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 Nasdaq, Inc.

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This article appears in: Investing , Commodities
Referenced Symbols: MTL , CRTO , UL

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