Amarin Corp. (
) led gains among American depositary receipts of European
companies Thursday as the region's markets advanced after the
Federal Reserve offered an upbeat opinion on the economy and
lowered its forecast for long-term interest rates.
The Bank of New York Mellon Europe ADR Index gained 0.3%,
compared with a flat reading for the S&P 500 Stock Index.
European ADR advancers led decliners 58 to 49.
Amarin rose 5.2% to $1.63 per ADR after an article in the New
England Journal of Medicine on cholesterol helped the maker of a
GW Pharmaceuticals Plc (
) gained 3.3% to $89.73 per ADR after the drugmaker priced the sale
of depositary shares at $86.83 each.
Mining stocks showed broad gains as metal prices rose as the
dollar weakened on dovish comments Thursday by the Federal Reserve.
Advancers included Randgold Resources Ltd. (
) +4.6 and BHP Billiton Ltd. (
Oil companies gained as oil futures rose on continued concern
about the Iraqi conflict's effect on supply. Gainers included Eni
) +1.7%, Total (TOT) +1.2% and Royal Dutch Shell Plc (RDS-A, RDS-B)
CGG (CGG) gained 2.8% to $14.43 per ADR as the French maker of
seismic equipment benefited from elevated energy prices.
Portugal Telecom (PT) rose 1.1% after Moody's Investors Service
raised its credit rating on the telephone company to Baa3, or
investment grade, from Ba2.
Nokia Corp. (NOK) led decliners with a 6.1% slide to $7.82 per
ADR after Amazon.com Inc. (AMZN) entered the handset market with
the unveiling of its first smartphone on Wednesday.
Alstom (ALSMY) fell 6.1% to $3.73 per ADR after General Electric
Co. (GE) revised its offer for the company's energy business.
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