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Market Update

Europe Movers: Imtech, Julius Baer, Randgold, Swatch

Author: Barry Randall
Last Update: 10:55 AM ET February 04 2013

Italian banks were in retreat after the benchmark index dropped more than 2%. UniCredit SpA decreased 5% to 4.39 euros and Intesa Sanpaolo SpA declined 4% to 1.40 euros.

Julius Baer Group Ltd declined 3% to Sfr36.30 after the wealth manager said gross margin declined to 94 basis points from 104 basis points from a year ago six-month period on its asset base of Sfr189 billion or $207 billion.

Randgold Resources Ltd soared 4% to 6,340 pence after the West Africa based precious metals miner increased its dividend payout by 25% to 50 cents a share. The miner also estimated 2013 gold production between 900,000 ounces and 950,000 ounces.

Royal Imtech NV plunged 44% to 11 euros after the stadium infrastructure services provider said it may have to write down at least 100 million euros linked to alleged irregularities in its business in Poland.

Spanish banks also fell on the worries that Prime Minister Rajoy may be forced to resign after corruption allegation indicated that his party maintained secret accounts to funnel payments to officers. Mariano denied the allegations.

Santander declined 3% to 5.85 euros and Banco Bilbao Vizcaya Argentaria SA dropped 2% to 7.15 euros.

Swatch Group AG increased 3% to Sfr252 after the Swiss watchmaker reported net income increase of 26% to Sfr1.6 billion.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc