BUZZ-JP Morgan moves towards more defensive chems portfolio for H1

** JP Morgan analysts say European chemical companies will struggle to show earnings growth in 2016, adding "Investors would be wise to seek companies that show some, modest, growth in 2016, at least until the second half"

** Prices remain under pressure from capacity expansions, weak inputs, and slowing Chinese demand, analysts write

** Upgrade Croda (up 2.3 pct), Akzo Nobel (Amsterdam: AKZA.AS - news) (up 0.8 pct) to "overweight" from "neutral", citing former's niche positioning and latter's lack of exposure to weakening yuan

** Cuts rating on Evonik (down 1.2 pct) to "neutral" from "overweight" as the price of its core methionine product softens

** JPM reinstates coverage on Solvay (Brussels: SOLB.BR - news) with "underweight" (down 1.5 pct) saying risk/reward on shares unattractive

** Also reiterates "underweight" on Lanxess (Amsterdam: LX6.AS - news) (down 1.4 pct) and BASF (down 0.4 pct)

** Stoxx 600 Chemicals Index up 0.4 pct on the day (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)