N IM (h), SRG IM (h), RWE GY (s), NG/ LN (h), IBE SM (h), GAS SM (s), FUM1V FH (h), - ENEL IM (h), ENEL IM (b), ELE SM (b), EDPL PL (b), EDP PL (b), EOAN GY (s), dig CNA LN EFTA00396445 ••• ING downgrade IM NA, RBS downgrade UBSN VX, Jeff downgrade LAF SJ, upgrade TCY LN • Medio upgrade AGL IM, Nordea

et upgrade GBF GY, Equinet upgrade WIN GY Numis upgrade ITV, Equita upgrade SNA IM, Intermonti downgrade CPR IM CBK downgrade SIE GY, CBK downgrade EOAN GY, Numis downgrade JPR LN Barc upgrade GEM IM, MainFirst upgrade SAZ GY, Chev downgrade DIA SM DB initiate TLX GY (hold), DB initiate SDRL NO (buy),

MA SS, SREN SW • MS downgrade GTO FP, DB initiate BAW SJ (s) and downgrade ENRC LN • HSBC initiate INCH LN (ow), uig VASTN NA, DOAS TI, WHA NA, dig EOAN GY, CORA NA, COFB BB SocGen downgrade BES PL, BA/ LN, REP SM & upgrade MGGT LN, MTX GY Reporting Pre-Open: AWR, AXAS, BECN, BTN, CDTI, DRH, EGT, ERF,