Alcatel Lucent led gains among American depositary receipts of
European companies Wednesday as the region's markets advanced
before Federal Reserve Chairman Janet Yellen was scheduled to
The Bank of New York Mellon Europe ADR Index gained 0.06%,
compared with a flat reading for the S&P 500 Stock Index.
Advancers led decliners 57 to 46.
Yellen, speaking to the International Monetary Fund, said that
while the Fed is mindful of financial stability in setting interest
rate policy, it is not the primary focus. In fact, focusing on
financial stability could bring undesirable volatility to inflation
and employment, she said.
Alcatel Lucent rose 4.8% to $3.70 per ADR after analysts at J.P.
Morgan Cazenove upgraded the maker of telecom equipment to an
Aztrazeneca Plc. (
) gained 1.2% to $75.74 to extend Tuesday's gains after CEO Pascal
Soriot bought more stock in the drugmaker.
CSR Plc. (
) rose 4.4% per $41.99 per ADR a day after Qualcomm (
) was reported to be buying the chipmaker's Israeli operations for
about $45 million.
Criteo Sa (
) gained 3.6% to $35.47 per ADR after analysts at BNP Paribas began
publishing research on the company with an outperform rating and
price target of $52.
European materials companies rose as
hit a four-month high after a report of job growth in the U.S.
Gainers included Arcelormittal Sa. (
) +2% and Rio Tinto Plc. (RIO) +1.7%, BHP Billiton Plc. (BBL) +1.5%
and Ternium Sa. (TX) +1.3%.
European ADR advancers included Bank of Ireland (IRE) +2.4%,
Prudential Plc. (PUK) +1.3% and Abengoa Sa. (ABGB) +1.2%.
Orange fell 4% to $15.49 per ADR after saying it won't pursue a
possible merger or acquisition in France. The French phone company
was reported to be in talks to buy phone company Bouygues Sa.
Ryanair Holdings Plc. (RYAAY) fell 2.6% to $54.63 per ADR as
airlines posted broad declines after Delta Air Lines Inc. (DAL)
reported less-than-expected international revenue.
European ADR decliners included 3D printer maker Voxeljet Ag.
(VJET) -6.4%, water company Veolia Environnement (VE) -3% and
Mobile Telesystems Ojsc. (MBT) -2.6%.
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