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, Asian Stocks Follow Wall Street Lower

Stocks in this article: FOX MCK

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.

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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