, Baader downgrades BEI GY ••• Kepler initiates F IM (reduce) & HAW GY (buy), Nordea downgrades VWS DC, Exane upgrades CBK GY ••• Investec upgrades HSBA LN, Shorecap downgrades DGE LN, HSBC adds LHA GY to Europe Super Ten portfolio ••• UBS positive ASC LN, Citi downgrades HGG LN, BofA upgrades RIBH AV,