>>> Up
*ADMIRAL RAISED TO BUY VS NEUTRAL AT NOMURA
*ALSTOM RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT MORGAN STANLEY
*BARCLAYS RAISED TO BUY VS HOLD AT BANKHAUS LAMPE
*FINMECCANICA RAISED TO BUY AT GOLDMAN
*IBERDROLA RAISED TO BUY AT HSBC
*MUNICH RE RAISED TO BUY VS NEUTRAL AT CITI
*SANTANDER RAISED TO CONVICTION BUY VS NEUTRAL AT GOLDMAN
*TELECOM ITALIA SAVER SHRS RAISED TO NEUTRAL AT CREDIT SUISSE
>>> Down
*ANGLOGOLD ASHANTI CUT TO SECTOR PERFORM AT RBC CAPITAL
*BIOMERIEUX CUT TO REDUCE VS HOLD AT HSBC
*FASTJET CUT TO HOLD VS BUY AT LIBERUM
*FCC CUT TO REDUCE VS BUY AT KEPLER CHEUVREUX
*GENEL CUT TO HOLD VS BUY AT LIBERUM
*IPSEN CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*MILLENNIUM AND COPTHORNE CUT TO SELL VS HOLD AT BERENBERG
*MMI HOLDINGS CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*SWISS RE CUT TO NEUTRAL VS BUY AT CITI
*UCB CUT TO UNDERPERFORM AT JEFFERIES
*ZODIAC AEROSPACE CUT TO NEUTRAL VS BUY AT UBS
>>> Reiteration
*GEMALTO REITERATE SELL AT GOLDMAN (Note attached)
*SAFRAN REITERATE CONVICTION BUY LIST AT GOLDMAN (Note attached)
*TELECOM ITALIA REITERATE NEUTRAL AT CREDIT SUISSE (NoteAtatched)
*WPP REITERATED TOP MEDIA PICK AT JPM
>>> Initiation
*BANCO POPULAR RATED NEW NEUTRAL AT UBS; PT EU2.35
*BANCO DE SABADELL RATED NEW BUY AT UBS; PT EU1.81
*BANKIA RATED NEW BUY AT UBS; PT EU0.95
*BANKINTER RATED NEW NEUTRAL AT UBS; PT EU6.45
*CAIXABANK RATED NEW NEUTRAL AT UBS; PT EU2.8
*METRO REINITIATED AT BUY AT BERENBERG; PT EU29.90
*PSP SWISS PROPERTY RATED NEW NEUTRAL AT CREDIT SUISSE, PT CHF89
*SANTANDER RATED NEW NEUTRAL AT UBS; PT EU4
*SWISS PRIME SITE RATED NEW UNDERPERFORM AT CREDIT SUISSE
>>> Call
>> Stock
*GLENCORE REMOVED FROM ANALYST FOCUS LIST AT JPMORGAN