European American Depositary Receipts rose on Tuesday as U.S.
data and comments from Philadelphia Fed president Charles Plosser
raised optimism that the world's largest economy will continue to
gain growth momentum.
Markets were reassured by comments from Plosser, who said that
Fed Chair Janet Yellen's rate forecast was not aggressive. And
despite the harsh winter, housing data showed the recovery was on
The Bank of New York European index of American depositary
receipts was last up 0.7% at 148.07. Advancers outpaced decliners
in Europe two to one and in the U.K. four to one.
Leading European issues higher in early trade was French medical
device company Edap (
), up 3.7% to $3.05, and Italian luxury eyewear company Luxottica (
), up 3.4% to $55.67.
Telecom Italia (
) was the worst-performing issue from continental Europe, down 0.9%
In other news, France-based specialty pharmaceutical company
Flamel Technologies (
) was last up 1.4% to $13.16 after it posted a sharply narrowed
adjusted Q4 loss, even as revenue fell.
Biopharmaceutical company GW Pharmaceuticals (
), up 3.4% to $64.98, was the best-performing U.K. issue, followed
by mining concern Rio Tinto (RIO), up 2.8% to $52.29. Cruise and
travel company Carnival PLC (CUK) was the worst-performing U.K.
issue, down 3% to $39.20. Carnival Corp (CCL) results disappointed
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