Markets
BP

Commodities Rally Drives European ADRs Higher

American depository receipts of European stocks were trading 1.3% higher at 130.96 on the Bank of New York Mellon Europe ADR Index on Monday morning.

Commodities and oil production companies were among the biggest gainers on a day when crude oil futures advanced to trade above $46 per barrel. This comes after weeks of stagnant oil prices and follows news that showed that the number of active oil rigs in the US fell for the fifth consecutive week last week.

Gainers in Continental Europe were led by National Bank of Greece ( NBG ), 7.8% higher, followed by steel production company ArcelorMittal ( MT ), 5.5% higher, and oil and gas production company Total ( TOT ), up by 2.8%.

In the UK, oil and gas companies Royal Dutch Shell (RDS.A) and BP ( BP ) rose by 3.0% and 2.7%, respectively.

Decliners in Continental Europe were led by Italian furniture company Natuzzi ( NTZ ), 3.3% lower, followed by Aixtron (AIXG), a provider of deposition equipment to the semiconductor and compound-semiconductor industry, down by 2.2% and Biotie (BITI), a Finland-based biopharmaceutical company, 0.9% lower.

In the UK, National Grid (NGG), an electricity and gas utility company, fell by 1.0% while RELX (RELX), a provider of information solutions, contracted by 0.5% and tobacco company British American Tobacco (BTI) edged 0.4% lower.

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) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

BP NTZ TOT MT

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More