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!

European Stocks Fall on Disappointing Earnings

Stocks in this article: CS BP VOD AZN PFE

LONDON ( The Deal) --  European stock indices fell, led by  U.K. shares amid disappointing earnings and accelerating price growth.

In London the FTSE 100 was down 0.45% at 6,813.75. U.K. April inflation data showed price growth topped consensus expectations, with the annual rate of inflation accelerating to 1.8%  in April from 1.6% in March, suggesting interest rates may have to rise from their historic low 0.5% sooner than Bank of England Gov. Mark Carney wishes.

In Frankfurt the DAX slipped 0.15% to 9,645.11 and in Paris the CAC 40 fell 0.34% to 4,454.42.

In Zurich, Credit Suisse Group (CS) rose after it pleaded guilty to helping U.S. citizens evade taxes.

In London BP (BP) slipped after  losing an appeal  against claims it  unsuccessfully argued aren't directly related to Gulf of Mexico oil leaks following the explosion of the Deepwater Horizon rig in 2010.

Variety store retailer Marks & Spencer Group lost almost 3% after posting its third year of declining profits. Investors were unmoved by its forecast of improving margins in both food and general merchandise.

Wireless services provider Vodafone (VOD) also declined after  predicting Ebitda in the fiscal year ending March 2015 will fall  to between 11.4 billion pounds and 11.9 billion pounds ($19.2 billion and $20 billion) because of investment and unfavorable foreign exchange movements. Ebitda in the year just ended was  12.8 billion pounds, it announced on Tuesday. Vodafone is investing 19 billion pounds in the two years ending March 2016.

Drugs maker AstraZeneca (AZN) extended Monday's 11% decline after its board made the bold move of rejecting Pfizer's  (PFE) thrice-sweetened 69.4 billion pounds offer.

Schroders became the latest fund manager on Tuesday to criticize AstraZeneca for failing to hold full discussions with the New York bidder, though some investors have voiced support for the British company's board.

Defense equipment supplier Cobham   dged higher after announcing a $1.46 billion deal to buy Plainview, N.Y.-based Aeroflex Holding to add radio frequency technology.

In Tokyo, the Nikkei 225 closed up 0.49% at 14,075.25.  Yahoo Japan surged  almost 12% after scrapping an unpopular ¥324 billion ($3.2 billion) deal to buy wireless services company eAccess from its own 43% shareholder SoftBank.
In Hong the Hang Seng gained 0.57% to 22,834.68. In Bangkok the SET index closed down 1.3% after the Thai army imposed martial law.

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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