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TheStreet Open House

The Deal: European Stocks Fall as Dollar Rises

LONDON (The Deal) -- European stocks fell sharply on Tuesday and Asian indices were mixed as the euro, pound and the yen fell against the dollar.

In London, the FTSE fell 0.23% to 6,713.00 as a raft of price data for October, including consumer-price inflation, revealed below-forecast price rises.

In Frankfurt, the DAX slipped 0.15% to 9,094.05, and in Paris the CAC 40 lost 0.25% to 4,279.61.

Vodafone (VOD) rose after saying it will increase previously announced capital expenditure to upgrade its networks by 1 billion pounds ($1.59 billion) to 7 billion pounds. Moody's Investors Service said Vodafone's capital expenditure program -- one of the fruits of its sale of the $130 billion sale of Verizon Wireless stake to Verizon Communications (VZ) -- would have other wireless services operators struggling to compete. The U.K. company also reported declining first-half sales and earnings and warned of tough conditions in Europe.

German chipmaker Infineon Technologies fell sharply after a warning about the first-quarter outlook eclipsed solid fourth-quarter results.

Norwegian aluminum maker Norsk Hydro dropped almost 6% after Brazilian mining group Vale (VALE) prepared to sell $1.8 billion worth of Norsk Hydro shares in a secondary offering.

In Askia, the Nikkei 225 in Tokyo posted the biggest gain as the yen fell, rising 2.2% to close at 14,588.68. In Hong Kong, the Hang Seng slipped 0.73% to close at 22,901.41.

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