* GREECE: Eurozone finance ministers gave a clear indication they were preparing to paper over Greece’s failure to hit international lenders’ mandated budget targets for 2011, saying they would now evaluate Athens’ performance based on goals that combine both this year’s and next year’s finances (FT).
* HSBC: the co will consider selling regional units of its non-life insurance assets business separately, Bloomberg reports, citing three people familiar with the matter.
* BP: the co’s 110,000 barrel-a-day Castellon oil refinery in Spain had a “small” fire at a furnace yesterday, a company spokesman said (BBG).
* GDF SUEZ: the co completed the sale of its G6 Rete Gas unit in Italy to a group including Axa Private Equity, Enel Distribution and F2i infrastructure fund, valued at €772m.
* SANOFI: the co’s Genzyme unit is unable to meet patient demand for the Fabrazyme drug for Fabry’s disease, the company said in a statement. Cerezyme supply should begin to improve in February, the company added.
* UPGRADES: Tesco (UBS). Linde, Johnson Matthey (HSBC). Henderson (Numis). Ericsson (Citi). BHP Billiton (CS). Fraport (Exane).
* DOWNGRADES: Ashmore, Dexia, Kaba (UBS). Danone (JPM). Anglo American, Lonmin (CS). Mediaset, Man Group, Yara (MS). GDF Suez, Umicore (HSBC). Vinci, Ferrovial (Exane). * CORP. DIARY: AXA AGM, Gecina AGM, Wolseley (UBS).
* MACRO DIARY: UK – PMI Construction (09:30). EC – PPI (10:00). US – Factory Orders (15:00). Speakers: Fed’s Raskin (14:00). Trichet (14:00). Bernanke (15:00). Merkel (17:00).