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
TheStreet Open House

European Stock Indices Edge Lower as Ukrainian Crisis Heightens

LONDON ( The Deal) -- European stock indices edged lower on Monday as the Ukraine crisis escalated and investors braced for new European Union sanctions against Russia for its perceived support of separatists.

Reports said Ukrainian forces withdrew from Luhansk airport in eastern Ukraine following clashes with pro-Russian rebels. Meanwhile, Russia called for an immediate cease-fire, and German Chancellor Angela Merkel signaled further sanctions, even while acknowledging they could harm the European economy.

Geopolitical worries appear to be affecting the U.K.'s strong recovery. Markit Economics said its Purchasing Managers' Index in the U.K. fell to the lowest in more than a year in August. The gauge unexpectedly dropped to 52.5, the lowest since June 2013, from 54.8 the previous month. In the eurozone Markit's PMI fell more than expected to 50.7 from 51.8.

Read More: 10 Stocks George Soros Is Buying in 2014

In London, the FTSE 100 was down 0.02% at 6,818.17. In Frankfurt, the DAX slipped 0.05% to 9,465.26 and in Paris the CAC 40 declined 0.25% to 4,370.24.

In London, ITV was up about 2.3% after the Sunday Telegraph said Liberty Global had been sounding out the U.K. terrestrial commercial TV broadcaster's U.S. shareholders to canvas support for a possible bid. Liberty Global spent 481 million pounds to buy a 6.4% stake in ITV from British Sky Broadcasting Group in July and said at the time it had no plans to mount a bid.

But Britain's leading food retailer, Tesco, declined further after the company gave a profit warning on Friday, and fund manager Harris Associates cut its stake and questioned Tesco's strategy. The stock was down about 1.5% by early afternoon Monday in London.

Sports media company Perform Group was up more than 26% at 257.60 pence on news that 42.5% owner Access Industries had made a buyout offer for the outstanding shares. Access, a vehicle of Len Blavatnik, has offered 260 pence per share, valuing the whole of Perform's equity at 683.5 million pounds ($799.4 million).

In Paris, wireless services provider Iliad fell 4.8% on reports it's trying to revive a bid for Deutsche Telekom's majority-owned U.S. unit T-Mobile U.S. (TMUS - Get Report) in conjunction with private equity investors.

Read More: Warren Buffett’s Top 10 Dividend Stocks

Advertising company Havas was up more than 2% on better-than-forecast first-half figures released late Friday, which showed strong growth in Europe.

1 of 2

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
TMUS $32.38 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

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