When Aryzta announced its full-year 2019 results last Tuesday, the market winced. Shares in the troubled baker — best known in Ireland for its papery Cuisine de France baguettes — fell 10.9 per cent by lunchtime.  The results are the first good look at whether Aryzta’s turnaround plan, laid out this time last year, is starting to work. After lunchtime on Tuesday, the shares began to rally. By close that day, they were down 6 per cent. And they’ve kept rallying since. Aryzta shares are now up 37 per cent from the Tuesday low, to CHF88.  The market’s confused response…

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