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

[video]The Deal: European and Asian Shares Bounce Back

LONDON ( The Deal) -- European and Asian markets bounced back Wednesday following on from Tuesday's rally in New York.

Germany did particularly well with Frankfurt's DAX index at one point hitting a new record of 9643, a jump of nearly 1%. Insurer Allianz and Germany's No. 2 lender Commerzbank moved up strongly, as did auto and utility stocks. But German economic figures released Wednesday also disappointed slightly. GDP growth in 2013 was 0.4%, down from 0.7% in 2012. While consumer spending was up, the German export juggernaut advanced more slowly than in previous years and capital expenditure and investment by industry was down by 2.2%.
In London, fashion house Burberry, with its distinctive tartan designs, hit the market catwalk with a 6.6% rise to 1,574 pence a share after retail revenue rose 14% on the year to 528 million pounds ($866 million). The firm did well in its key Asian markets too, as well as reporting faster growth in its online sales. Departing CEO Angela Ahrendts will be a hard act to follow, especially as the firm warned of currency headwinds later in 2014.
The FTSE 100 was up 0.3% at 6,787.34, the CAC 40 was up 0.4% at 4,291.51 and the DAX was still up 0.82% at 9,618.28.
In Asia, markets also recovered strongly, though not enough to cover all the losses earlier in the week. And there was some concern over a World Bank report, which warned that if central banks in the developed world reined in their economic stimulus programs too abruptly, then emerging economies could be hit even harder this year than they were when outgoing Federal Reserve Chairman Ben Bernanke warned of a Fed taper last May. Last year's uncertainty caused disruption from Turkey to India and Brazil, and it could all happen again as investors withdraw tens of billions of dollars from emerging market funds in the event of what the World Bank called a "disorderly adjustment scenario."
In Japan, the Nikkei 225 closed up 2.5% at 15,808.73, while Hong Kong's Hang Seng Index was up 0.49% at 22,902.

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 $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs