EUROPE MARKETS: ArcelorMittal Climbs; Antofagasta Slides: European Movers

By Dow Jones Business News, 
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By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- Here are companies whose shares made notable moves in European trade on Tuesday:

Gainers

Steel stocks posted some of the biggest gains in Europe after UBS said it had turned positive on the sector. The investment bank lifted ArcelorMittal SA, up 4.4%, Salzgitter AG , up 7.2%, and Voestalpine AG, 3.3% higher, to buy from sell. UBS also raised Kloeckner & Co SE to neutral from sell, helping to send the shares 3.5% higher.

Veolia Environnement SA picked up 2.2% after Exane BNP Paribas upgraded shares in the water- and waste-management company to outperform from neutral.

Shares of WPP PLC picked up 1.4% after the advertising giant reported a rise in first-half profit as revenue improved.

Bank stocks were fueled by hopes of asset purchases by the ECB. Shares of BNP Paribas SA climbed 2.1% in Paris, Deutsche Bank AG (DB) gained 2% in Frankfurt and UniCredit SpA jumped up 2.3% in Milan.

Decliners

Telecity Group PLC slumped 6% after the data-center operator said Chief Executive Michael Tobin will step down by the end of October.

Shares of GDF Suez SA gave up 0.8% after UBS cut the French utility company to neutral from buy.

Antofagasta PLC fell 1.2% after the miner said earnings fell in the first half of the year, due to lower copper output and weaker prices.

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This article appears in: Commodities

Referenced Stocks: ANFGY , ARMT34 , ARRB , BNP , BNPQY

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