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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Deal: European Stocks Mixed on Fears of Slowdown in China Property Market

LONDON (The Deal) -- European markets were mixed in early trading on Monday, with the mood dampened by fears of a slowdown in the Chinese property market which hit sectors, especially mining, with exposure to Chinese economic fundamentals.

But spirits were lifted for a time by an unexpectedly positive reading of German business confidence from the influential Ifo Institute. Its monthly index hit 111.3 - stronger than the 110.6 seen in January and the best reading since July 2011. Meanwhile, the Spanish market reacted positively to a Moody's upgrade at the end of last week. Falling bond yields translated into stronger stock prices. But while Frankfurt and Paris seesawed, the euphoria was soon over and the glum mood returned. and in London, with its big contingent of mining stocks on the main FTSE 100 index, the only way from the beginning of the morning was down.

The FTSE in London was down 0.5% at 6,804, Paris was also down 0.5% at 4,379 and Frankfurt was down 0.2% at 9637.

Looking at individual stocks, German car maker Volkswagen was one of the big movers of the morning. The stock tumbled 6.44% to 188.05 euros as the market got its first chance to react to VW's announcement late on Friday it plans to spend over $9 billion buying up the part of Swedish truckmaker Scania that it does not already own. The same announcement boosted Scania, of course, which was up over 34% at 194.4 Swedish kronor, still less than VW's Skr200 offer.

In London,  the biggest faller was global bank HSBC, which announced, weaker than expected pretax profits this morning at $22.6 billion. The London-based bank fell 3.5% to 630 pence a share. But the mining industry took hits across the board, with Anglo American down nearly 2% at 1,530.5 pence, Rio Tinto (RIO) down 1.7% at 1,539.5 pence and Glencore Xstrata down over 1% at 335.4 pence.

In Asia, the Nikkei 225 was down 0.19% at 14,837.68, Hong Kong's Hang Seng Index was down 0.8% at 22,388.56 and the Shanghai Composite fell 1.75% to 2,076.69

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs