This Day On The Street
Continue to site right-arrow
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 Rise as Crimea Votes for Independence

Stocks in this article: VOD

LONDON (The Deal) -- European markets -- including Russia's -- recovered their poise in morning trading on Monday, as the fear that Crimea would vote to secede from Ukraine and join Russia became a certainty. Moscow's Micex Composite, which had a bad week last week, was up 1.43%. Paris, Bonn and London managed more modest rises. The markets are still cautious in the face of the risk that Russian President Vladimir Putin might choose to escalate the situation in the face of Western sanctions, but so far the mood is calm.

Business goes on, whatever the threat of sanctions. This morning Russian oil company Rosneft announced it is taking a stake in Camfin, a vehicle which holds a dominant 26% share in Italian tire company Pirelli. Rosneft is buying the shares from Italian private-equity firm Clessidra, which invested in 2013. Pirelli was down 1.99% at 11.80 euros a share in Milan.

And in Frankfurt, German utility RWE rose about 1.55% to 28.5 euros on the sale of its oil and gas exploration unit RWE Dea to LetterOne, an investment vehicle of Russia's Alfa Group, for an enterprise value of 5.1 billion euros, or $7 billion.

In London, telecoms giant Vodafone (VOD) rose just over 1% to 224.4 pence on news that it has agreed to buy Spanish cable company Grupo Cooperativo ONO for 7.2 billion euros ($10 billion) from a consortium of private-equity firms including Providence Equity Partners, Thomas H. Lee, CCMP Capital and Quadrangle Capital. Vodafone said it foresaw 240 million euros a year in synergies from the deal and the opportunity for continued growth in the Spanish market.

Construction, building supplies and property also took the London market upwards this morning, with housebuilder Persimmon topping the leader board, up 6.2% at 1,392 pence. That was partly on an announcement at the weekend that the government plans to extend a scheme to help first-time housebuyers and part on news from online real estate agent Rightmove of record asking prices.

London's FTSE 100 was up 0.42% 6,556, in Paris the CAC 40 was up 0.74% at 4,248 and in Frankfurt, the DAX rose 0.54% to 9,105.54.

Asian  markets were less sanguine overnight, with Tokyo's Nikkei 225 down 0.35% at 14,227 and Hong Kong's Hang Seng down 0.3% at 21,473.95. But in China where there are relatively few international traders and the government announced it was widening the band in which the local currency, the renminbi or yuan, can trade against the dollar, the Shanghai composite closed up 0.95% at 2,023.67.


Select the service that is right for you!

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • 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