EUROPE MARKETS: Air France Shares Grounded, Investors Bet On Bookmakers: Europe Movers

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- Here are some of the companies whose shares made notable moves in European trading on Tuesday.

Air France-KLM SA: Shares took at 3.3% hit as a week-long strike by pilots resulted in the airline canceling the majority of its flights on Monday.

Asos PLC: The online fashion retailer's shares dropped 8.9% after the company said 2015 profit would be hurt in part by lower selling prices.

Ladbrokes PLC: The bookmaker's stock bounced up 3.4% and shares of rival Paddy Power PLC gained 2.1% after ratings upgrades at Citigroup. Bookmakers Ladbrokes was raised to neutral from sell and Paddy Power was lifted to buy from neutral.

Orange SA: Investors pulled shares down 1.4% in the wake of the French telecom company's EUR3.33 billion ($4.31 billion) buyout offer for Spanish broadband and mobile phone operatorJazztel PLC. Jazztel shares climbed 6.1%.

Pearson PLC: The publisher's shares are "worth owning again," said Morgan Stanley as it upgraded the company to overweight from equal-weight. The shares closed up 1.7%. Restructuring at the firm appears to be complete and per-share earnings could grow 15% to 20% in 2015, the broker said.

Thomas Cook Group shares fell 6.2%. Bookings in Germany at the travel services company have recently moderated due to angst over geopolitical events and a more subdued economic outlook stemming from further European Union sanctions against Russia, a major trading partner for Germany.

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