Ericsson Leads Gains Among European ADRs as U.S. Markets Rebound From Thursday's Drop

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Ericsson ( ERIC ) led gains among American depositary receipts of European companies Friday after reporting earnings that beat estimates. European listings recovered part of Thursday's losses triggered by news that a Malaysian jet was shot down in Ukraine by a missile.

European ADRs gained 0.7% on average as measured by the Bank of New York Mellon Europe ADR Index, compared with a 0.9% gain for the S&P 500 Stock Index.

Ericsson jumped 7.8% to $12.61 after saying Q2 net profit rose 76% from a year earlier on improved sales in China and Brazil. Alcatel Lucent ( ALU ) rose 4.8% to $3.69 and Nokia ( NOK ) gained 2.6% to $7.58 per ADR.

Qiwi Plc ( QIWI ) gained 3.3% to $40.33 to recover part of Thursday's losses. The Holland-based company operates an electronic payment network in Russia.

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

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This article appears in: Investing , Commodities
More Headlines for: ERIC , ALU , NOK , QIWI


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