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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

The Deal: Stocks in London, Paris Rise; Asian Shares Gain

LONDON (The Deal) -- European markets seemed ready to build on a generally upbeat pre-Christmas mood Tuesday, as both Paris and London edged up ahead of an early close.
In London, British Land's stock rose a relatively unexciting 0.64% after New York buyout firm Blackstone (BX) sold its 50% stake in their joint venture Broadgate estate in Central London to Singapore sovereign wealth fund GIC. The deal for a reported 1.7 billion pounds ($2.8 billion) is one of the largest in Europe since the credit crunch. The Swiss bank, UBS, is Broadgate's largest tenant.
London's biggest riser was cable TV, broadband and telephony provider British Sky Broadcasting, which announced a $350,000 equity investment in Palo Alto video capture technology and display venture Jaunt, saying the deal will provide additional insight into developments in the sector.
But troubled pawnbroker Albemarle & Bond Holdings, listed on London's junior AIM market, lost 5% when it announced talks with private-equity restructuring firm Better Capital had been broken off. It said it was still in talks with other parties and the formal sales process was ongoing.
Meanwhile in Paris, the CAC40 was up for the fifth day in a row, largely following the strength of Wall Street Monday and a general feel-good factor about the global economy in recent days.
In Asia, China's Shanghai Composite climbed after several straight days of losses, when the People's Bank of China injected Rmb29 billion ($4.8 billion) into the financial system. The central bank's move helped reduce fears over a peak in Chinese interbank lending rates. Banks had been charging each other more than 9% to borrow cash in recent sessions. But it's not clear the move will be enough to keep confidence up for long.
While Frankfurt and Madrid were already closed for the holiday, Paris was up 0.25% at 4,226 by late morning, while in London the FTSE 100 was up over 0.4% at 6,708.
And in Japan, the Nikkei 225 hit a six-year high of 16,029, before closing at 15,889.13, up 0.12% on the day. Japan's confidence, like Europe's, was based in part on the strength of the U.S. economy as well as the assurances. But there's also optimism about Japan's own economy. The Cabinet Office has dropped the word "deflation" from its monthly review of the economy for the first time, even though it still talks about recovery at a moderate pace.

-- Written by Jonathan Braude

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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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