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

By Staff,

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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 Nasdaq, Inc.

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

This article appears in: Investing Commodities
Referenced Stocks: MTLS , VOD , AMRN , LYG , CRTO

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