European ADRs Edge Lower as Miners Head South

European ADRs Edge Lower as Miners Head South

American depository receipts of European stocks were 0.3% lower at 139.09 on the Bank of New York Mellon Europe ADR Index on Tuesday morning.

Decliners in Continental Europe were led by Logitech ( LOGI ), a Swiss hardware and software products developer, 6.5% lower, followed by Novartis ( NVS ), a Swiss health care products manufacturer, down by 3.4% and Sanofi ( SNY ), a French healthcare company, 1.2% lower. AB InBev ( BUD ), a Belgian brewing company, was down by 1.0%.

In the UK, National Grid ( NGG ), an electricity and gas utility company, was 1.1% lower, followed by GlaxoSmithKline (GSK), healthcare company, down by 0.8% and gold mining company Randgold Resources (GOLD), 0.6% lower. Rio Tinto (RIO), a mining company, was down by 0.3%.

Gainers in Continental Europe were led by Deutsche Bank – Global Registered Shares (DB), up by 3.2%, followed by Credit Suisse (CS), a Swiss financial services company, 1.1% higher and STMicroelectronics – New York Shares (STM), a manufacturer of semiconductors, also 1.1% higher. ING Groep (ING), a Dutch financial services company, was also 1.0% higher.

And, in the UK, oil and gas production companies Royal Dutch Shell – A Shares (RDS.A) and BP (BP) were 0.9% and 0.7% higher, respectively, while Barclays Bank (BCS) was 0.6% higher. Fly Leasing (FLY), an aircraft leasing company, was up by 0.5%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

Related posts