By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Here are the companies whose shares are
making notable moves in European trade on Friday.
Decliners
Tesco PLC shares (TSCDY) slumped 4.5% after the company warned
on profit for the third time in three years, saying it will slash
its interim dividend and reduce capital expenditure, as it battles
with fierce competition.
"We have now lost count of the number of times that we have
downgraded our forecasts for Tesco over the last three years or
so," analysts at Shore Capital said in a note.
Other supermarket chains were hit by the downbeat Tesco news,
with shares of J Sainsbury PLC 3.2% lower, Wm Morrison Supermarkets
PLC off 4.3% and Marks & Spencer Group PLC down 2%.
Shares of Deutsche Lufthansa AG dropped 2% after a strike
earlier on Friday at the airline's Germanwings unit.
Gainers
Fiat SpA climbed 1.1% after shareholders opted not to block a
reorganization that will move its tax residency to the U.K. and
change its primary stock listing to New York.
HSBC Holdings PLC (HSBC) added 0.9% after UBS lifted the bank to
buy from neutral.
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