European ADRs as a group contracted 1.55% to 147.54 on Friday
morning, according to data published by the Bank of New York Melon
Europe ADR Index.
As a cease-fire ended in Gaza and the U.S. conducted air strikes
in Iraq, European markets were sharply lower with ECB President
Mario Draghi's recent comments that geopolitical risk is a
particular threat to European markets fresh in investors'
Among the ADR decliners from continental Europe were
pharmaceutical giant Novartis (
), down 0.7%, technology firms ASML Holding (
), down 1.0% and Logitech International (
), down 0.3% and Edap (
), which is developing an ultrasound treatment of localized
prostate cancer, down 4.7%.
Lead ADR decliners from the U.K. included mobile communications
company Vodafone (
), slipping 1.6%, spirits seller Diageo (DEO), down 1.9%, and
mining giant Rio Tinto (RIO), down 0.7%
Banks were the biggest ADR gainers, Spain's Banco Santander
(SAN) and Banco Bilbao (BBVA) both rose 1.2%, Switzerland's UBS
(UBS) and Credit Suisse (CS) were up 2.1% and 1.5% respectively,
and the National Bank of Greece (NBG) rose 0.3%.
Also, bank ADRs from the U.K. and Ireland gained. Lloyd's
Banking Group (LYG) added 0.8%, Royal Bank of Scotland (RBS) was
higher 2.5% and Bank of Ireland (IRE) added 1.5%.
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