>>> Europe : Brokers Upgrades & Downgrades - 2nd of June 2016

>>> Up
*RUBIS RAISED TO BUY VS NEUTRAL AT GOLDMAN
*UMICORE RAISED TO HOLD FROM SELL AT DEUTSCHE BANK

>>> Down
*BANCO COMERCIAL PORTUGUES CUT TO HOLD VS BUY AT SOCGEN
*DEUTSCHE BANK CUT TO SECTOR PERFORM AT RBC CAPITAL
*EFG INTERNATIONAL CUT TO NEUTRAL VS BUY AT UBS
*HALFORDS CUT TO NEUTRAL AT CITI
*MONEYSUPERMARKET.COM CUT TO HOLD AT JEFFERIES
*MOSENERGO CUT TO HOLD AT RENAISSANCE CAPITAL
*RTL GROUP CUT TO HOLD VS BUY AT HSBC
*WOLSELEY CUT TO NEUTRAL VS BUY AT CITI

>>> PT Change

>>> Initiation
*ABN AMRO RATED NEW SELL AT BERENBERG, PT EU15
*BALOISE RATED NEW ’UNDERPERFORM’ AT EXANE BNP PARIBAS
*HELVETIA RATED NEW ’NEUTRAL’ AT EXANE BNP PARIBAS
*SSAB B SHARES RATED NEW HOLD AT BERENBERG, PT SEK20
*SWISS LIFE RATED NEW ’UNDERPERFORM’ AT EXANE BNP PARIBAS

>>> Call
>> Stock
*SHIRE ADDED TO SHORT-TERM BUY LIST AT DEUTSCHE BANK