European Stocks to Watch
Here some of Tuesday's big movers on European stock markets: Cadbury Schweppes, Altana, Altadis, Alliance Boots, SABMiller, Lagardere and Swisscom.
Cadbury Schweppes (up 10.46%) Cadbury Schweppes, the world's largest confectionary group, announced today that corporate activist Nelson Peltz has taken a 2.98% stake in the company, sending shares soaring on the London Stock Exchange.
Altana (up 2.65%) Altana is currently topping the list of DAX advancers following news the company will use the net gain from the sale of Altana Pharma to distribute a higher-than-expected special dividend of 33 euros per share.
Altadis (up 2.22%) Altadis shares gained after the newspaper La Vanguardia reported that Imperial Tobacco had contacted the Spanish cigarette maker to see if it would be interested in a merger.
Alliance Boots (up 2.16%) Alliance Boots rose, with investors expecting Kohlberg Kravis Roberts to make a higher bid after company rejected a 9.7 billion pound ($18.7 billion) takeover proposal from the private equity company on Monday.
SABMiller (down 3.61%) SABMiller fell after Heineken terminated its South African subsidiary's license to manufacture and distribute Amstel lager.
Lagardere (down 3.14%) Shares in Lagardere fell after the media group reported results after the market close on Monday along with a profit forecast which analysts said was largely in line with expectations.
Swisscom (down 2.79%) Switzerland's leading telecommunications company reported a 21% drop in 2006 net profit, amid increasing competition on its home market.