This Day On The Street
Continue to site
ADVERTISEMENT
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 Stocks Continue a Recovery, Asian Shares Are Mixed

LONDON (The Deal) -- European stock indices continued a recovery on Thursday from the  recent selloff and Asian indices closed mixed as the eurozone's central bank prepared to meet to set rates.

Frankfurt policymakers will announce their rate decision at 7.45 a.m. EST, and investors are daring to hope they will take some form of monetary action to combat the threat of eurozone deflation and the dangers to the region's tentative recovery from monetary tightening in the U.S. In November, the European Central Bank cut rates by 25 basis points to 0.25%.  

The Bank of England is due to deliver its own decision on rates at 7 a.m. The benchmark rate has for almost five years been at historic low 0.50% and the next movement is expected to be up.

In London, the FTSE was up 0.53% at 6,492.02 by mid-morning.  In Frankfurt the DAX climbed 1% to 9,207.75, and in Paris the CAC 40 was up 0.88% at 4,253.86.

In Paris, Alcatel-Lucent (ALU) gained more than 9% after it posted its first quarterly net profit in two years and said it had received a binding offer for a majority stake in its Alcatel-Lucent Enterprise unit, which makes phone systems and other business equipment  communications equipment unit, from China Huaxin. The offer values the whole unit at 268 million euros ($362.5 million).

In Zurich, Credit Suisse (CS) tumbled after fourth-quarter profit figures lagged estimates, mainly because of U.S. legal provisions.

After the Tokyo market closed, electronics and media group Sony (SNE) announced it would sell off its Vaio-branded PC business to Japan Industrial Partners and also split out its struggling TV unit into a standalone company, a move which is widely seen as a prelude to an eventual sale. Sony, the target of an activist campaign last year by  Dan Loeb's Third Point LLC, also unexpectedly warned of a 110 billion yen ($1.1 billion) net loss in the year ending March, whereas it had in October predicted a 30 billion yen profit.

The exporters-heavy Nikkei 225, which has been hammered in recent days by a flight to the yen amid emerging-markets volatility, closed down 0.18% at 14,155.12.  In Hong Kong the Hang Seng gained 0.72% at 21,423.13.

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $112.92 0.00%
FB $89.73 0.00%
GOOG $637.61 0.00%
TSLA $242.99 0.00%
YHOO $33.69 0.00%

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs