European Stocks to Watch
Here some of Thurday's big movers on European stock markets: Altadis, Imperial Tobacco, Pirelli, Cap Gemini, Swedish Match, Omega Pharma and AstraZeneca.
Altadis (up 16.89%) Shares in the Franco-Spanish tobacco group resumed trading higher on Thursday, above the level of Britain's Imperial Tobacco's bid approach made earlier.
Imperial Tobacco (up 8.70%) Imperial said today it had made a cash bid approach for Altadis at 45 euros a share, valuing the firm at 11.53 billion euros ($15 billion), and sending both companies’ shares soaring.
Pirelli (up 7.38%) Pirelli shares rose on news that chairman Marco Tronchetti Provera and Capitalia’s chairman Cesare Geronzi are meeting today to discuss the possibility of selling Pirelli’s stake in Telecom Italia to an Italian Consortium.
Cap Gemini (up 5.51%) Europe’s largest computer consultancy company, Cap Gemini’s shares rose, leading French CAC-40 gainers, after French IT group Atos Origin reported it received an offer from Permira and Centaurus.
Swedish Match (up 4.55%) Swedish Match shares are up after news of Imperial Tobacco's bid for Atladis on hopes that the sector could see further consolidation.
Omega Pharmaceuticals (down 1.40%) The health-care sector is at the top of the Dow Jones Stoxx sector losers, leading the pharmaceutical companies to trade down.
AstraZeneca (up 0.21%) Shares traded down after Morgan Stanley reported that opinion leaders and experienced researchers felt the company’s experimental atherosclerosis drug AGI-1067 may have a negative outcome, according to Dow Jones.