Qiwi Leads Gains Among European ADRs After Pricing Offering; GW Pharmaceuticals Rallies on Epilepsy Drug

By
A A A

Qiwi Plc ( QIWI ) led decliners among American depositary receipts of European companies on Tuesday after pricing a public offering of ADRs.

The Bank of New York Europe ADR Index fell 0.2%, compared with a 0.1% gain for the S&P 500 Stock Index. Europe ADR decliners led advancers 56 to 45.

Qiwi, a provider of payment services in Russia, fell 2.6% to $40.55 per ADR after pricing the ADR sale at $40 each. The company plans to use the proceeds from the sale for general corporate purposes.

Statoil Asa ( STO ) led declines among energy producers as oil prices slid below $107 a barrel on subsiding worries about the Iraqi conflict's effect on supply. The Norwegian company fell 1.8% to $31.27 per ADR. BP Plc ( BP ), Total Sa ( TOT ) and Royal Dutch Shell Plc (RDS-A) all fell less than 1%.

GW Pharmaceuticals Plc ( GWPH ) rallied 16% to $89.37 per ADR to lead gainers. The company said its experimental cannabis product Epidiolex showed positive results in treating epilepsy.

Vodafone Group (VOD) gained 0.7% to $33.11 per ADR after settling a dispute over interconnection charges with Loop Telecom, which has more than 3 million users in Mumbai.

Mechel Oao (MTL) rose 3% to $2.37 per ADR after saying it improved operations by consolidating product shipments at its Mecheltrans unit.

Europe ADR gainers included Voxeljet Ag (VJET) +4.6%, Portugal Telecom (PT) +2.1% and Flamel Technologies Sa (FLML) +2%.



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: QIWI , STO , BP , TOT , GWPH

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

65,878,391
  • $102.25 ▲ 0.12%
60,267,006
  • $16.01 ▼ 1.17%
45,656,511
  • $13.11 ▼ 4.17%
34,766,553
  • $49.43 ▲ 2.85%
34,661,727
  • $3.60 ▲ 0.28%
29,041,259
  • $19.12 ▼ 0.47%
21,343,464
  • $73.855 ▼ 1.04%
19,552,720
  • $10.85 ▼ 3.13%
As of 8/28/2014, 04:03 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com