Citigroup initiates buy on Shire, target price 2400p.

UBS initiates buy on Yule Catto, target price 235p.

Nomura downgrades Drax Group from neutral to reduce, target price raised from 380p to 485p.

Goldman Sachs upgrades Laird from sell to neutral, target price raised from 140p to 170p.

Seymour Pierce initiates hold on APR Energy, target price 1000p.

Numis initiates hold on PZ Cussons, target price 338p.

HSBC initiates neutral on Petrofac, target price 1400p.

Citigroup initiates buy on Shire, target price 2400p.

Evolution Securities upgrades Findel from add to buy, target price cut from 7p to 5.5p.