Energy companies led gains in American depositary receipts of European companies on Thursday as oil prices rose to a nine-month high on concerns about supply disruptions in Iraq.
Press reports said militants took control of Kirkuk, an oil-producing city in northern Iraq. Oil advanced 1.7% to about $106 a barrel in New York.
The Bank of New Mellon Europe ADR Index rose 0.2%, compared with a TK% Tk for the S&P 500 Stock Index. Europe ADR advancers led decliners 61 to 43.
Abengoa Sa ( ABGB ) gained 4.8% to $27.83 per ADR as higher oil prices supported the Spanish builder of solar and renewable energy plants.
Nokia Corp. ( NOK ) rose 0.6% to $8.10 per ADR after announcing plans to buy Media Systems, a Seattle provider of predictive mapping software. Terms weren't disclosed.
Europe ADR gainers included Criteo Sa (CRTO) +5.1%, Amarin Corp. (AMRN) +3.9%, National Bank of Greece (NBG) +2.5% and Novo Nordisk As (NVO) +2.4%.
JPMorgan analysts lowered their outlook for iron ore and cut price targets on European mining companies, leading to declines among Rio Tinto Plc (RIO) -3.2%, BHP Billiton Ltd. (BHP) -1.2%.
Europe ADR decliners included Vodafone Group (VOD) -1.2%, Philips (PHG) -2.1% and Ryanair Holdings Plc (RYAAY) -1.8% and Deutsche Lufthansa AG (DLAKY) -1%.
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