>>> Up
*FRAPORT RAISED TO OUTPERFORM AT RBC CAPITAL
*GROUP FIVE RAISED TO NEUTRAL AT MACQUARIE
*HENKEL RAISED TO NEUTRAL VS SELL AT GOLDMAN
*NEMETSCHEK RAISED TO BUY VS HOLD AT BERENBERG
*OTE RAISED TO BUY VS NEUTRAL AT GOLDMAN
*SHELL RAISED TO BUY VS HOLD AT JEFFERIES
*SYDBANK RAISED TO BUY AT NORDEA
*VEOLIA ENVIRONNEMENT RAISED TO BUY VS NEUTRAL AT GOLDMAN (note attached) {NSN NTKO5D6JIJUR<Go>}
*WOOD GROUP RAISED TO BUY VS HOLD AT NUMIS
>>> Down
*BIG YELLOW CUT TO HOLD VS BUY AT JEFFERIES
*BREWIN DOLPHIN CUT TO HOLD VS BUY AT LIBERUM
*BRITISH LAND CUT TO UNDERPERFORM AT JEFFERIES
*CAPCO CUT TO UNDERPERFORM AT JEFFERIES
*DERWENT LONDON CUT TO HOLD VS BUY AT JEFFERIES
*GRAINGER CUT TO HOLD VS BUY AT JEFFERIES
*HAMMERSON CUT TO UNDERPERFORM VS HOLD AT JEFFERIES
*INTU CUT TO UNDERPERFORM VS HOLD AT JEFFERIES
*KUONI REISEN CUT TO SELL VS NEUTRAL AT CITI
*LAND SECURITIES CUT TO HOLD VS BUY AT JEFFERIES
*LINDT & SPRUNGLI ORD. CUT TO HOLD VS BUY AT BERENBERG
*LONDONMETRIC CUT TO HOLD VS BUY AT JEFFERIES
*SAFESTORE CUT TO HOLD VS BUY AT JEFFERIES
*SODEXO CUT TO NEUTRAL VS BUY AT GOLDMAN
*UNITE CUT TO UNDERPERFORM AT JEFFERIES
*WORKSPACE CUT TO HOLD VS BUY AT JEFFERIES
>>> PT Change
*BMW TP CUT FROM €94 to €80 AT CREDIT SUISSE (Note Attached)
*FCA TP CUT FROM €19.2 to €18.9 AT CREDIT SUISSE
*DAIMLER TP CUT FROM €85 to €79 AT CREDIT SUISSE
*PEUGEOT TP CUT FROM €20.2 to €15.3 AT CREDIT SUISSE
*RENAULT TP CUT FROM €102 to €92 AT CREDIT SUISSE
*VOLKSWAGEN TP CUT FROM €183 to €169 AT CREDIT SUISSE
>>> Initiation
*BANCA SISTEMA RATED NEW BUY AT JEFFERIES; PT EU5.63
*FLOW TRADERS RATED NEW BUY AT UBS, PT EU45
*LAFARGEHOLCIM REINSTATED OUTPERFORM AT CREDIT SUISSE, PT CHF80 (Note Attached)
*ORDINA RESUMED HOLD AT ING, PT EU1
>>> Call