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 Rise Ahead of U.S. Consumer Confidence

Stocks in this article: AZN PFE LYG

LONDON (The Deal) -- European stock indices generally gained ground on Tuesday, while Asian stocks ended the day largely in the red ahead of U.S. data on durable goods orders and consumer confidence and more commentary from the European Central Bank boss.

In London, where markets were closed on Monday for a public holiday, the FTSE 100 climbed 0.57% to 6,854.94. In Frankfurt the DAX gained 0.41% to 9,933.44 and in Paris the CAC 40 slipped 0.04% to 4,525,31.

From the U.S., investors are watching out for data on April durable goods orders, which will be out at 8.30 a.m. EDT, and on May consumer confidence data, due out an hour and a half later.

European Central Bank President Mario Draghi will reflect on monetary policy in a "changing financial landscape" at an ECB forum in Portugal at 3.30 p.m. local time, or 9.30 a.m. EDT.

Dovish comments from Draghi on rates on Monday propelled the broad European Stoxx 600 index to its highest level since January 2008.

In London drugsmaker AstraZeneca (AZN) fell  almost 2% after Pfizer (PFE) on Monday pulled an indicative 69.4 billion pounds ($116.9 billion) takeover proposal which the New York company had sweetened three times. Pfizer announced its retreat just before a so-called "put up or shut up" deadline from the Takeover Panel, which gives bidders an initial 28-deadline from the  announcement of their takeover interest to either commit to making a bid or to retreat.

InterContinental Hotels Group was up more than 5% after a Sky News report that it had received and rejected a 6 billion pounds bid from a mystery U.S. suitor reportedly attracted by the idea of switching its tax domicile to the U.K.

Lloyds Banking Group (LYG) rose after firing the starting gun on the long-awaited  London IPO of about 630 bank branches it's carved out to comply with the terms of European Commission approval for state aid it received at the height of the credit crisis.

In Paris leading telecom Orange gained ground after Oddo Securities lifted its recommendation to buy from neutral.

Accor rose  after striking  deal to buy 86 hotels in Germany and the Netherlands for about 900 million euros ($1.2  billion). The seller is Moor Park Capital Partners.

In Taiwan, Asia Pacific Telecom pared earlier gains to close up 1.1% after it agreed to sell a  NT$11.7 billion ($388 million) stake to Hon Hai Precision Industry Co. Ltd. and to negotiate a full-blown merger deal with the Apple Inc. supplier.

In Hong Kong, the Hang Seng closed down 0.08% at 22,944.30, while in Tokyo the Nikkei 225 gained 0.23% to close at 14,636.52.

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

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