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As possibility of multiple interest rate cuts dwindle here's what banks and building societies are offering

BUZZ-European construction: Goldman shakes up sector recommendations

Reuters - UK Focus

** European construction shares among some of the most traded stocks in Europe as Goldman Sachs (NYSE: GS-PB - news) makes seven ratings changes in the sector

** Says its three key themes for top picks in the sector (developed market exposure, residential construction and operational leverage) still intact

** Upgrades Eiffage (deleveraging, French recovery) and Redrow (valuations) to "buy" from "hold"

** Downgrades Howden Joinery (valuations) and Skanska (US market issues) to "sell" from "hold"

** Cuts Hochtief (recent outperformance), Travis Perkins (lower growth expectations) and Wolseley (EUREX: WLYH.EX - news) (valuations) to "neutral" from "buy"

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** Top picks remain HeidelbergCement (Amsterdam: HC6.AS - news) (developed market recovery) and Wienerberger (most geared to European recovery), both conviction list "buy"

** Howden and Skanska (Stockholm: SKA-B.ST - news) second and third top fallers on Stoxx 600, Eiffage (Other OTC: EFGSY - news) among top risers (RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)