European ADRs Slip 0.7% as Ukraine-Russia Tension, Italy Recession, Weak German Factory Orders Weigh on Sentiment


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European ADRs as a group contracted 0.65% to 148.95 on Wednesday morning, according to data published by the Bank of New York Melon Europe ADR Index.

In Europe, Italy's economy unexpectedly slid into recession while German factory orders fell. The euro was at its lowest level since September.

Among the biggest decliners were pharmaceutical companies AstraZeneca ( AZN ), down 3.9% and Shire ( SHPG ) down 4.9%.

Other decliners included the National Bank of Greece ( NBG ), down 1.0%, Portugal Telecom ( PT ) and down 5.3%.

On the upside, the bank ING Groep ( ING ) added 2% while Criteo (CRTO), the analytics firm that serves e-commerce companies, rose over 7% after reporting a 66% increase in Q2 revenue. Voxeljet (VJET), the maker of 3D printers for industrial companies was higher 2.9%. Vodafone (VOD) added 1.2% after being upgraded Tuesday by Redburn Partners to buy from neutral.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: AZN , SHPG , NBG , PT , ING

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