LONDON (The Deal) -- European stock indices moved lower on Tuesday, Jan. 14, following Monday's losses on Wall Street, and in Asia markets closed largely in the red, led by a steep decline in the Nikkei.
In London, the FTSE was down 0.40% at 6,729.95, in Frankfurt the DAX dropped 0.59% to 9,454.28 and in Paris the CAC 40 moved 0.42% lower to 4,245.16.
In the U.K., the annual inflation rate in December slowed more than expected, coming in at 2.00% and hitting the Bank of England's target rate for the first time in more than four years. Declining food, beverages and leisure-industry prices led the index lower, said the Office for National Statistics. Meanwhile, in the eurozone, November industrial output rose at an annual rate of 3%, more than double expectations, and climbed 1.8% month-on-month, after a revised 0.8% decline in October.
In Frankfurt, German drugs wholesaler Celesio lost ground after McKesson (MCK) late Monday said its 6.4 billion euros ($8.7 billion) takeover offer had failed to hit its 75% acceptances level. The San Francisco health care company had had a 50.01% Celesio holding in the bag since October, after striking an agreement with conglomerate Franz Haniel & Cie. GmbH but near-25% shareholder Elliott Management Corp. declined to tender all of its shares to the offer last week and other smaller investors also held back, presumably in the hopes of garnering a future squeeze-out premium.
In Frankfurt, Sky Deutschland, a 21st Century Fox (FOX) affiliate, fell after the European Commission on Monday opened an investigation into film licensing agreements between U.S. studios and European pay-TV operators. But in London another Fox affiliate, British Sky Broadcasting Group, rose after UBS switched its recommendation to buy from neutral and lifted its price target.
In Lisbon. retailer Jeronimo Martins slipped after 2013 sales figures revealed slowing Polish growth in the fourth quarter and JPMorgan analysts downgraded the stock to neutral from overweight.
In Tokyo, the Nikkei 225 closed down 3.08% to 15,422.40 after trading resumed after Monday's public holiday. A Reuters report held out the prospect of a high-profile listing, with Japan's Seibu Holdings and top shareholder Cerberus Capital Management LP said to have reached an agreement to re-list the railways and hotels operator on the Tokyo exchange in the financial year that starts in April.
In Hong Kong, the Hang Seng closed down 0.43% at 22.791.28.
Stock quotes in this article: