BUZZ-Next: bottom of FTSE 100 after Berenberg downgrades

** Next (Frankfurt: 779551 - news) down 3.5 pct after Berenberg cuts rating to "sell" from "hold"

** We believe Next is burdened by its overspaced store estate, which restricts its ability to invest in areas that matter most to the consumer – product and free home delivery, leading to market share erosion -- brokerage says in a note

** Berenberg sees the weather-driven boost to performance and resultant 10% rally providing an opportunity to short the stock

** Next bottom of FTSE 100 & among most actively traded stocks on the index