European shares back in the red for October on weak results
LONDON, Oct 28 Weak corporate results weighed on European shares on Friday, while choppy trading in banking shares took away some of the sector's recent gains.
* Morgan Stanley upgrades Tata Motors to 'overweight' from 'equalweight', citing more stability in the China market, the prospect for improved profitability in India, and a "strong" pipeline for unit Jaguar Land Rover, among other factors. * The upgrade comes as the investment bank raises its view on India's medium and heavy commercial vehicles (MHCV) sector to 'attractive', saying the segment cycle should hit a trough in the next six months. * Morgan Stanley predicts MHCV volumes will recover over fiscal 2014 and 2015 as part of a recovery in industrial activity. * Morgan Stanley also upgrades Ashok Leyland to 'overweight' from 'underweight' calling the bus and truck maker "a good proxy to play the eventual industrial recovery." * Tata Motors is down 1.2 percent, while Ashok Leyland is up 1.5 percent. (email@example.com)
* Indexes up: Dow 0.31 pct, S&P 0.28 pct, Nasdaq 0.19 pct (Adds details, comments; updates prices)
* PM says Khan stoking tensions to boost his popularity (Adds PTI source saying Saturday's rally likely cancelled)