This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

The Deal: Europe, Asia Rise as U.S. Edges Closer to Debt Deal

LONDON (The Deal) -- European and Asian stocks edged higher Tuesday on hopes that the U.S. will solve its budget impasse before the Oct. 17 deadline for Congress to raise the country's debt ceiling or risk default.
In Germany, the Dax was up 0.55% at 8,771.96 as European Union finance chiefs declared they had slain the sovereign-debt dragon, with both Ireland and Spain on track to dispense with aid.
The Cac 40 in Paris was up 0.52% at 4,244.91 and in London the FTSE 100 was up 0.68% at 6,551.61.
Shares in Royal Mail rose for the third consecutive day as full trading began. The stock was up almost 2% at 484.25 pence ($7.73) and is now trading up 47% higher than its 330 pence IPO price on Friday.
Clothing maker Burberry fell 4.7% to 1,510 pence on news that its highly regarded CEO, Angela Ahrendts, will leave to become a senior vice president at Apple (AAPL). Her replacement is Christopher Bailey, who will also retain his role as creative director.
Drugmaker AstraZeneca (AZN) crept up 0.7% after it announced a deal worth up to $440 million to buy private equity-backed oncology specialist Spirogen.
In Zurich, shares in Swiss Re climbed Sfr0.45 to Sfr76.60 ($83.75) on a report that it may sell its Hartford, Conn.-based Aurora National Life Assurance unit, potentially raising more than $400 million.
The Nikkei 225 in Japan closed up 0.26% at 14,441,54 and the Hang Seng in Hong Kong gained 0.51% to 23,336.52, led by retailer China Resources Enterprise.
Chinese and U.K. officials agreed on a deal that will introduce direct trading between the renminbi and the pound and make London the European hub for trading in the Chinese currency. British Chancellor of the Exchequer George Osborne is also expected to announce a relaxation of regulatory requirements for Chinese banks operating in the U.K. The initiatives stem from a trade visit by officials including Osborne and London Mayor Boris Johnson.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $130.42 1.26%
FB $80.41 1.07%
GOOG $555.48 2.13%
TSLA $207.19 1.68%
YHOO $44.45 0.04%


DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs