Europe Movers: Aryzta, Julius Baer, Syngenta, TNT Express

Arthi Gupta
24 Sep, 2012
New York City

Julius Baer plans to cut up to 880 jobs at overseas wealth management business of Merrill Lynch. Aryzta full year group revenue rose 8.5% to

[R]1:30 PM Frankfurt – Julius Baer plans to cut up to 880 jobs at overseas wealth management business of Merrill Lynch. Aryzta full year group revenue rose 8.5% to €4.21 billion. Syngenta raised sales target to $25 billion for the end of the decade.[/R]

Aryzta AG slumped 4.6% to Sfr45.50 after the food company said full year group revenue climbed 8.5% to €4.21 billion and operating earnings increased 12.9% to €444.1 million.

Underlying earnings per diluted share for the fiscal year rose 8.8% to 337.5 euro cents.

European Aeronautic Defense and Space Co. N.V., the aerospace and defense corporation fell 1.9% to €25.22 after the company’s proposed merger with British defense contractor BAE Systems plc is facing obstacles from the French government, according to a report in Handelsblatt on Sunday.

Julius Baer Gruppe AG dipped 0.3% to Sfr33.55 after the Swiss private banking group plans to cut up to 880 jobs at Merrill Lynch''s overseas wealth management business as it integrates the unit, according to a report in the Swiss newspaper Der Sonntag.

Novartis AG rose 0.9% to Sfr57.70 after the healthcare solutions provider announced that Phase III study results show that investigational RLX030 reduced all-cause mortality in patients with acute heart failure or AHF.

Publicis Groupe S.A. dropped 1.9% to €43.24 after the France-based communication group agreed to buy shares in LBi International N.V.

Syngenta AG climbed 0.2% to Sfr344.40 after the agri-business estimates sales for its eight key strategic crops to reach $25 billion by the end of the decade compared with a previous target of over $22 billion, driven by the accelerating rate of innovation and strategy delivery across the company.

TNT Express NV plunged 4.2% to €8.07 after the express delivery company announced the resignation of its chief executive officer Marie-Christine Lombard.

Total SA gained 0.6% to €40.47 after the oil and gas explorer introduced a $15 billion to $20 billion asset sale program over the three years to 2014 and anticipates that the ongoing restructuring of refining & chemicals would contribute positively by $650 million per year to net earnings by 2015.