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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Deal: European Stocks Edge Higher on Good Corporate News

Stocks in this article: ING TM

LONDON (The Deal) -- European stock indices edged higher Wednesday, helped by some good corporate news, following a mixed day for Asian markets.

In Frankfurt, the DAX was up 0.39% at 9,044.44, while in Paris the CAC 40 gained 0.78% to 4,286.35.

Star performers on the French exchange included engineering company Alstom, whose first-half operating profit declined less than expected as orders fell. The company said it will sell up to 2 billion euros ($2.7 billion) in assets, including a minority stake in its transport division, and cut costs.

In the Netherlands, ING Groep (ING - Get Report) rose on announcing an increase in third-quarter "underlying" profit. More importantly, the financial services group said it had thrashed out a plan with state aid watchdogs at the European Commission that will allow it to complete its restructuring by the end of 2016, two years earlier than expected. The EC will let it bundle its hard-to-shift Japanese insurance business with its European insurance activities and begin disposing of the combined business through an IPO next year.

The European Central Bank meets Thursday and few observers expect any change to the 0.5% benchmark rate despite mounting evidence the eurozone economy could do with an adrenalin shot. Bank of England rate setters also meet Thursday and look set to come under increasing pressure in the months ahead to move in the opposite direction.

In London, the FTSE 100 edged up 0.15% to 6,757.10 as a report showing industrial output had risen more than expected in September, according to the Office for National Statistics. Output increased 2.2% year-on-year, whereas the consensus forecast had been for a rise of 1.8%.

In Hong Kong, the Hang Seng closed down little changed at 23,036.94, while mainland Chinese indices posted sharper losses as members of the Communist Party prepare to convene in Beijing for an economic planning meeting. In Tokyo, the Nikkei 225 climbed 0.79% to 14,337.31. Toyota (TM - Get Report) may rise sharply Thursday after lifting its full-year profit forecast after the close of trading.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!


DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

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