>>> Up
*ACERINOX RAISED TO BUY VS HOLD AT JEFFERIES
*ASSA ABLOY RAISED TO BUY VS HOLD AT SOCIETE GENERALE
*ATLAS COPCO RAISED TO BUY AT NORDEA
*AUTOGRILL RAISED TO BUY VS HOLD AT KEPLER CHEUVREUX
*BANKIA RAISED TO NEUTRAL VS UNDERPERFORM AT CREDIT SUISSE (note attached)
*CONTINENTAL AG RAISED TO BUY VS NEUTRAL AT UBS
*FRESENIUS MEDICAL CARE RAISED TO BUY VS NEUTRAL AT GOLDMAN
*HERMES RAISED TO OUTPERFORM VS SECTOR PERFORM AT RBC
*MORRISON RAISED TO NEUTRAL VS SELL AT UBS
*RECKITT BENCKISER RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*SUBSEA 7 RAISED TO HOLD VS REDUCE AT HSBC
*TALKTALK RAISED TO NEUTRAL AT EXANE BNP PARIBAS
*TOTAL RAISED TO BUY VS NEUTRAL AT ODDO
*VIRGIN MONEY RAISED TO BUY VS HOLD AT INVESTEC
>>> Down
*CGG CUT TO HOLD VS BUY AT HSBC
*EASYJET CUT TO NEUTRAL VS BUY AT UBS
*ENGIE CUT TO UNDERPERFORM VS NEUTRAL AT BOFA
*DRAX CUT TO UNDERPERFORM VS NEUTRAL AT BOFA
*OPTIMAL PAYMENTS RATED NEW BUY AT CITI; PT 400P
*SABADELL CUT TO UNDERPERFORM VS OUTPERFORM AT CREDIT SUISSE (NOte Attached)
*SALZGITTER CUT TO UNDERPERFORM VS HOLD AT JEFFERIES
>>> PT Change
*VIVENDI PT RAISED FROM €20.50 TO €21 AT BARCLAYS ( Note attached)
>>> Initiation
*SENIOR RATED NEW BUY AT BERENBERG; PT 320P
*WIZZ AIR RATED NEW BUY AT UBS, PT 2,200P
>> Call
>> Stock
*AEROFLOT REMOVED FROM GOLDMAN CEEMEA FOCUS LIST
*EUROPCAR ADDED TO GOLDMAN CONVICTION BUY LIST
>> Sector
* European Luxury : Beware of wholesale destocking (Note /attached)
* Consumer : Berenberg September Update (Note /attached)