European ADRs Lower on as Telecom Companies Fall

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American depository receipts of European stocks were down slightly on Friday as gains in telecommunications stocks were offset by losses among pharmaceuticals and banking institutions.

The Bank of New York Mellon Europe ADR Index was 0.14% lower at 152.58.

Decliners were led by Swiss financial institution Credit Suisse ( CS ), which was down 1.31%, followed by French pharmaceutical company Sanofi ( SNY ), down 0.59% and Logitech ( LOGI ), a provider of personal computer and tablets accessories, down 0.51%.


In the UK, Barclays Bank ( BCS ) was down 1.84%, followed by Royal Bank of Scotland ( RBS ) 1.80% lower and British biopharmaceutical company GW Pharmaceuticals (GWPH), down 1.53%.

Gainers were led by Portuguese telecommunications company, Portugal Telecom (PT), up 3.15%, and Dutch multinational banking and financial services company ING Groep (ING), up 2.13%.

Telecommunications operators VimpelCom-Com (VIP) and Orange (ORAN) were up 1.80% and 1.79% respectively.

In the UK, oil and gas producer BP (BP) lifted1.34%.



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: CS , SNY , LOGI , BCS , RBS

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