>>> Up
*BANCO POPOLARE RAISED TO BUY VS NEUTRAL AT GOLDMAN
*PIERRE & VACANCES RAISED TO BUY VS HOLD AT SOCGEN
*TELEFONICA RAISED TO HOLD VS UNDERWEIGHT AT MIRABAUD
>>> Down
*ABSA CUT TO HOLD VS BUY AT HSBC
*BANCO POPULAR CUT TO HOLD VS BUY AT HSBC
*BIG YELLOW CUT TO NEUTRAL VS BUY AT GOLDMAN
*CAPITA CUT TO UNDERPERFORM VS NEUTRAL AT EXANE
*IAG CUT TO ADD VS BUY AT ALPHAVALUE
*KLOECKNER & CO. CUT TO SELL AT UBS
*LEWIS GROUP CUT TO SELL VS HOLD AT RENAISSANCE CAPITAL
*MARKS & SPENCER CUT TO HOLD VS BUY AT SOCGEN
>>> PT Change
*BMW PT CUT FROM €72 to €68 AT CREDIT SUISSE (Note Attached)
*DAIMLER PT CUT FROM €62 to €58 AT CREDIT SUISSE
*FCA PT CUT FROM €9.95 to €9 AT CREDIT SUISSE
*PEUGEOT PT CUT FROM €13.4 to €12.70 AT CREDIT SUISSE
*RENAULT PT CUT FROM €83 to €81 AT CREDIT SUISSE
*VOLKSWAGEN PT RAISED FROM €82 to €84 AT CREDIT SUISSE
>>> Initiation
*AKZO NOBEL RATED NEW UNDERWEIGHT AT BARCLAYS; PT EU54
*ARKEMA RATED NEW OVERWEIGHT AT BARCLAYS; PT EU84
*BASF RATED NEW EQUALWEIGHT AT BARCLAYS; PT EU70
*BENCHMARK HOLDINGS RATED NEW BUY AT BERENBERG; PT 70P
*CLARIANT RATED NEW EQUALWEIGHT AT BARCLAYS; PT CHF18
*COVESTRO RATED NEW OVERWEIGHT AT BARCLAYS; PT EU41
*CRODA RATED NEW OVERWEIGHT AT BARCLAYS; PT 3,400P
*DEUTSCHE BOERSE RESUMED AT EQUAL WEIGHT AT MORGAN STANLEY
*DSM RATED NEW EQUALWEIGHT AT BARCLAYS; PT EU55
*GIVAUDAN RATED NEW UNDERWEIGHT AT BARCLAYS; PT CHF1,760
*LANXESS RATED NEW EQUALWEIGHT AT BARCLAYS; PT EU43
*LINDE RATED NEW OVERWEIGHT AT BARCLAYS, PT EU160
*LSE RESUMED AT EQUAL WEIGHT AT MORGAN STANLEY
*PANDORA RESUMED AT EQUAL WEIGHT AT MORGAN STANLEY
*SOFTCAT RATED NEW BUY AT BERENBERG; PT 425P
*SOLVAY RATED NEW EQUALWEIGHT AT BARCLAYS; PT EU90
*SYMRISE RATED NEW EQUALWEIGHT AT BARCLAYS; PT EU55
>>> Call
>> Sector
*EUROPEAN CHEMICALS CUT TO NEUTRAL VS POSITIVE AT BARCLAYS (Full Note attached)