In a slow start to a week that has had little broker activity, most of the ratings movements were on miners and resource companies. Perhaps what was most interesting was what didn't happen. No broker actually upgraded or downgraded David Jones, following the Woolworths South Africa bid. However BA-Merrill Lynch moved to a No Rating, CIMB Securities retained a Hold, Macquarie is involved in the deal and so is therefore now restricted from making a recommendation and UBS retained a Hold rating. CIMB Securities moved its target price to $4 from $3 and UBS also moved to $4 from $2.85.