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
TheStreet Open House

The Deal: European, Asian Shares Fall Ahead of U.S. Retail Sales

Stocks in this article: GMLBTYA

LONDON (The Deal) -- European and Asian stocks fell on Thursday as investors looked to U.S. retail sales figures out later Thursday for clues as to whether the Federal Reserve will opt to curtail bond buying at next week's meeting.

Analysts expected retail sales to have risen about 0.6% in November after a 0.4% increase in October. The report is due out at 8.30 a.m. in Washington, and together with initial jobless claims figures may influence the outcome of the Fed's Dec. 17-18 meeting.

Figures from the European Commission's statistics arm showed industrial output in the eurozone fell 1.1% month-on-month in October and were up 0.2% in the year. The figures aligned with disappointing output data from Germany on Monday, which showed that the hoped-for rebound from a weak September failed to materialize in October.

In London, the FTSE 100 was down 0.52% at 6,474,18, while in Frankfurt the DAX ceded 0.37% for a reading of 9,043.20. In Paris, the CAC 40 was down 0.03% at 4,085.83.

In Paris, shares in carmaker PSA Peugeot Citroen fell almost  9% after it said it would take a 1.1 billion euros ($1.5 billion) charge in 2013 related to unfavorable exchange rate movements and cut its synergy estimate from an alliance with General Motors (GM) to $1.2 billion by 2018, down from $2 billion by 2016. Those savings would be spread between the two companies. Peugeot  also confirmed talks about a potential joint venture with  China's Dongfeng Motor, which would reportedly produce low-cost cars for the southeast Asian market, and said it is also considering a related capital increase.

In Helsinki, shares in utility Fortum were up almost 5% after it agreed to sell its Finnish power grid to a consortium including Canada's Borealis Infrastructure Management and an investment unit of Commonwealth Bank of Australia. Fortum will book a 1.9 billion euros gain on the  2.55 billion euros sale, it said.

And in Amsterdam, cable company Ziggo jumped 8% after it confirmed its second round of takeover talks this year with near-30% shareholder Liberty Global (LBTYA). At the current price of 33.32 euros, Ziggo has a market value of about 6.7 billion euros. The Dutch company rejected an offer from Liberty Global in October, saying it was too low.

In Tokyo, the Nikkei closed down 1.12% at 15,341.82, while in Hong Kong the Hang Seng dropped 0.51% to 23,218.12.

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • 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