Markets
RIO

European ADRs Edge Lower as Banks, Commodities Retreat

Stock performance with laptop and calculator

American depository receipts of European stocks were trading 2.4% lower at 111.39 on the Bank of New York Mellon Europe ADR Index on Wednesday morning.

Decliners in Continental Europe were led by Banco Bilbao Vizcaya Argentaria ( BBVA ), 4.4% lower, followed by ArcelorMittal ( MT ), a Luxembourg steelmaker, 3.7% lower and Novartis ( NVS ), a Swiss company which manufactures healthcare products, down by 3.6%.

In the UK, mining companies Rio Tinto ( RIO ) and BHP Billiton ( BHP ), were 9.1% and 8.4% lower, respectively, while Barclays Bank (BCS), was down by 3.2%. Bloomberg reported Brazilian police have charged six executives of the Samarco joint venture between BHP and Vale (VALE) for alleged negligence in relation to a dam that burst in Nov. and killed at least 17 people.

Gainers in Continental Europe were led by CGG (CGG), a manufacturer of geophysical equipment, 4.8% higher, followed by Advanced Accelorator Applications (AAAP), a radiopharmaceutical company, 4.5% higher and ASM International - New York Shares (ASMI), a supplier of wafer processing equipment, up by 2.4%.

And, in the UK, gold mining company Randgold Resources (GOLD) rose by 1.2% and Luxfer (LXFR), a materials technology company, was 0.8% higher.

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

RIO MT BHP NVS BBVA

Other Topics

Stocks