LONDON (MarketWatch) -- Keefe, Bruyette & Woods downgraded Dutch banking and insurance group ING /quotes/comstock/24s!e:inga (NL:INGA 7.65, +0.10, +1.31%) to market perform from outperform, saying the group still has a number of hurdles to overcome before it can complete its restructuring. "In signalling three weeks ago that insurance divestment is likely to be a 2011 event, ING has, as we hoped, released the pressure and prompted a sharp upward correction in the shares. It also inevitably means the catalysts for further outperformance may be thin on the group in 2010," the broker said. ING is selling its insurance operations after the European Competition Commission made the sale a condition of approving state aid the group received.
