICIA RAISED TO NEUTRAL AT JPMORGAN
*KINNEVIK RAISED TO BUY VS NEUTRAL AT BOFAML
*LUXOTTICA RAISED TO HOLD AT JEFFERIES
*NH HOTELES RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*SWISS PRIME SITE RAISED TO BUY AT BAADER-HELVEA

>>> Down
*ARCELORMITTAL CUT TO HOLD VS BUY AT ING; PT CUT TO EU3.10
*ARCELORMITTAL CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*E.ON RUSSIA CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*RANDGOLD RESOURCES CUT TO HOLD VS BUY AT HSBC
*RANDGOLD RESOURCES CUT TO NEUTRAL VS BUY AT UBS
*UBS CUT TO HOLD VS BUY AT KEPLER CHEUVREUX

>>> PT Change


>>> Initiation
*BEIERSDORF RATED NEW OUTPERFORM AT RBC, PT EU97
*BHP BILLITON RATED NEW SECTOR PERFORM AT RBC; PT 700P
*DANIELI RESUMED AT NEUTRAL AT MEDIOBANCA; PT EU20.10
*DET NORSKE RATED NEW BUY AT NOMURA; PT NOK68
*HENKEL RATED NEW SECTORPERFORM AT RBC, PT EU103
*HOIST FINANCE RATED NEW NEUTRAL AT MACQUARIE; PT SEK
*LUNDIN PETROLEUM RESUMED AT NEUTRAL AT NOMURA; PT SEK115
*MAIRE TECNIMONT RESUMED AT OUTPERFORM AT MEDIOBANCA; PT EU2.90
*RIO TINTO RATED NEW UNDERPERFORM AT RBC CAPITAL
*SOLVAY REINSTATED AT OUTPERFORM AT CREDIT SUISSE; PT EU87
*SSAB RATED NEW UNDERWEIGHT AT JPMORGAN
*VOESTALPINE RATED NEW OVERWEIGHT AT JPMORGAN, PT EU32
*WACKER CHEMIE ASSUMED OVERWEIGHT AT MORGAN STANLEY, PT EU75

>>> Call