EUROPE MARKETS: TNT Express Slumps; Rio Tinto Climbs: Europe's Big Stock Movers

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- Here are some of the companies whose shares are making notable moves in Wednesday's European trading session.

Decliners

TNT Express NV sank 11% after the Dutch parcel-delivery company warned that it no longer expects to meet its full-year profit guidance due to weak trading in Europe.

Shares of AstraZeneca PLC (AZN) lost 1.1%. The drop built on a 3.6% loss from Tuesday, after the pharmaceutical company's merger prospects were hit by new tax-inversion rules from the U.S. Treasury Department.

Tesco PLC shares slipped 0.6%, continuing hefty losses after the supermarket chain on Monday cut its full-year profit view by 250 million pounds ($409 million) on discovering an accounting error.

Adecco SA dropped 4.1% after the staffing company said the weak European economy hurt hiring in September.

Gainers

Rio Tinto PLC (RIO) gained 0.9% after Morgan Stanley lifted the mining giant to overweight from equal weight.

Royal Philips NV rose 2%, building on a 3.5% gain from Tuesday when the Dutch conglomerate said it will split into two new companies.

Shares of United Utilities Group PLC picked up 1.5% after the U.K. utility firm said its current performance is in line with its expectations for the six months ending Sept. 30.

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