Mobile TeleSystems Declines as Russian ADRs Face Pressure on Heightened Global Political Tensions


Mobile TeleSystems OJSC ( MBT ) fell as American depositary receipts of Russian companies declined on heightened global political tensions after a Malaysian jetliner was destroyed by a missile over Ukraine.

Germany's central bank said the geopolitical tensions hurt the country's factory output in Q2.

European ADRs declined by 0.5% on average as measured by the Bank of New York Mellon Europe ADR Index, compared with a 0.4% slide for the S&P 500 Stock Index. European ADR decliners led advancers 77 to 39.

Mobile Telesystems, which operates a mobile network in Russia, fell 6% to a two-month low of $17.86 per ADR as countries weighed responses to Russia following the Malaysian airliner disaster.

Qiwi Plc ( QIWI ), which operates an electronic payment system in Russia, fell 5.2% to $38.14 per ADR.

European ADR decliners included Celsus Therapeutics Plc ( CLTX ) -6.5%, Sequans Communications SA ( SQNS ) -4.3% and National Bank of Greece ( NBG ) -4.1%.

Portugal Telecom SGPS SA (PT) jumped 6% to $2.47 per ADR to lead gains among American depositary receipts of European companies after agreeing with Vodafone Group (VOD) to develop an expanded fiber network in Portugal.

Materialise NV (MTLS) gained 2.4% to $12.76 per ADR after analysts at Credit Suisse initiated coverage of the Belgian 3D printing company with an outperform rating.

ASML Holdings NV (ASML) rose 2% to $87.58 per ADR after analysts at Pacific Crest upgraded their rating on the Dutch maker of semiconductor equipment to an outperform rating from sector perform.

European ADR gainers included Italian furniture maker Natuzzi SPA (NTZ) +1.7% and Ireland's Trinity Biotech Plc (TRIB) +1.1%.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: MBT , QIWI , CLTX , SQNS , NBG

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