By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- Here are some companies whose shares
made notable moves in European trade Tuesday.
Weir Group PLC: Shares of the engineering company climbed 2.5%,
topping the FTSE 100, after being upgraded at Credit Suisse to
outperform from neutral. Weir could see an upside of roughly 10% to
fiscal 2016 earnings before interest, taxes and depreciation, in
part on improving upstream oil-and-gas markets, analysts said.
IMI PLC: Shares of the engineering firm fell 1.9% following a
downgrade by Credit Suisse to neutral from outperform. The analysts
said Weir Group "offers a better relative risk return profile over
a two-year horizon," than IMI does.
Vallourec SA: The steel pipe maker was upgraded to buy from
neutral at UBS, prompting a 5.1% rise in its shares
GAM Holding AG: The investment manager's shares fell 0.8%. Chief
Executive David Solo, who has been in charge since 2004, plans to
step down at his request on Sept. 8, GAM said. Alexander Friedman
will be the new CEO.
Luxottica Group SpA: The Italian eyewear maker fell 0.8%
following the departure of Chief Executive Andrea Guerra, who had
held the role for nearly 10 years. Guerra told reporters the move
comes after differences with founder Leonardo Del Vecchio.
Luxottica, which makes Ray-Ban sunglasses, among other brands, will
now be run by two co-CEOs.
The Stoxx Europe 600 slipped less than 1 point to end at
342.75.
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