>>> Up
*BRENNTAG RAISED TO HOLD AT BAADER-HELVEA
*ENEL RUSSIA RAISED TO NEUTRAL VS UNDERWEIGHT AT JPMORGAN
*KERRY GROUP RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*SAP RAISED TO BUY AT HSBC
*SGL CARBON RAISED TO BUY AT BAADER-HELVEA
*SKY RAISED TO OUTPERFORM VS UNDERPERFORM AT CREDIT SUISSE
>>> Down
*ATRESMEDIA CUT TO REDUCE VS HOLD AT KEPLER CHEUVREUX
*ATRESMEDIA CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE
*BARLOWORLD LTD CUT TO UNDERWEIGHT AT JPMORGAN
*COLOPLAST CUT TO REDUCE AT KEPLER CHEUVREUX
*DKSH CUT TO REDUCE AT HSBC
*EMS-CHEMIE CUT TO SELL VS NEUTRAL AT UBS
*FEDERAL GRID CO CUT TO UNDERWEIGHT AT JPMORGAN
*FSK CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*K+S CUT TO SELL VS NEUTRAL AT UBS
*LEONI CUT TO HOLD VS BUY AT DZ BANK (yesterday)
*LINDE CUT TO SELL VS NEUTRAL AT UBS
*OGK-2 CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*RTL CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*SOLVAY CUT TO SELL VS NEUTRAL AT UBS
*URALKALI CUT TO NEUTRAL VS BUY AT UBS
>>> PT Change
>>> Initiation
*ARCELORMITTAL RATED NEW BUY AT BERENBERG; PT EU7.5
*CA IMMO REINSTATED NEUTRAL AT GOLDMAN
*COAL OF AFRICA RATED NEW BUY AT PEEL HUNT, PT 5.5P
*JOHN LAING RATED NEW BUY AT HSBC, PT 250P
*KBC RATED NEW NEUTRAL AT CREDIT SUISSE; PT EU60.9
*KLOECKNER REINITIATED AT SELL AT BERENBERG; PT EU7
*MORGAN ADVANCED MATERIALS RATED NEW BUY AT LIBERUM; PT 340P
*SALZGITTER RATED NEW BUY AT BERENBERG; PT EU40
*SHIRE RATED NEW OUTPERFORM AT NORTHLAND, PT $288
*SSAB RATED NEW HOLD AT BERENBERG; PT SEK40
*THYSSENKRUPP RATED NEW BUY AT BERENBERG; PT EU26
*TT ELECTRONICS RATED HOLD AT LIBERUM; PT 135P
*VIVENDI RATED NEW OUTPERFORM AT CREDIT SUISSE, PT $25 (Note attached)
*VOESTALPINE RATED NEW HOLD AT BERENBERG; PT EU38
*XAAR RATED NEW HOLD AT LIBERUM; PT 550P
>>> Call
>> Stock
*VIVENDI ADDED TO GOLDMAN DIRECTORS OF RESEARCH FOCUS LIST