Mechel Leads European ADR Gainers as Markets Advance on U.S. Jobs Report, ECB Stimulus Plans

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Mechel OAO ( MTL ) led gainers among American depositary receipts of European companies Thursday as the region's markets advanced to a six-year high after a favorable U.S. jobs report and stimulus plans by the European Central Bank.

The Bank of New York Mellon Europe ADR Index gained 0.5% to bring its year-to-date gain to 4%. The S&P 500 Stock Index rose 0.4%. ADR advancers led decliners 73 to 33.

Mechel, a Russian metals producer, gained 6.8% to $2.03 per ADR. It reached a 52-week low of $1.56 on March 14 as political tensions grew between Russia and Ukraine.


The broad market gains lifted Criteo SA ( CRTO ) +6.5%, Abengoa SA ( ABGB ) +6% and National Bank of Greece ( NBG ) +6%.

Consumer product companies slipped on the possibility that the ECB's plan to weaken the euro would make imported raw materials more expensive. Packaged goods company Unilever Plc ( UL ) fell 1.6% to $44.32 per ADR, spirits maker Diageo declined 1.5% to $126.39 and furniture maker Natuzzi SPA (NTZ) slipped 2.9% to $2.45.

Smith & Nephew Plc (SNN) fell a second day after spiking upward after Bloomberg News reported Medtronic Inc. (MDT) was considering making bid for the medical devices maker. Smith & Nephew fell 2.2% to $89.67 per ADR.



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 , CRTO , ABGB , NBG , UL

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