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, Asian Stocks Follow Wall Street's Lead Lower

LONDON (The Deal) -- European and Asian markets headed down Monday, taking a lead from Wall's Street's reversal Friday and renewed geopolitical tensions in Ukraine. Moscow's Micex Composite fell over 1.6% to 1,359.83 by the end of the morning. But markets were trailing across Western Europe too, with Frankfurt, Paris, Madrid and London all in negative territory.

A key question following Nasdaq's hiccup at the end of the week: Are tech stocks overvalued? In London, U.K. chip designer ARM Holdings ARMH sank 2.3% to 973 pence, while in Frankfurt its German rival Infineon was the biggest faller in the blue-chip DAX index, down 2.2% at 8.55 euros a share.

London was down 0.35% mid-morning, at 6,672, while the DAX, more sensitive to events in Ukraine, was down 1.04% at 9,594.

But it wasn't all doom and gloom. In Paris, media group Vivendi made a 1.3% gain after deciding to sell its wireless services unit SFR to preferred bidders Numericable and its backer, Altice, for $23.3 billion. That decision was announced at the weekend after Vivendi shunned a string of alternatives presented by telecom and construction conglomerate Bouygues. Numericable, a cable TV provider, soared over 13.8% to 30.09 euros, despite announcing that it will fund part of the price with $6.44 billion rights issue to existing shareholders.

Numericable's controlling shareholder, cable investor Altice, has agreed to buy the 34.6% stake in Numericable held by the company's British and American private-equity backers, Cinven and Carlyle Group, taking its stake to 74.6%.  It's paying in cash and shares, so Carlyle and Cinven will end up with a stake in Amsterdam-listed Altice. Altice was also up 9% at 32.70 euros.

In Paris, the CAC 40 was down 0.53% at 4,461.

Over in East Asia, doubts about technology and social media stocks also weighed on the markets. Hong Kong was down 0.59% at 22,377.15, while Japan's Nikke i225 closed down 1.69% at 14,808.85. Chinese markets were closed for a public holiday.

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 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

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