>>> Europe : Brokers Upgrades - 18th of MArch 2016

>>> Up
*CRH RAISED TO MARKET PERFORM AT BERNSTEIN
*GREENTECH ENERGY SYSTEMS RAISED TO OUTPERFORM AT MACQUARIE
*ITV RAISED TO HOLD VS SELL AT BERENBERG
*KERING RAISED TO OVERWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
*MTU AERO ENGINES RAISED TO BUY VS HOLD AT BERENBERG
*SMITHS GROUP RAISED TO OUTPERFORM VS SECTOR PERFORM AT RBC
*SOCO INTERNATIONAL RAISED TO NEUTRAL AT MACQUARIE
*TOTAL SA RAISED TO BUY VS NEUTRAL AT NOMURA, PT EU45

>>> Down
*ANGLO AMERICAN PLATINUM CUT TO HOLD VS BUY AT RENCAP
*ANTOFAGASTA CUT TO UNDERPERFORM VS SECTOR PERFORM AT RBC
*ASSORE CUT TO HOLD VS BUY AT RENAISSANCE CAPITAL
*CAIRN ENERGY CUT TO NEUTRAL VS BUY AT UBS
*DUNELM CUT TO NEUTRAL VS BUY AT BOFAML
*GEBERIT CUT TO HOLD VS BUY AT HSBC
*MUNICH RE CUT TO UNDERPERFORM VS NEUTRAL AT MEDIOBANCA
*SOUTH32 CUT TO HOLD VS BUY AT RENAISSANCE CAPITAL

>>> PT Change


>>>> Initiation
*ACS RATED NEW BUY AT BERENBERG; PT EU33
*BALFOUR BEATTY REINITIATED AT BUY AT BERENBERG; PT 290P
*BOUYGUES RATED NEW BUY AT BERENBERG; PT EU40
*CARILLION RATED NEW HOLD AT BERENBERG; PT 290P
*C&C GROUP RATED NEW UNDERWEIGHT AT JPMORGAN
*EIFFAGE RATED NEW HOLD AT BERENBERG; PT EU68
*FERROVIAL RATED NEW BUY AT BERENBERG; PT EU24
*HANNOVER RE RATED NEW BUY AT BERENBERG; PT EU109
*HOCHTIEF RATED NEW HOLD AT BERENBERG; PT EU104
*MUNICH RE RATED NEW BUY AT BERENBERG; PT EU207
*SCOR RATED NEW HOLD AT BERENBERG; PT EU31.10
*TECHNIP RESUMED AT MARKET PERFORM AT RAYMOND JAMES

>>> Call
>> Sector
*MINING SECTOR CUT TO UNDERWEIGHT VS BENCHMARK AT CREDIT SUISSE (Full Note attached)