EUROPE MARKETS: Weir, Vallourec Climb: European Movers

By Carla Mozee, MarketWatch

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

Weir Group PLC: Shares of the engineering company climbed 2.5%, topping the FTSE 100, after being upgraded at Credit Suisse to outperform from neutral. Weir could see an upside of roughly 10% to fiscal 2016 earnings before interest, taxes and depreciation, in part on improving upstream oil-and-gas markets, analysts said.

IMI PLC: Shares of the engineering firm fell 1.9% following a downgrade by Credit Suisse to neutral from outperform. The analysts said Weir Group "offers a better relative risk return profile over a two-year horizon," than IMI does.

Vallourec SA: The steel pipe maker was upgraded to buy from neutral at UBS, prompting a 5.1% rise in its shares

GAM Holding AG: The investment manager's shares fell 0.8%. Chief Executive David Solo, who has been in charge since 2004, plans to step down at his request on Sept. 8, GAM said. Alexander Friedman will be the new CEO.

Luxottica Group SpA: The Italian eyewear maker fell 0.8% following the departure of Chief Executive Andrea Guerra, who had held the role for nearly 10 years. Guerra told reporters the move comes after differences with founder Leonardo Del Vecchio. Luxottica, which makes Ray-Ban sunglasses, among other brands, will now be run by two co-CEOs.

The Stoxx Europe 600 slipped less than 1 point to end at 342.75.

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