This Day On The Street
Continue to site
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 Up Following ECB Moves, Ahead of U.S. Jobs Report

LONDON ( The Deal) -- European markets were broadly firmer Friday, following Thursday's stimulus announcements by the European Central Bank, but they were still cautious ahead of the announcement U.S. nonfarm payroll figures later Friday.

Similarly in Asia, many markets rose in early trading given their relief at what they hope will be an increase in global liquidity following the ECB's moves, which included a negative interest rate, meaning banks will pay a fee to park funds with the central bank overnight. But they then eased a little as it became clear that the Federal Reserve's ongoing taper of its quantitative easing program may have greater bearing on the health of their economies than European policies.

China was also served with a warning from the World Bank on its credit growth and urged to tackle the shadow banking system which has been lending money at high rates to municipal borrowers. The warning comes as China's own Banking Regulatory Reform Commission urged mainstream banks to increase lending to small businesses and retail borrowers. The benchmark Shanghai Composite Index closed down 0.54% at 2029.96. Hong Kong's Hang Seng was down 0.69% at 22,951, while in Japan the Nikkei 225 was down just 0.01% at 15,077.24.

Germany's economy has shown signs of picking up, as figures for April exports were better than expected despite the stubborn strength of the European currency. However, 0.2% growth in industrial production, though an improvement on March, was less impressive than analysts had expected. But in London, a more favorable report than last year from the International Monetary Fund on the current government's economic program helped buoy the mood. And the French government also announced an improvement in its budget deficit for April.

The FTSE 100 was up 0.28% at 6,932. In Paris, the CAC 40 was up 0.1% at 4,553 and Frankfurt's DAX index was up 0.22% at 9,969.

In London,electronic games retailer Game Digital announced the offer price for its IPO at 200 pence a share, at the bottom of its pricing range, valuing the company's stock at 340 million pounds ($419 million). But in conditional trading Friday, the share was already down 0.5 pence at 199.5 pence by mid-morning, suggesting that concerns about the large number of retail sector IPOs in recent months have not diminished.

Meanwhile, Italian fashion group Prada saw its Hong Kong-listed shares slide 7% on poor quarterly results that appeared to show Chinese consumers are toning down their conspicuous consumption. Even abroad, high spending Chinese tourists have been keeping those luxury good purchases in check.

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $111.31 0.00%
FB $92.80 0.00%
GOOG $645.44 0.00%
TSLA $241.46 0.00%
YHOO $30.96 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs