Mechel Leads Declines Among European ADRs as Preliminary Factory Data Weaken From Month Earlier

By
A A A

Mechel Oao ( MTL ) led declines among American depositary receipts of European companies Monday as miners fell on weaker factory data.

Market research firm Markit said its preliminary euro-area manufacturing purchasing managers' index fell to 51.9 this month from 52.2 in May. Economists had estimated an unchanged reading.

The Bank of New York Mellon Europe ADR Index fell 0.3%, compared with a 0.2% slide for the S&P 500 Stock Index. European ADR decliners led advancers 74 to 29.


Mechel, a Russian miner of iron ore, fell 4.6% to $2.08 per ADR, the biggest decline in the materials industry.

CRH Plc ( CRH ) -3.2%, an Irish maker of construction materials, fell as U.K. housing stocks were pressured on reports that the Bank of England this will make proposals aimed at cooling a housing boom.

Banco Santander Sa ( SAN ) fell 0.2% to $10.57 per ADR after the Spanish bank agreed to buy GE Capital's ( GE ) consumer-finance business in Denmark, Norway and Sweden.

Europe's ADR decliners included Qiwi Plc ( QIWI ) -4%, Flamel Technologies Sa (FLML) -3.6% and Abengoa Sa (ABGB) -3%.

Europe's ADR gainers included Voxeljet Ag (VJET) +4.2%, Luxfer Holdings Plc (LXFR) +3.3% and Marine Harvest Asa (MHG) +3.3%.



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: MTL , CRH , SAN , GE , QIWI

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

33,110,376
  • $113.99 ▲ 1.77%
25,034,179
    $17.98 unch
24,486,872
  • $7.41 ▲ 2.07%
20,864,535
  • $7.39 ▼ 2.76%
18,600,501
  • $8.30 ▼ 0.36%
17,530,211
  • $8.14 ▲ 3.17%
17,299,208
  • $93.79 ▲ 2.74%
14,669,760
  • $25.78 ▼ 0.19%
As of 12/26/2014, 04:15 PM


Find a Credit Card

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