HSBA Daiwa: upgraded to outperform from underperform
SDR Jeffries: upgraded to hold from underperform, tp raised to 1280 from 950
SDR Morgan Stanley: overweight, tp raised to 1395 from 1295
SL. Morgan Stanley: upgraded to equalweight from underweight, tp raised to 260 from 211
TOMK Morgan Stanley: initiated overweight, tp 230
YELL Numis: upgraded to hold from reduce, tp reiterated 43

Upgrades from Credit Suisse on BLT and RIO I believe but no further details.

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