European ADRs Show Broad Declines After Region's Markets Pressured by

By
A A A

American depositary receipts of European companies declined as the region's markets retreated on corporate profit warnings.

Deutsche Lufthansa, an airline that doesn't have ADRs in the U.S., slumped 14% in Germany after reducing income forecasts. Steel-pipe maker Vallourec fell 11% after cutting guidance.

The World Bank also cut its forecast for global economic growth.


The Bank of New York Mellon Europe ADR Index fell 0.6% to bring its year-to-date gain to 3.7%. Decliners led advancers 74 to 30. The S&P 500 Stock Index fell 0.4%.

Europe's ADR decliners included Agengoa SA ( ABGB ) -3.3%, Bank of Ireland ( IRE ) -3% and Orange ( ORAN ) -3%.

Amarin Corp. ( AMRN ) gained 2% to $1.53 per ADR after analysis showed positive results for its cholesterol-lowering drug.

Randgold Resources Ltd. ( GOLD ) gained 1.7% to $75.32 as gold prices rose for a third day.

Europe's advancers included Natuzzi Spa (NTZ) +1.6%, Criteo Sa (CRTO) +1.6% and Coca-Cola HBC Ag (CCH) +1.3%.



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: ABGB , IRE , ORAN , AMRN , GOLD

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

124,429,622
  • $47.87 ▲ 10.45%
86,937,934
  • $9.99 ▲ 6.28%
74,401,985
  • $7.92 ▲ 11.24%
43,464,235
  • $59.64 ▲ 0.69%
42,148,695
  • $130.28 ▲ 0.47%
41,471,941
  • $34.01 ▼ 0.64%
40,701,089
  • $11.99 ▼ 8.75%
39,983,675
  • $15.64 ▼ 0.32%
As of 4/24/2015, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com