>>> Up
*ALCATEL-LUCENT RAISED TO BUY VS NEUTRAL AT CITI
*AZIMUT RAISED TO OUTPERFORM VS NEUTRAL AT MEDIOBANCA
*HAVAS RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*HEIDELBERGCEMENT RAISED TO BUY VS NEUTRAL AT UBS
*LLOYDS RAISED TO BUY AT JEFFERIES
*PRYSMIAN RAISED TO BUY VS NEUTRAL AT CITI
*RBS RAISED TO NEUTRAL VS REDUCE AT NOMURA
*SULZER RAISED TO NEUTRAL VS UNDERPERFORM AT CREDIT SUISSE
*TOPDANMARK RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*ZURICH INSURANCE RAISED TO OVERWEIGHT VS EQUALWEIGHT: BARCLAYS
>>> Down
*AEGON CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*ALLIANZ CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*ANGLO AMERICAN CUT TO UNDERPERFORM VS SECTOR PERFORM AT RBC
*GENERALI CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*MTU AERO ENGINES CUT TO SELL VS NEUTRAL AT UBS
*RSA INSURANCE CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS
*SUEZ ENVIRONNEMENT CUT TO EQUALWEIGHT AT MORGAN STANLEY
*TALANX CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*TAYLOR WIMPEY CUT TO HOLD VS BUY AT LIBERUM
>>> PT Change
>>> Initiation
*BT GROUP REINSTATED OVERWEIGHT AT BARCLAYS, PT 600P
*DELTA LLOYD RATED NEW UNDERWEIGHT AT BARCLAYS, PT EU15.30
*HANNOVER RUECK SE RATED NEW UNDERPERFORM AT JEFFERIES
*NN GROUP RATED NEW UNDERWEIGHT AT BARCLAYS, PT EU25.20
*SCOR SE RATED NEW HOLD AT JEFFERIES
>>> Call
>> Sector
*EUROPEAN INSURANCE CUT TO NEGATIVE VS NEUTRAL AT BARCLAYS
*EMERGING MARKET EQUITIES RAISED TO OVERWEIGHT AT JPMORGAN