Investec notes that the Indian authorities published a draft policy for telecoms this week. While lacking in some details, it believes there are many positives to be taken from the policy changes for Vodafone.

It says India is an emerging positive catalyst for the Vodafone investment story. It reiterates its “buy” recommendation, maintaining a target price of 230p.

Broker Numis says the RWS valuation continues to be undemanding given the organic growth profile, the quality of earnings, the additional dimension of growth from Inovia (which also enhances RWS's strategic value) and ultimately a potential exit strategy. Its recommendation moves from a “buy” to an “add” given the recent share performance. It has set a target price 484p.

Collins Stewart recently raised its stance on ENI from “sell” to “buy”, saying it felt the severity of its sell-off was overdone and saw catalysts to reverse its underperformance. In particular, the broker thinks the bulk of ENI’s Libyan volumes could recover quicker than the market believes. It placed a target price of €17.00, saying it offers among the best value in the sector.