>>> Europe : Brokers Upgrades & Downgrades - 18th of December 20

>>> Up
*CASINO REITETATE AT JPM & BERNSTEIN - Note attached
*HENNES & MAURITZ RAISED TO BUY AT JEFFERIES
*NORTHGATE RAISED TO HOLD VS SELL AT BERENBERG
*SALZGITTER RAISED TO SECTOR PERFORM AT RBC CAPITAL
*THYSSENKRUPP RAISED TO OUTPERFORM AT RBC CAPITAL

>>> Down
*ARCELORMITTAL CUT TO SECTOR PERFORM AT RBC CAPITAL
*FUGRO CUT TO SELL VS NEUTRAL AT GOLDMAN
*SANDVIK CUT TO UNDERPERFORM AT JEFFERIES
*SEB CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*SSAB CUT TO UNDERPERFORM AT RBC CAPITAL
*TELEFONICA DEUTSCHLAND CUT TO UNDERWEIGHT AT MORGAN STANLEYA
*VICTREX CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS


>>> PT Change


>>> Initiation


>>> Call