>>> Up
*BPOST SA RAISED TO ADD AT BANK DEGROOF PETERCAM
*CARLSBERG RAISED TO BUY AT SOCIETE GENERALE
*DEUTSCHE BANK RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*INDITEX RAISED TO BUY AT BOFA
*K+S RAISED TO OUTPERFORM VS MARKET PERFORM AT BERNSTEIN
*KERRY GROUP RAISED TO BUY AT SOCIETE GENERALE
*RECKITT BENCKISER RAISED TO BUY AT HSBC
*SNAM RAISED TO NEUTRAL VS SELL AT GOLDMAN Full note attached)
*SPIRENT COMMUNICATIONS RAISED TO BUY VS HOLD AT LIBERUM
*WOLTERS KLUWER RAISED TO OUTPERFORM AT BERNSTEIN
*YARA RAISED TO MARKET PERFORM VS UNDERPERFORM AT BERNSTEIN
>>> Down
*BOUYGUES CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN
*CONTINENTAL AG CUT TO HOLD AT HSBC
*FIDESSA CUT TO NEUTRAL VS BUY AT UBS
*LINDE CUT TO MARKET PERFORM VS OUTPERFORM AT BERNSTEIN
*POSTNL CUT TO REDUCE AT BANK DEGROOF PETERCAM
*PUBLICIS CUT TO MARKET PERFORM AT BERNSTEIN
*QINETIQ CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*SAINT GOBAIN CUT TO HOLD VS BUY AT BERENBERG
*TEMENOS CUT TO SELL VS NEUTRAL AT UBS
*UBS CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*USG CUT TO HOLD AT BANK DEGROOF PETERCAM
>>> PT Change
>>> Initiation
*AMUNDI RATED NEW BUY AT SOCIETE GENERALE
*BASF RATED NEW OUTPERFORM AT MACQUARIE; PT EU85
*CLARIANT RATED NEW NEUTRAL AT MACQUARIE; PT CHF21
*COLONIAL RATED NEW NEUTRAL AT BOFA; PT EU0.67
*CRH RATED NEW OVERWEIGHT AT BARCLAYS
*EDGEWELL PERSONAL CARE RATED NEW HOLD AT SOCIETE GENERALE
*HEIDELBERGCEMENT RATED NEW OVERWEIGHT AT BARCLAYS
*HISPANIA RATED NEW UNDERPERFORM AT BOFA
*ITALCEMENTI RATED NEW UNDERWEIGHT AT BARCLAYS
*LAFARGEHOLCIM RATED NEW EQUALWEIGHT AT BARCLAYS
*LANXESS RATED NEW OUTPERFORM AT MACQUARIE; PT EU52
*MERLIN RATED NEW UNDERPERFORM AT BOFA
*PSP A NEUTRAL IN NEW COVERAGE AT BOFA
*ROYAL MAIL RATED NEW SELL AT LIBERUM; PT 360P
*SRP GROUPE RATED NEW BUY AT UBS; PT EU28
*SWISS PRIME RATED A BUY AT BOFA
*SAINT-GOBAIN RATED NEW UNDERWEIGHT AT BARCLAYS
*SYNGENTA RATED NEW NEUTRAL AT MACQUARIE; PT CHF420
*VALEO RATED NEW HOLD AT HSBC
>>> Call