Sequans Communications SA (
) led declines among American depositary receipts of European
companies Wednesday as the region's markets showed mixed trade.
German unemployment unexpectedly rose for the first time in six
months to 2.905 million people. Economists had forecast a drop in
The Bank of New York Mellon Europe ADR Index fell 0.5%, compared
with a flat reading for the S&P 500 Stock Index.
Sequans, a French maker of smartphone chips, fell 5.8% to $1.73
per ADR, the fifth day of declines since reaching a one-month high
on May 22.
), France's biggest phone company, fell 3.8% to $15.79 per ADR,
alongside declines in Portugal Telecom (
) -3.6% and Turkcell (
Russian miner Mechel OAO (
) fell 3.9% to $2.01 per ADR as metals producers were pressured
following comments by China's largest developer that housing supply
increasingly exceeds demand. Rio Tinto Plc (RIO) also fell
Smith & Nephew Plc (SNN) rose 3.2% to $2.56 per ADR
following a news report that Stryker Corp. (SYK) planned to bid for
the maker of artificial joints. Stryker later denied the
European ADR gainers included Abengoa SA (ABGB) +9%, Telecom
Italia (TI) +8.1% and Amarin Corp. (AMRN) +8.2%.
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