Qiwi Leads Declines Among European ADRs as Region's Markets Show Mixed Trade on Iraq Concerns

By MidnightTrader.com Staff,

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Qiwi Plc ( QIWI ) led declines among American depositary receipts of European companies on Monday as the region's markets slid on concerns about rising tension in Iraq.

The Bank of New York Mellon Europe ADR Index fell 0.15%, compared with a flat reading for the S&P 500 Stock Index. Decliners led advancers 61 to 48.

Qiwi fell 5.3% to $41.95 per ADR, continuing a slide after the provider of payment services in Russia reached a three-month high of $47.84 after a regulatory filing to sell more stock.

Smith & Nephew Plc. ( SNN ) was flat at $91.41 per ADR, recovering from earlier losses after Medtronic Inc. ( MDT ), a rival maker of medical devices, announced plans to buy Covidien Plc ( COV ) for about $43 billion.

ADR decliners included Criteo Sa ( CRTO ) -4.5%, CGG (CGG) -3.6%, Telecom Italia Spa (TI) -3.5% and Mechel Oao (MTL) -3.4%.

ADR gainers included Sequans Communications Sa (SQNS) +3%, Voxeljet Ag (VJET) +2.5%, Novo Nordisk As (NVO) +1.7% and Randgold Resources Ltd. (GOLD) +1.5%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: QIWI , SNN , MDT , COV , CRTO

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