>>> Europe : Brokers Upgrades & Downgrades - 7th of June 2016

>>> Up
*KERING RAISED TO ’BUY’ AT HSBC
*RIO TINTO RAISED TO NEUTRAL VS SELL AT CITI

>>> Down
*MARCOPOLO CUT TO ’UNDERWEIGHT’ AT JPMORGAN
*SAS CUT TO HOLD AT NORDEA
*VIVENDI CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS (Note attached)
*YARA INTERNATIONAL CUT TO HOLD AT NORDEA

>>> PT Change


>>> Initiation
*KAUFMAN & BROAD RATED NEW NEUTRAL AT GOLDMAN, PT EU39
*MOL RATED NEW BUY AT ING, PT HUF18.421
*NATIXIS RATED NEW BUY AT JEFFERIES
*PARQUES REUNIDOS NEW OVERWEIGHT AT MORGAN STANLEY, PT EU19
*PARQUES REUNIDOS RATED NEW OVERWEIGHT AT BARCLAYS, PT EU17.5

>>> Call
>> Stock
*DEUTSCHE BETEILIGUNGS ADDED TO BAADER-HELVEA TOP STOCK IDEAS
*HEIDELBERGCEMENT, ROSENBAUER ADDED TO BAADER-HELVEA TOP IDEAS
*LEONI ADDED AS SHORT POSITION TO BANKHAUS LAMPE ALPHA LIST