>>> Up
*BHP BILLITON RAISED TO BUY AT BOFAML
*BNP PARIBAS RAISED TO BUY VS HOLD AT BANKHAUS LAMPE
*FINMECCANICA RAISED TO BUY VS NEUTRAL AT UBS
*KPN RAISED TO BUY VS HOLD AT BERENBERG
*LANCASHIRE RAISED TO BUY VS NEUTRAL AT CITI
*THOMAS COOK RAISED TO HOLD VS SELL AT BERENBERG
*TUI AG RAISED TO BUY VS HOLD AT BERENBERG
*WORLDPAY RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*ZOOPLA RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
>>> Down
*ACACIA MINING CUT TO NEUTRAL VS BUY AT CITI
*ARCELORMITTAL CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*ARM HOLDINGS CUT TO HOLD VS BUY AT JEFFERIES
*CENTAMIN EGYPT LIMITED CUT TO NEUTRAL VS BUY AT CITI
*D/S NORDEN CUT TO ADD VS BUY AT ALPHAVALUE
*FRESNILLO CUT TO NEUTRAL VS BUY AT CITI
*GEM DIAMONDS CUT TO SELL VS NEUTRAL AT CITI
*GLENCORE CUT TO NEUTRAL VS BUY AT CITI
*HOCHSCHILD MINING CUT TO SELL VS NEUTRAL AT CITI
*POLYMETAL CUT TO SELL VS NEUTRAL AT CITI
*RANDGOLD RESOURCES CUT TO NEUTRAL VS BUY AT CITI
*REN CUT TO NEUTRAL VS BUY AT CITI
*REXAM CUT TO HOLD VS BUY AT VERTICAL RESEARCH
*RIO TINTO CUT TO SELL AT CITI, PT A$45 MAINTAINED
*SEB CUT TO REDUCE VS ADD AT ALPHAVALUE
*SKF CUT TO UNDERPERFORM VS SECTOR PERFORM AT RBC
*SPIRAX-SARCO CUT TO SECTOR PERFORM VS OUTPERFORM AT RBC
*VOESTALPINE CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
>>> PT Change
>>> Initiation
*SAIPEM RESUMED UNDERPERFORM AT RAYMOND JAMES, PT EU0.30
>>> Call
>> Sector
*CITI CUTS 6-MO. VIEW ON METALS & MINING TO BEARISH VS NEUTRAL
*EUROPE MEDIA CUT TO NEUTRAL VS OVERWEIGHT AT UBS
*EUROPEAN PHARMA RAISED TO OVERWEIGHT VS UNDERWEIGHT AT UBS
>> Index
*EURO STOXX 50 YEAR-END TARGET CUT FROM 3,400 AT TO 3,350 - CREDIT SUISSE