European Market Update: Stocks Retreat Following Strong Gains

by: SA Editors

European Indexes

FTSE 100: -0.58%; 6,395.30 (-37.20)
CAC 40: -0.25%; 5,656.13 (-14.44)
XETRA-DAX: -0.08%; 7,864.28 (-6.24)
Dow Jones EURO STOXX 50: -0.37%; 4,378.84 (-16.11)


European Mining Stocks, Rio Drop; Vivendi, WPP Lead Media-Company Advances European mining stocks declined, following the biggest weekly gain in two months, as copper prices retreated. Rio Tinto Group and Anglo American Plc dropped.

Vivendi to Take Controlling Stake in Activision, Rival Electronic Arts French entertainment company Vivendi SA is purchasing a controlling stake in Activision for $9.8 billion, forming a combination that will rival Electronic Arts for the position of world-leading independent video game manufacturer.

U.K. Manufacturing Growth Unexpectedly Quickens, Weakening Rate-Cut Case U.K. manufacturing growth unexpectedly rebounded in November, weakening the case for an interest-rate cut by the Bank of England this week.

Randstad to Buy Vedior for $5.1 Billion to Create No. 2 Staffing Company Randstad Holding NV, the owner of more than 2,800 employment branches, agreed to buy smaller Dutch competitor Vedior NV for 3.5 billion euros ($5.14 billion) to create the world's second-largest staffing company.

France to Sell EDF Stake to Raise as Much as $8.2 Billion for Universities France will sell as much as 3.7 percent of Electricite de France SA, Europe's largest power producer, today to raise 5.6 billion euros ($8.2 billion) for renovating the country's universities.

Bank of England Rate Decision Divides Economists as Inflation Hinders Cut The Bank of England decision this week has divided economists by the most in three years, with a majority predicting policy makers are too concerned about inflation to cut the benchmark interest rate yet.