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 Flat, Asia Gains on Yellen Remarks

Stocks in this article: ADM

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). 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.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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