National Bank of Greece Leads Gains Among European ADRs as Markets Rise on ECB Stimulus Plans

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National Bank of Greece ( NBG ) on Thursday led gains among American depositary receipts of European companies after being upgraded. Also supportive, European markets showed broad gains after the European Central Bank cut certain interest rates to a negative level for the first time and announced further stimulus measures.

Bank of New York Mellon's Europe ADR Index rose 0.4%, compared with a 0.3% gain for the S&P 500 Stock Index. Advancers led decliners 65 to 38.

National Bank of Greece climbed 4.7% to $3.79 per American depositary receipt after an upgrade to a buy rating from hold by analysts at Deutsche Bank.

Fly Leasing Ltd. ( FLY ) rose 2.9% to $14.19 per ADR after announcing the purchase of four Boeing 737-800 aircraft that are leased to four European airlines.

European ADR Gainers included Orange ( ORAN ) +3.5%, Prisa (PRIS-B) +3.2% and Abengao SA ( ABGB ) +2.7%.

Smith & Nephew Plc ( SNN ) led decliners with a 5.5% slide to $91.88 per ADR. It reached a record high Wednesday after an unconfirmed press report said Medtronic Inc. (MDT) was evaluating a takeover bid on the company.

Decliners included Arm Holdings Plc (ARMH) -2%, Mechel OAO (MTL) -2.1% and Aixtron SE (AIXG).



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: NBG , FLY , ORAN , ABGB , SNN

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