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.

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

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