TMCnet News
European ADRs Pushed Down by Banking Losses [Emirates News Agency (WAM) (United Arab Emirates)](Emirates News Agency (WAM) (United Arab Emirates) Via Acquire Media NewsEdge) American depository receipts of European stocks were trading 0.08% lower on Wednesday at 142.30 on the Bank of New York Mellon Europe ADR Index. Financial institutions and banking stocks saw contractions, which were partially offset by gains in hydrocarbon producers and telecommunications companies. Decliners were led by semiconductor manufacturer STMicroelectronics - New York Shares ( STM ), down 9.6%, followed by diversified health-care company Sanofi ( SNY ), down 6.7%. National Bank of Greece ( NBG ), Banco Bilbao Vizcaya Argentaria ( BBVA ), Dutch financial institution, ING Groep ( ING ), Bank of Ireland (IRE) and Barclays Bank (BCS) all saw losses of 6.5%, 3.9%, 2.2%, 2.1% and 1.4% respectively. Voxeljet AG (VJET), a manufacturer of three-dimensional printers, slid 3.1% and commercial jet aircraft leasor Fly Leasing (FLY) contracted 2.0%. Microprocessor manufacturer ARM (ARMH) was also trading 1.4% lower. Gainers included telecommunications operators Portugal Telecom (PT), up 4.3%, and Orange (ORAN), up 2.1% and telecommunications equipment manufacturer Alcatel-Lucent (ALU), up 2.4%. Oil companies Total (TOT) and Statoil (STO), lifted 2.8% and 1.5% respectively while steel production company ArcelorMittal (MT), expanded 1.3%. Media and education company Pearson (PSO) expanded 1.5%, beverage company Diageo (DEO) lifted 1.1% and cruise company Carnival (CUK), rose 0.9%. (c) 2014 Emirates News Agency (WAM) Provided by SyndiGate Media Inc. (Syndigate.info). |