>>> Europe : Brokers Upgrades & Downgrades - 7th of December 2015

>>> Up
*BPOST RAISED TO BUY VS NEUTRAL AT UBS
*MAN GROUP RAISED TO BUY AT CITI
*SCOUT24 RAISED TO BUY VS NEUTRAL AT GOLDMAN
*UNITED CO RUSAL RAISED TO OUTPERFORM VS NEUTRAL: CREDIT SUISSE

>>> Down
*ARCELORMITTAL CUT TO HOLD VS BUY AT HSBC
*BECHTLE CUT TO HOLD VS BUY AT BANKHAUS LAMPE
*B&M EUROPEAN VALUE RETAIL CUT FROM OUTPERFORM AT RBC
*DELTA LLOYD CUT TO HOLD VS BUY AT ING
*GLOBALTRANS CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*HUGO BOSS CUT TO SECTOR PERFORM VS OUTPERFORM AT RBC
*JOHN LAING INFRASTRUCTURE CUT TO SECTOR PERFORM AT RBC
*KINGFISHER CUT TO REDUCE VS NEUTRAL AT NOMURA
*KRONES CUT TO REDUCE VS HOLD AT HSBC
*NEXT CUT TO NEUTRAL VS BUY AT NOMURA
*NOKIAN RENKAAT CUT TO SELL AT NORDEA
*UMICORE CUT TO REDUCE VS HOLD AT HSBC
*UNIQA INSURANCE CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN

>>> Initiation
*ADVANCED ACCELERATOR RATED NEW BUY AT JEFFERIES
*EQUINITI RATED NEW OVERWEIGHT AT BARCLAYS, PT 230P
*EQUINITI RATED NEW BUY AT GOLDMAN, PT 260P
*EQUINITI RATED NEW OUTPERFORM AT CREDIT SUISSE
*EQUINITI RATED NEW BUY AT LIBERUM
*LUNDBECK RATED NEW OVERWEIGHT AT BARCLAYS, PT DKK262
*OC OERLIKON RATED NEW HOLD AT BERENBERG
*PREMIER OIL RATED NEW NEUTRAL AT JPMORGAN

>>> PT Change

>>> Call