* UPGRADES: Elan Microelectronics, CJ Cheiljedang (DB). Berkeley Group, Persimmon, TF1 (JPM). Alliance Oil (MS). Atlantia (Exane). Hero MotoCorp (Goldman). (BBG)
* DOWNGRADES: Hopewell Highway, Ashmore Group, Bunge (HSBC). Norilsk (DB). Barratt Developments, OmniVision Technologies (JPM). Enel, Petrobras (Barclays). MTU Aero Engines, Enel (UBS). Schroders, Gamesa, Randstad (Citi). Abertis (Exane). Statoil, DNO (Credit Suisse). BAE Systems (SocGen). (BBG)
* GREECE: Germany wants euro-area finance chiefs to avoid splitting consideration of a 130 billion-euro ($171 billion) Greek rescue and a bond swap to cut the nation’s debt load at a meeting next week, coalition lawmakers were told by German government officials in a briefing.
* BP: Lawyers suing the U.K. oil company over the 2010 Gulf of Mexico oil spill won’t be able to cross-examine witnesses at trial over a post-incident investigation, a judge said. (BBG)
* EON / RWE: OAO Gazprom will strive to forge supply deals with India and China this year as it seeks to win customers outside of Europe, where demand is waning. Gazprom will sign a contract in 2012 to supply liquefied natural gas to India, Alexander Medvedev, the company’s deputy chairman, said in an interview in New York yesterday. Moscow-based Gazprom also “optimistically expects” to cut a deal with China this year, though pricing is still an issue, he said. (BBG)
* AIR LIQUIDE: Air Liquide forecast higher profit this year after reporting 2011 earnings in line with analyst estimates while sales growth slowed as the company slashed costs. (BBG)
* LAFARGE: Lafarge will reduce its dividend by half, double cost cuts and put more assets up for sale to lower debt after reporting a surprise fourth-quarter loss amid writedowns. (BBG)
* AKER SOLUTIONS: Aker Solutions reported an 18 percent increase in revenues and a solid operating result in the fourth quarter of 2011, reflecting strong market conditions and high activity in the oil and gas industry. (BBG)
* CORIO: Corio NV, the largest Dutch real-estate company, said it will increase asset sales fivefold this year to help finance a 2.5 billion-euro ($3.3 billion) pipeline of shopping-center projects. (BBG)
* CORPORATE DIARY: Air Liquide FY Results, Lafarge Q4 Results, SES FY Results, Aker Solutions Q4 Results, Spectris FY Results, Phoenix Mecano Preliminary Results, Umeco Trading Statement, John Lewis Weekly Sales Data.
* MACRO DIARY: GE – Producer Prices (7:00), EuroZone Current Account (9:00), UK – Retail Sales (9:30), EC – Construction Output (10:00), US – CPI (13:30), Leading Indicators (15:00). Speakers: ECB’s Knot (11:30), BoE’s Posen (19:00).