This Day On The Street
Continue to site
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

The Deal: European Stocks Flat, Asia Gains on Yellen Remarks

LONDON (The Deal) -- European stock indices held firm and Asian stocks rose after incoming Federal Reserve Chief Janet Yellen defended the central bank's bond-buying program during her confirmation hearing before the Senate Banking Committee Thursday and said she sees no signs of equity "bubble-like conditions."

Meanwhile, the European Union's statistics arm said eurozone October consumer prices rose 0.7% year-on-year, down from a 1.1% inflation rate in September. Prices fell 0.1% on the month.

The fear of deflation was widely believed to be the trigger for last week's shock rate cut by the European Central Bank and Friday's figures, which matched expectations, confirmed the perception that the region's growth is slowing.

In Germany, the DAX slipped 0.05% to 9,144,57, and in Paris the CAC 40 was down 0.04% at 4,282.12. In London, the FTSE 100 gained 0.33% to 6,688.43.

Industrial output figures from the U.S. are likely to set the tone for afternoon trading.

In Paris, Vivendi rose sharply after the media and telecoms group put a first-half time frame on the long-awaited spinoff of wireless services provider Societe Francaise de Radiotelephone as it published third-quarter earnings.

In Australia, GrainCorp plunged more than 4% to A$11.70 on a report that the government is poised to block a A$3.4 billion ($3.2 billion), or A$12.20 per share, bid from Decatur, Ill.-based Archer Daniels Midland (ADM - Get Report). The ruling coalition comprises the free market Liberal Party and the National Party, which draws much of its support from rural Australia. National Party lawmakers have criticized the deal.

In Hong Kong, the Hang Seng climbed 1.69% to 23,032.15, and in Tokyo the Nikkei 225 gained 1.95% to 15,165.92 as the yen continued to decline.

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ADM $33.30 0.00%
AAPL $95.01 0.00%
FB $99.75 0.00%
GOOG $682.74 0.00%
TSLA $147.99 0.00%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs