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%.

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