Markets
LYG

Europe ADRs Pulled Higher By Oil

European ADRs as a group rose 0.58% to 140.96 on Thursday morning, according to data published by the Bank of New York Mellon Europe ADR Index.

While European markets were weighed down by the European Central Bank's surprise move to stop accepting Greek bonds in return for providing emergency funding to Greek banks, U.S.-listed American Depository Receipts were helped higher by oil companies as the West Texas Intermediate and the Brent Crude futures traded up 3.1% and 3.2%, respectively.

BP ( BP ) rose 2.1%, Royal Dutch Shell (RDS.A) gained 1.5%, Statoil ( STO ) was higher 2.6% and Total ( TOT ) added 1.2%.

Other prominent gainers included banks, with Lloyds Banking Group ( LYG ) up 1.9%, Barclays Bank ( BCS ) adding 0.8% and, in continental Europe, Credit Suisse (CS) and Banco Bilbao Vizcaya Argentaria (BBVA) higher 0.4% each.

Other banks didn't fare so well. The National Bank of Greece (NBG) shed 4.9%, Spain's Banco Santander (SAN) fell 0.6% and the Netherland's ING Groep (ING) slipped 0.1%.

Network infrastructure operator Nokia (NOK) was the most active gainer among continental Europe-based ADRs, higher 1.0%, while electrical engineering firm ABB (ABB) added 2.1%. U.K. and Ireland-based gainers included pharmaceutical giant GlaxoSmithKline (GSK), higher 1.5% and microprocessor designer ARM Holdings (ARMH), up 1.7%.

Major losers included Portugal Telecom (PT), down 4.1%, Sequans Communications (SQNS), a provider of fourth generation long-term evolution semiconductors, lower 9.7% after giving a disappointing Q1 guidance.

The most active losers in the U.K. were Vodafone Group (VOD), down 1.7% after reporting Q3 results, and AstraZeneca (AZN), lower 2.1%, after a reporting a Q4 loss.

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

LYG TOT BCS BP

Other Topics

Commodities