European ADRs Post Broad Declines After European Markets Weaken on German, U.K. Economic Data

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American depositary receipts of European companies showed broad declines on Tuesday as the region's markets fell on weaker German trade data and slower U.K. output.

Germany's exports declined 1.1% in May while imports fell 3.4% from a month earlier, the biggest monthly decline since November 2012, according to the federal statistics office Destatis. Meanwhile, U.K. factory output fell 1.3% in May from the prior month, the first drop since November.

The Bank of New York Mellon Europe ADR Index fell 1.2% compared with a 0.8% loss for the S&P 500 Stock Index.

Materialise NV ( MTLS ), a Belgian 3D printing company, fell 6.6% to $13.50 per ADR after saying underwriters exercised their over-allotment option to purchase an additional 1.2 million ADRs at the offering price of $12 each.

Europe's ADR decliners included Vodafone Group ( VOD ) -2.8%, Amarin Plc ( AMRN ) -3%, Lloyds Banking Group ( LYG ) -3.4%, Criteo Sa ( CRTO ) -9% and Voxeljet Ag (VJET) -8.3%,

Koninklijke Philips NV (PHG) gained 1.7% to $31.98 per ADR after saying Deborah DiSanzo stepped down as chief executive officer of Phillips Healthcare as the company restructured.

European ADR gainers included Celsus Therapeutics Plc (CLTX) +3.9%, Natuzzi Spa (NTZ) +2.1% and Turkcell Iletsim Hizmet (TKC) +1.2%.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: MTLS , VOD , AMRN , LYG , CRTO

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