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!

European Stocks Flat as Eurozone Growth Misses Forecasts

LONDON (The Deal) -- European stocks were little changed on Thursday after a mixed day in Asia as GDP figures highlighted the divergent paths of major world economies.

The eurozone economy expanded 0.2% quarter on quarter, and 0.9% on the year, slightly below expectations, as French and Italian data disappointed while German expansion beat forecasts. Consumer price growth in the eurozone accelerated on an annual basis in April, separate data showed, with the core inflation rate at 1%.

Earlier in the day, Japanese data showed the economy expanded 5.9% in the first quarter, beating forecasts. The rise came ahead of an April sales tax rise which some economists worry could lead to a second-quarter contraction.

U.S. April consumer price data and weekly jobs data, out at 8.30 a.m. EDT, could set the tone for the afternoon session in Europe.

In London, the FTSE was down 0.02% at 6,876.97. In Frankfurt, the DAX edged up 0.02% at 9,756.07. The CAC in Paris slipped 0.20% to 4,491.82.

In Paris, Alstom slipped after the French government awarded itself new powers to intervene in takeovers. That could derail General Electric's (GE) agreed $15.6 billion bid for Alstom's power unit, an offer the government has said it opposes.

Luxury goods maker Cie. Financiere Richemont, the owner of the Cartier and Montblanc brands, was up almost 5% after posting rising full-year results and profit and disclosing revenue had increased in all its geographical markets apart from Japan.

In Frankfurt, postal services operator Deutsche Post slipped after first-quarter earnings fell short of estimates.

In London, both Carphone Warehouse and Dixons Retail fell after confirming a long-awaited 50/50 merger to create a phones and appliances retailer with a market value of about 3.75 billion pounds ($6.28 billion). Carphone Warehouse will technically be the acquirer, swapping 0.155 of a share for each Dixons share, but the merger partners have split the management positions between the two groups.

London Stock Exchange Group  was one of the lead gainers on the FTSE 100 after posting a 50% increase in full-year revenue and saying it had identified extra savings from its recently acquired LCH.Clearnet Ltd. clearing house unit.

But FTSE 250 constituent Thomas Cook Group, a tour operator, tumbled on concern about summer bookings after delivering a generally upbeat set of results first-half results. The bulletin showed its loss narrowed, while its debt fell about a third from a year earlier. The company's shares have surged way ahead of peers in the past year as a restructuring plan by CEO Harriet Green has panned out.

In Tokyo, the Nikkei closed down 0.75% at 14,298.21 and in Hong Kong the Hang Seng rose 0.66% to close up 22,730.86.

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 17,089.69 +10.12 0.06%
S&P 500 2,002.46 +5.72 0.29%
NASDAQ 4,576.89 +19.1950 0.42%

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