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 Mover Lower Ahead of U.S. Jobs Data

LONDON (The Deal) -- European stock indices moved downward on Friday, with Chinese stocks roiled by the country's first corporate bond default.

Investors looked to February nonfarm payrolls data from the U.S. later Friday for direction after a volatile week which has been dominated by the geopolitical fallout from the ouster of a pro-Russian government in Ukraine.

Nonfarms payroll data is out at 8.30 a.m. EST.

Meanwhile in China, Shanghai Chaori Solar Energy Science & Technology, a solar panel maker, said it has defaulted on a bond interest payment, in line with a warning it made earlier this week. The default is the first by a Chinese company in a market becoming increasingly nervous about credit quality and appears to signal an end to automatic state intervention to prop up ailing companies.

In London, the FTSE was down 0.29% at 6,769.14. In Frankfurt the DAX fell 0.86% to 9,461.11. Deutsche Telekom fell for the third day after tumbling 3.6% on Thursday as the odds of a swift payday through a disposal of all or part of its stake in T-Mobile US (TMUS) lengthened.

Must Read: The Deal: European Stocks Rise Ahead of ECB, Bank of England Rate Decisions

Just outside the benchmark index of the top 30 German 30 stocks, lifting equipment maker Krones rose as analysts at UBS moved to a buy recommendation from neutral and raised their price target.

In Paris, the CAC 40 was down 0.33% at 4,402.49. Industrial and technology shares including Cie Generale des Etablissements Michelin, Airbus and Alcatel-Lucent (ALU) led the index lower.

In Milan, Telecom Italia bounced back from earlier losses to trade higher after announcing it would scrap the dividend for common shares for the first time in its history as a listed company. Even though 2013 revenue fell 9.1% to 23.4 billion euros ($32.5 billion) and the company posted a net loss of 674 million euros, the company met its debt reduction target and CEO Marco Patuano said he anticipates a domestic recovery and a resumption of dividend payments in 2014.

In Japan, the Nikkei 225 closed up 0.92% at 15,274.07. In Hong Kong, the Hang Seng closed down 0.19% at 22,660.49, with mainland Chinese indices all also closing lower.

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