- Halfords downgraded to equalweight from overweight at Morgan Stanley, target price cut to 375p from 445p. Tullow Oil reiterated overweight at Morgan Stanley, tp 1,580p.

Amlin reiterated underweight at JP Morgan, target price raised to 381p from 371p. JPMorgan reiterated overweight on Aviva, target price reiterated at 524p.

Citigroup reiterated buy on Marks & Spencer, target price raised to 450p from 425p. Reiterated buy at Nomura, tp raised to 460p from 430p and reiterated neutral at UBS, tp raised to 400p from 380p.

Deutsche downgraded National Grid to hold from buy.

Altium initiated buy on Innovation Group, target price 22p.

HSBC neutral on Mitie Group, target price raised to 240p from 220p.

JPMorgan reiterated overweight on Paragon Group.

JPMorgan reiterated overweight on SABMiller, target price reiterated at 2400p.

JPMorgan reiterated overweight on Homeserve.

JPMorgan neutral on Hiscox, target price raised to 427p from 383p.

Citigroup downgraded Invensys to hold from buy, target price cut to 330p from 380p.

At 2:51pm:

[LON:AML] Amlin share price was -8.3p at 416.2p

[LON:AV.] Aviva share price was +0.95p at 420.45p

[LON:HFD] Halfords Group share price was -8.85p at 382.95p

[LON:MKS] Marks and Spencer Group share price was +1.8p at 387.4p

[LON:TLW] Tullow Oil share price was -13p at 1292p

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