des NUM FP (sell), SocGen upgrades KPN NA (buy) & downgrades RMS FP • Swedebank downgrades MEO1V FH/NCC LN, MS downgrades ING FP, Raja cuts DGE LN, • Numis initiates BKY LN (buy), Pohjola upgrades AKTAV FH and LAT1V FH (buy) • Panmure upgrades GSK LN (buy), UBS cuts ENI IM/DBK GR & upgrades ATO FP (buy)