ARM Holdings Leads Gains Among European ADRs on Q2 Profit Beat; Energy Companies Rise With Oil Prices

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ARM Holdings Plc ( ARMH ) led gains among American depositary receipts of European companies Tuesday after the fabless chipmaker beat earnings estimates.

European markets rose on broader advances among energy stocks as oil prices gained on the possibility of trade sanctions against Russia.

European ADRs gained 0.9% on average to the highest since July 16, as measured by the Bank of New York Mellon Europe ADR Index, compared with a 0.6% gain for the S&P 500 Stock Index. Europe ADR advancers led decliners 80 to 25.


ARM Holdings rose 5.8% to $45.03 per ADR, the highest since July 8, after reporting Q2 profits that beat analyst estimates.

Russian markets advanced to break a seven-day losing streak, lifting ADRs of iron producer Mechel OAO ( MTL ) +3.7% and electronic payment provider Qiwi Plc ( QIWI ) +2.7%.

European energy companies that rose included Total ( TOT ) +2.4%, Eni SPA ( E ) +2.1% and Statoil ASA (STO) +1.2%. French provider of seismic exploration service CGG (CGG) gained 2.5%.

Europe ADR gainers included Amarin Corp. (AMRN) +4.9%, Voxeljet AG (VJET) +3.3% and Flamel Technologies SA (FLML) +3%.

Credit Suisse Group (CS) fell 1.5% to $28.62 per ADR after the Swiss bank reported a Q2 loss on settlement expenses with U.S. authorities.



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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: ARMH , MTL , QIWI , TOT , E

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