European American Depositary Receipts rose on Wednesday as U.S.
markets rallied following positive industrial production data.
Industrial production rose more than forecast in March after a
February gain that was twice as big as previously estimated,
indicating U.S. factories recovered from severe winter weather that
affected industry in the first two months of the year.
European ADRs continued to make strides even as consumer prices
in the European Union rose just 0.5% in March from a year prior,
pointing to a threat of deflation.
The BNY Mellon Europe ADR Index rose 0.43% to bring its
year-to-date gain to 0.42%.
Among European ADRs noting losses in Wednesday's session, Credit
) reported Q1 revenue fell to CHF6.47 billion ($7.3 billion), a
decline from CHF7.01 billion. Net income was CHF859 million, down
from CHF1.3 billion in the year ago quarter. The results were below
CS was down 2.3% at $31.30 trading in a 52-week range of $25.93
Among the European ADR gainers, Veolia Environnement (
) was up 3.23% at $19.81, close to the top of its 52-week range of
$10.98 to $20.31.
And, Eni SpA (
) ADRs were up 1.35% at $51.62, marking a new 52-week high at
$51.62 Wednesday after the oil company's CEO Paolo Scaroni was
replaced with company executive Claudio Descalzi on Tuesday.
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