>>> Up
*ATLAS COPCO RAISED TO BUY FROM NEUTRAL AT UBS
*BANCA POP MILANO RAISED TO BUY AT HSBC
*BMW RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY
*BMW RAISED TO BUY VS HOLD AT BANKHAUS LAMPE
*CREST NICHOLSON HOLDINGS RAISED TO BUY VS NEUTRAL AT GOLDMAN
*EMIRA PROPERTY FUND RAISED TO BUY VS HOLD AT RENAISSANCE
*EUTELSAT RAISED TO BUY AT JEFFERIES
*FBN HOLDINGS RAISED TO HOLD VS SELL AT RENAISSANCE
*FLSMIDTH RAISED TO HOLD AT HSBC
*FOXTONS GROUP RAISED TO NEUTRAL VS SELL AT GOLDMAN SACHS
*GEMALTO RAISED TO NEUTRAL VS SELL AT UBS
*HEIDELBERGCEMENT RAISED TO BUY VS NEUTRAL AT GOLDMAN SACHS
*LAFARGEHOLCIM RAISED TO BUY VS NEUTRAL AT GOLDMAN SACHS
*NEW EUROPEAN PROPERTY RAISED TO BUY VS HOLD AT RENAISSANCE
*REDEFINE INTERNATIONAL RAISED TO BUY VS HOLD AT RENAISSANCE
*SKANSKA RAISED TO NEUTRAL FROM SELL AT GOLDMAN SACHS
*TYMAN RAISED TO BUY VS HOLD AT LIBERUM
*UNICREDIT RAISED TO BUY VS HOLD AT SOCGEN
*UNICREDIT RAISED TO BUY AT HSBC
*VOLVO RAISED TO NEUTRAL FROM SELL AT UBS
*ZURICH INSURANCE RAISED TO BUY FROM NEUTRAL AT UBS
>>> Down
*BANCO POPOLARE CUT TO HOLD AT HSBC
*EIFFAGE CUT TO NEUTRAL FROM BUY AT GOLDMAN SACHS
*HYPROP INVESTMENTS CUT TO SELL VS HOLD AT RENAISSANCE
*REDROW CUT TO NEUTRAL VS BUY AT GOLDMAN SACHS
*RESILIENT PROPERTY INCOME CUT TO SELL VS HOLD AT RENAISSANCE
*TAYLOR WIMPEY CUT TO NEUTRAL VS BUY AT GOLDMAN SACHS
*UBI BANCA CUT TO REDUCE AT HSBC
>>> PT Change
>>> Initiation
*CRH RATED NEW BUY AT GOLDMAN SACHS, PT EU32.3
*JIMMY CHOO RATED NEW OUTPERFORM AT RBC; PT 200P
*STATOIL ASSUMED AT UNDERPERFORM AT CREDIT SUISSE; PT NOK114
>>> Call
>> Stock
*CREST NICHOLSON ADDED TO GOLDMAN SACHS CONVICTION BUY LIST
*HEIDELBERGCEMENT ADDED TO GOLDMAN SACHS CONVICTION BUY LIST
*SWISSCOM REMOVED FROM CITI FOCUS LIST EUROPE; STAYS BUY