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

The Deal: European Stocks Get Bump From Yellen Testimony, Asian Shares Higher

LONDON (The Deal) -- Despite extreme weather, European markets opened in a sunnier mood on Wednesday, following Wall Street's Janet Yellen-related rise Tuesday and a similar recovery in Asia, in part on better-than-expected figures on Chinese trade. The new Federal Reserve chairwoman's assurance that interest rates will stay low for a while -- and a similar assurance expected from Bank of England Gov. Mark Carney this morning -- have helped relieve earlier tensions.

One of the big risers in London this morning is the U.K.'s No. 4 supermarket chain, Wm. Morrison. A Bloomberg report said the founding Morrison family, which still owns over 9%, has been considering working with private equity to take the company private. To do so they would have to pay enough to satisfy activist investors, including New York hedge funds Sandell Asset Management and Elliott Management who have been agitating for a sale or spin out of the company's property portfolio. Morrison's was up nearly 3% mid-morning at 244.2 pence a share.

In Paris, French lender Societe Generale de Banque was up nearly 6% at 46.87 euros on better-than-expected fourth-quarter earnings and digital media services group Technicolor was up over 10% at 4.18 euros after an agreement with South Korean electronics giant LG for the use of the French company's patented products in its new smartphones.

The FTSE 100 was up 0.43% at 6705, in Paris the CAC40 rose 0.66% to 4311.69 and in Frankfurt the DAX put on 0.96% to 9569.71.

Over in Asia, China's stronger-than-expected trade data suggested strong global demand for exported goods and improved Chinese demand for resources such as copper.  In Tokyo, the Nikkei 225 closed up 0.56% at 14,800, the Shanghai Composite rose 0.3% to 2109.96 and in Sydney, Australia, the ASX 200 continued its steady rise, going up a 1.06% to close at 5310.05.

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
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!
SYM TRADE IT LAST %CHG
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%
YHOO $44.52 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs