EUROPE MARKETS: ArcelorMittal Climbs; Antofagasta Slides: European Movers

By Sara Sjolin, MarketWatch

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

Gainers

Steelmakers posted some of the biggest gains in Europe after UBS said it had turned positive on the sector, arguing that now is the right time to play European steel stocks. The investment bank lifted ArcelorMittal SA, up 2.4%, Salzgitter AG , up 3.6%, and Voestalpine AG, 2.5% higher, to buy from sell. UBS also raised Kloeckner & Co SE to neutral from sell, sending the shares 2.1% higher.

Shares of Veolia Environnement SA picked up 2% after Exane BNP Paribas upgraded the water- and waste-management company to outperform from neutral.

Bunzl PLC climbed 1.7% after the distributor of cleaning products and outsourcing company posted a rise in first-half pretax profit.

Shares of WPP PLC picked up 1.6% after the advertising giant reported a rise in first-half profit as revenue improved.

Decliners

Telecity Group PLC slumped 5% after the data-center operator said its chief executive Michael Tobin will step down by the end of October.

Shares of GDF Suez SA gave up 1.8% after UBS cut the French utility company to neutral from buy.

Antofagasta PLC slumped 3.9% after the miner said earnings fell in the first half of the year, due to lower copper output and weaker prices.

Petrofac Ltd. gave up 2.8%. The oil-services company reported a drop in first-half profit, but said it remains on course to achieve full year targets

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