European American Depositary Receipts rose on Monday as Fed
Chair Janet Yellen soothed investor concerns on stimulus and
tensions eased in financial markets over Russia's move into the
Crimea region of the Ukraine.
Yellen delivered her first speech since becoming chair of the
Federal Reserve and indicated the central bank's support for the
economy will be in place for some time. Russian Foreign Minister
Sergei Lavrov and U.S. Secretary of State John Kerry met in Paris
on Sunday and continue to talk in a bid to resolve the geopolitical
crisis in Ukraine through diplomatic means.
The Bank of New York European index of American depositary
receipts was last up 0.8% at 151.01. European advancers dwarfed
decliners eight to one, while U.K. investors saw advancers outpace
decliners two to one.
Dutch Financial services company ING Groep (
) was the best-performing European ADR, up 4.4% to $14.32, followed
by French oil and gas services company CGG (
), up 3.9% to $15.92. Portugal Telecom (
) was the worst-performing ADR, down 0.7% to $4.29.
Spanish bank Banco Santander (
) gained 2.8% to $9.65 after Deutsche Bank upgraded the stock to
maintain from sell.
Microprocessor design and chip equipment company ARM (
) was the best-performing U.K. ADR, up 2.1% to $49.99, followed by
insurance group Aviva (AV), up 1.8% to $15.88. Medical devices
company Smith & Nephew (SNN) led decliners, down 1% to
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