This Day On The Street
Continue to site
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

The Deal: European, Asian Stocks Follow Wall Street Lower

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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.53 -1.40%
FB $116.45 -0.24%
GOOG $692.75 0.25%
TSLA $240.00 -3.10%
YHOO $36.36 -0.63%


Chart of I:DJI
DOW 17,729.30 -101.46 -0.57%
S&P 500 2,059.25 -16.56 -0.80%
NASDAQ 4,762.78 -42.5110 -0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs