European ADRs Post Small Gains as Investors Await Direction From Federal Reserve Minutes

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American depositary receipts of European companies eked out small gains Wednesday as investors waited for the Federal Reserve to release the notes from its June meeting to get insights on the future of interest rates.

The Bank of New York Mellon Europe ADR Index gained 0.1%, compared with a 0.2% gain for the S&P 500 Stock Index.

Banco Santander SA ( SAN ) rose 1.9% to $10.35 per ADR after the Spanish bank declared a special dividend.

European ADR gainers Flamel Technologies SA ( FLML ) +8.6%, STMicroelectronics NV ( STM ) +1.6% and Qiwi Plc ( QIWI ) +1.4%.

Aviva Plc ( AV ) fell 3.4% to $17.03 per ADR after the U.K. insurer announced a restructuring plan and financial targets that disappointed analysts and investors.

Portugal Telecom SGPS SA (PT) fell 5% to $2.82 per ADR after Brazil's state-development bank announced plans to investigation a debt deal between the Portuguese telephone company and a subsidiary of one its biggest owners.

European ADR decliners included Edap TMS SA (EDAP) -3.1%, Criteo SA (CRTO) -1.9% and Arm Holdings Plc (ARMH) -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.

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


This article appears in: Investing , Commodities

Referenced Stocks: SAN , FLML , STM , QIWI , AV

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