BUZZ-Top of the Street: Glencore, Inditex, Anglo American

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** 4-star-rated Deutsche Bank (IOB: 0H7D.IL - news) upgrades Glencore (Frankfurt: 8GC.F - news) to "buy", saying co has the most diversified commodity portfolio and highest exposure to commodities geared to the growth in EVs (copper, cobalt, nickel)

** Exane BNP Paribas 5-star-ranked analysts cut Inditex (Amsterdam: IT6.AS - news) to "neutral", citing recent currency moves, subsequent earnings momentum, forecasts below consensus and "little reason to argue for a re-rating"

** Deutsche Bank downgrades Anglo American (LSE: AAL.L - news) to "sell" as high bulk exposure makes the company vulnerable to lower demand and prices in Q4 and 2018. Analysts expect 2017 to be a peak for cash flows given declining prices and rising capex requirements over the medium term (*Analyst rankings from Thomson Reuters StarMine. Scale is from 1-star to 5-star with 5 being best. Analysts ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods) (anita.kobylinska.thomsonreuters.com@reuters.net bakir.dursun.thomsonreuters.com@reuters.net)