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 Stocks Rebound Following 3 Days of Losses

LONDON (The Deal) -- European stock indices rebounded on Tuesday after three days of losses, taking their cue from U.S. futures, while Asian indices closed mixed ahead of the start of Federal Reserve Chairman Ben Bernanke's last policy meeting.

The Federal Open Market Committee meets Tuesday and Wednesday to review monetary policy and Bernanke's term as central bank head expires on Friday. Vice Chair Janet Yellen will take his place.

In the U.K., the Office for National Statistics said gross domestic product expanded 0.7% in the fourth quarter, in line with expectations and down slightly from the 0.8% growth rate of the previous quarter. The annual fourth-quarter growth rate was 2.8%, and the economy expanded 1.9% in 2013, up from 0.3% in 2012 and the fastest pace since 2007, according to the statistics office's preliminary estimates.

Important U.S. data out Tuesday, at 8.30 a.m. EST and 10 a.m., respectively, includes December durable goods orders and the Conference Board's January consumer-confidence index.

In London, the FTSE climbed 0.35% to 6,573.57 and in Frankfurt the DAX gained 0.65% to 9,409.94. In Paris the CAC shot up 0.79% to 4,177.41.
Frankfurt-listed shares of  Apple (AAPL)  were down more than 6% after the company late Monday reported flat profit in its fiscal first quarter and said current quarter revenue would lag analysts' estimates.

Also in Frankfurt, shares in semiconductor maker STMicroelectronics (STM) fell after the company reported a year-on-year decline in fourth-quarter revenue to $2.02 billion and an $36 million fourth-quarter loss. Analysts had been looking for the company to move into the black after a $428 million loss a year earlier.

In London, F&C Asset Management shares were up over 4% after it swiftly disclosed, and less than a day later, agreed upon a 708 million pounds ($1.2 billion) takeover offer from Bank of Montreal. The Canadian bank will pay 120 pence per share, and investors will also get a  2 pence dividend for 2013.

Larger fund managers  Schroders and Legal & General Group also rose.

In India the Sensex index ended the day down 0.1% after the Reserve Bank of India unexpectedly raised its benchmark rate to 8% to 7.75% to curb inflation.

In Tokyo the Nikkei  closed down 0.17% at 14,980.16 and in Hong Kong the Hang Seng slipped 0.07% to 21,960.64.

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 $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs