This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Asian Stocks Finish Mostly Higher, Europe Trades Mixed

Stocks in this article: FOX

LONDON ( The Deal) -- Asian markets drew the most attention Monday, while European markets were mixed. Hong Kong and China both performed well despite a hint from Chinese President Xi Jinping that the country should regard its recently slower rate of growth as the new normal. That's because China's State Council over the weekend also reiterated a commitment to financial market liberalization. 


Hong Kong's Hang Seng index closed up 1.82% at 22,261.61 while the Shanghai composite closed up 2.08% at 2.052.87. Tokyo closed down 0.35% at 14,149.52, however, because of a widening trade deficit. India's markets hit record highs on the final day of the country's month-long general election campaign. The business community there is convinced strong leadership by opposition prime ministerial candidate Narendra Modi would end years of ineffectual drift by the current Congress government. But the votes haven't been counted yet and nothing's certain at this point.

In London, mining stocks did well on the assumption that China's reforms would steady demand for metals. The biggest decliner in London was satellite and pay TV leader British Sky Broadcasting, which confirmed early stage talks with controlling shareholder 21st Century Fox FOX to buy Sky TV assets in Germany and Italy. It said little about the Italian situation, but indicated it could acquire Fox's 57% stake in the German company and then make a no-premium general offer to other shareholders, provided the share price remained undisturbed. BkyB fell 2.4% in London, while its German sister company Sky Deutschland shot up 6.2%.

Also in London, mid-cap cell-phone reseller Carphone Warehouse and computers and TVs retailer Dixons International both rose slightly on reports the two could ink a long-rumored merger deal later this week. It's understood to entail an all-share takeover by Carphone of Dixons, though it will be presented as a merger of equals, with the top roles shared between the two companies.

London's FTSE 100 was up 0.2% at 6,828, while in Germany the DAX index was up 0.34% at 9,614.13. But in Paris, with little market moving news to act as a catalyst, the CAC 40 index was down 0.21% at 6,829.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,217.09 +25.72 0.15%
S&P 500 1,999.28 -2.88 -0.14%
NASDAQ 4,620.1820 -17.8120 -0.38%

Partners Compare Online Brokers

Free Reports

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