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 Slip Ahead of Yellen Speech

LONDON ( The Deal) -- European markets were seeing a slow start on Friday as the world waits for Janet Yellen's remarks at Jackson Hole, Wyo., at 10 a.m. EDT. What will she say about employment? What will it mean for U.S. interest rates?

Across the region, banks were among the risers, despite the massive fine levied in the U.S. Thursday on Bank of America (BAC - Get Report) , although Austria's Raiffeisen Bank continued to be dragged down by worries over its Eastern European business.

Click the video below for a closer look at how European markets are faring ahead of Fed Chair Janet Yellen's speech in Jackson Hole, Wyoming:

WATCH: More market update videos on TheStreet TV

In London, RSA Insurance dipped and then recovered, to be up 0.14% by mid-morning at 437.00 pence, on news of the 135 million pounds ($215.6 million) sale of its Hong Kong and Singapore business to Allied World Assurance.

Electra Private Equity Trust, a listed private-equity investor, was up 0.56% at 2,685 pence, after New York activist investor Edward Bramson, who has taken a 19% stake in the company through his Sherbourne Investments vehicle, demanded an extraordinary general meeting of shareholders to shake up its board. Bramson wants two seats for himself and a lieutenant and wants to dump director Geoffrey Cullinan. So far Electra has resisted his demands. But it has to call the general meeting under U.K. rules.

In Paris, Electricite de France was down 1.3% at 24.2 euros after its British subsidiary EDF Energy was hit with a fine of almost $5 million for failing to handle customer complaints properly. But in Frankfurt, another energy company RWE, rose, but only briefly, on news that the German government has given the green light for the 5 billion euros ($6.6 billion) sale of its oil and gas exploration subsidiary DEA to a group of investors around the Russian oligarch Michail Fridman.

In London, the FTSE was down 0.11% at 6,770, while in Paris the CAC 40 was down 0.71% at 4,262. Frankfurt's DAX was down 0.44% at 9,3359.75, while in Moscow the MICEX Composite was down 1.37% at 1,441.71.

In Japan, the Nikkei 225 was off 0.3% at 15,539.19, bucking the Asian trend. Hong Kong's Hang Seng was up 0.47% at 25,112.23, while the Shangai Composite was up 0.46% at 2,240.81.


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
BAC $15.75 0.00%
AAPL $109.50 0.00%
FB $92.47 0.00%
GOOG $639.16 0.00%
YHOO $32.37 0.00%


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs