>>> Up
*AEGON RAISED TO NEUTRAL VS UNDERPERFORM AT MEDIOBANCA
*A.G. BARR RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*AIR FRANCE-KLM RAISED TO HOLD AT KEPLER CHEUVREUX
*FIDESSA RAISED TO NEUTRAL VS SELL AT UBS
*FREENET RAISED TO HOLD VS SELL AT BERENBERG
*FRESENIUS MEDICAL CARE RAISED TO HOLD AT JEFFERIES
*GENERALI RAISED TO OUTPERFORM AT MEDIOBANCA
*GOLD FIELDS RAISED TO BUY VS NEUTRAL AT GOLDMAN
*HEINEKEN RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*INCHCAPE RAISED TO BUY VS HOLD AT BERENBERG
*KRONES RAISED TO BUY VS HOLD AT DZ BANK
*MUNICH RE RAISED TO NEUTRAL VS UNDERPERFORM AT MEDIOBANCA
*NESTLE RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*RECKITT BENCKISER RAISED FROM UNDERWEIGHT TO EQUALWEIGHT AT BARCLAYS
*REXEL RAISED TO 'BUY' AT KEPLER CHEUVREUX
*SAIPEM RAISED TO OVERWEIGHT VS UNDERWEIGHT AT BARCLAYS
*TULLOW OIL RAISED TO BUY VS NEUTRAL AT GOLDMAN
*VEDANTA RAISED TO NEUTRAL VS UNDERPERFORM AT BOFAML
>>> Down
*AVG TECHNOLOGIES CUT TO ’NEUTRAL’ AT NOMURA
*AVIVA CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*BAT CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*DIAGEO CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*FIRST QUANTUM CUT TO SELL VS HOLD AT BERENBERG
*INTU PROPERTIES CUT TO NEUTRAL VS BUY AT UBS
*JUNGHEINRICH CUT TO HOLD VS BUY AT DZ BANK
*LANSON-BCC CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*LAR ESPANA CUT TO SELL VS HOLD AT MIRABAUD
*LAURENT-PERRIER CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*PEARSON CUT TO HOLD AT SOCIETE GENERALE
*SPORTS DIRECT CUT TO EQUALWEIGHT FROM OVERWEIGHT AT MORGAN STANLEY
*VRANKEN-POMMERY CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*ZURICH INSURANCE CUT TO NEUTRAL VS OUTPERFORM AT MEDIOBANCA
>>> PT Change
>>> Initiation
*FORTIVE RATED NEW NEUTRAL AT ROBERT BAIRD
*JOULES RATED NEW BUY AT LIBERUM; PT 220P
*MELEXIS RATED NEW HOLD AT LIBERUM; PT EU59
*PHILIPS LIGHTING RATED NEW BUY AT ING, PT EU26
>>> Call
>> Stock
*AHOLD ADDED TO CITI FOCUS LIST EUROPE
*SHIRE ADDED TO CITI FOCUS LIST EUROPE
*RBS REMOVED FROM CONVICTION LIST AT GOLDMAN, REMAINS BUY