European ADRs Rise in Early New York Trade, Buoyed by German Confidence Data


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European stocks trading in New York rose on Monday as German confidence data increased for a fourth straight month in February and Moody's Investors Service raised Spain's credit rating over the weekend.

The Bank of New York European Index of American depositary receipts was last up 0.3% at 151.13. A rise in the S&P 500 to a new record also bolstered European ADR's.

British-based Vodafone Group ( VOD ) was the most active ADR in New York morning trade with 5.3 million changing hands in the opening minutes, compared with the average daily volume in January of 10.97 million. Its ADRs were up 6.3% at $41.44 with the session peak at $41.81, a break out of the prior 52-week trading range of $24.48 to $39.57.

Verizon ( VZ ) completed its acquisition of Vodafone Group's 45 percent minority interest in Verizon Wireless on Feb. 21.

Other stocks to post large moves in early trade on Monday were diverse.

National Bank of Greece ( NBG ) fell 3.2% to $4.56 and Aixtron ( AIXG ) fell 2% to $16.93, while STMicroelectronics ( STM ) rose 1% to $8.40 and AstraZeneca (AZN) rose 1% to $67.54.

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This article appears in: Investing , Commodities
More Headlines for: VOD , VZ , NBG , AIXG , STM

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