Qiwi Plc (
) led declines among American depositary receipts of European
companies Thursday after the U.S. and European Union set tougher
sanctions against Russia. Markets also fell on news that a
Malaysian passenger plane had crashed in Ukraine.
President Barack Obama announced the sanctions targeting Russian
banks and energy companies because of Russia's military support for
separatists in Ukraine.
European ADRs fell 1.1% on average to a week low, as measured by
the Bank of New York Europe ADR Index, compared with a 0.7%
declined for the S&P 500 Stock Index. Europe ADR decliners led
advancers 91 to 15.
Qiwi Plc (
), a Russian operator of payment systems, fell 7% to $41.36 per
BP Plc (
), the U.K. energy company that owns a stake in Russia's
state-controlled Rosneft, fell 2.3% to $51.09 per ADR.
Mechel OAO (
), a Russian mining company, fell 3.6% to $1.90 per ADR. The
company said it sold off its ferroalloys unit after selling two
plants in 2013.
Vimpelcom Ltd. (
), a Dutch company that operates telephone networks in Eastern
Europe, fell 3.6% to $8.65 per ADR.
European banks that fell on the sanctions included: ING Groep (
) -3.2%, Royal Bank of Scotland Group Plc (RBS) -2.6%, Barclays Plc
(BCS) -2.5%, National Bank of Greece (NBG) -2.3% and Bank of
Ireland (IRE) -2.1%.
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