This Day On The Street
Continue to site
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

European Stocks Move Slightly Lower; Asian Shares Are Mixed

LONDON ( The Deal) --  U.K. unemployment was down to 6.8% for the first three months of the year. That's a five-year low, but there's still slack in the economy and inflation hasn't taken off, according to the Bank of England. The Bank's governor, Mark Carney, hinted Wednesday that the first interest rate rises might come within a year but won't head up to pre-crisis levels for some time thereafter.


WATCH:
Jim Cramer's Sunny Outlook, Retail & Tech Earnings Previews
More market update videos on TheStreet TV

Meanwhile, over in the eurozone, industrial production in March fell 0.3% from the previous month, according to a release from the European statistical agency on Wednesday. Worse, industrial production actually shrank 0.1% compared with March 2013, when economists had been expecting significant growth. Economic output for the eurozone was up 0.2% in February, while for the 28-nations of the European Union as a whole, it was just 0.3%.

With so much indifferent economic news to digest, European markets have been relatively subdued Wednesday. London and Paris were trading a little below Tuesday's closing levels. London's FTSE 100 was down 0.04% at 6,870 and in Paris the CAC 40 was down 0.15% at 4,498. In Frankfurt, the DAX was down 0.08% at 9,747 toward midday, despite moving into positive territory at times during the morning.

Must Read: European Stocks Push Higher on Positive Earnings

In London, the biggest riser was contract caterer Compass Group, which was up over 4% at 1,020 pence after announcing a 5.5% increase in operating profits and a special dividend. But commercial broadcaster ITV pwas the biggest faller, down 5.13% to 181.20 pence. It reported increased advertising earnings, but its forecast for ad sales in the second quarter came in slightly below expectations.

Pharmaceuticals giant GlaxoSmithKline (GSK - Get Report)was flat, despite Chinese authorities accusing three of its executives of bribery. The Chinese probe, which was first announced last July, has dented the firm's sales in the country. Meanwhile, Lloyds Banking Group (LYG - Get Report) was up 1.7% at 77.02 pence after European regulators gave a green light for its demerger and planned IPO of over 600 branches under the TSB brand. 

In Germany, power company RWE posted a 15.5% drop in core earnings, the second of the German utility giants to record a big fall this week. Their conventional energy margins have been hit as Germany continues its shift to renewable energy sources. RWE was down 1.67% at 27.15 euros.

 Tokyo closed down 0.14% at 14,405.76 while Hong Kong finished up 1.03% at 22,582.77.

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
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
SYM TRADE IT LAST %CHG
GSK $41.71 0.00%
LYG $5.38 0.00%
AAPL $123.38 0.00%
FB $95.29 0.00%
GOOG $628.00 0.00%

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs