EUROPE MARKETS: Air France Climbs; Inditex Slides: Europe's Big Stock Movers

By Sara Sjolin, MarketWatch

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

Gainers

Air France-KLM SA put on 3.6% after the French prime minister, Manuel Valls, called for an end to the strike by Air France pilots.

Shares of ICAP PLC jumped 4.8% after UBS lifted the markets broker to neutral from sell.

Shares of pulp and paper company UPM-Kymmene Oyj added 2.6% following an upgrade from Credit Suisse to neutral from underperform.

Ebro Foods SA climbed 2.3% after UBS lifted the Spanish food company to buy from neutral.

Decliners

Shares of Cie. Financière Richemont SA slumped 4.1% after the luxury-goods company, which owns Cartier and watch brands such as IWC and Jaeger-LeCoultre, reported sales growth below analysts' estimates.

Daily Mail & General Trust PLC slid 6.7%. The media company said adjusted operating profit in one of its divisions will be hit by further delays with its new risk-management software.

Industria de Diseno Textil SA , also known as Inditex and the owner of the Zara brand, reported a drop in profit, pressured by political and economic turmoil in some of the company's high-growth markets. Shares dropped 2.1%.

Smiths Group PLC topped the losers list in London with a 6% drop, after the medical-device and airport-scanner maker posted a fall in full-year revenue and profit, dragged by a weak performance at its detection business.

Nestlé SA (NSRGY) slipped 0.7% after Société Générale cut the food producer to hold from buy.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires