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 Trade Mixed, Asian Shares Are Mostly Higher

LONDON ( The Deal) -- European stocks paused for breath on Tuesday, with U.K. indices losing ground as news of strong industrial output increased the chances of a near-term rate rise.

Asian indices took their cue from Wall Street and closed largely in the green, though Japanese markets retreated as the yen rose.

In China, the government cut reserve requirements for certain lenders as it seeks to spur growth. The state statistics bureau said Chinese consumer prices rose at an annual pace of 2.5% in May, just ahead of expectations, and up from the month before, with the monthly rate up 0.1%, defying expectations for a decline. But producer prices fell 1.4% in the year and 0.1% month-on-month.

In the U.K., April figures showed industrial output was 3% higher than a year ago. That was the fastest growth in more than three years and above the 2.8% consensus forecast. Output rose 0.4% month on month.

In London, the FTSE 100 was down 0.41% at 6,846.66. Expectations are shifting toward a Bank of England rate rise from the historic low 0.5% later this year rather than next year.

In Frankfurt, the DAX was up 0.19% at 10,027.81 and in Paris the CAC 40 climbed up 0.15% to 4,596.00.

Bank of Ireland shares dropped more than 3% after Wilbur Ross said he would sell his outstanding 5.5% stake. At the current price the 1.8 billion shares he plans to sell are worth about 495 million euros ($672.5 million)

Oil producer BP (BP - Get Report) slipped slightly after losing a Supreme Court bid to freeze compensation payments related the Gulf of Mexico oil spill in 2010.

Imperial Tobacco rose after announcing plans to hold an IPO of a minority stake in tobacco distribution unit Compania de Distribucion Integral Logista Holdings of Spain.

In Paris, shares in conglomerate Bouygues fell on a Bloomberg report that wireless services provider Iliad had made an informal offer of between 4 billion euros and 5 billion euros or its telecom unit but was rebuffed because Bouygues is seeking between 7 billion to 8 billion euros. 

Meanwhile, Atlanta-based IntercontinentalExchange Group (ICE - Get Report) set a price range for the IPO of its European stock exchanges group Euronext that would value the business at as much as 1.75 billion euros. The shares are to be listed in Paris, Amsterdam and Brussels, and eventually also in Lisbon.

In Tokyo, the Nikkei 225 closed down 0.85% at 14,994.80. In Hong Kong the Hang Seng rose 0.86% to close at 23,135,74. China's securities regulator cleared the mainland China IPO plans of 10 companies, seemingly ending an unconfirmed suspension of stock market listings.

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
Submit an article to us!
SYM TRADE IT LAST %CHG
BP $43.10 -0.71%
ICE $232.17 2.46%
AAPL $125.80 -2.25%
FB $77.56 -1.59%
GOOG $530.80 -1.85%

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs