Markets

European ADRs Edge Lower as Banks Head South

A list of stock prices rising and declining in value
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American depository receipts of European stocks were 0.4% lower at 124.57 on the Bank of New York Mellon Europe ADR Index on Friday morning.

Decliners in Continental Europe were led by Aegon - New York Shares ( AEG ), a Dutch insurance group, 4.8% lower after posting a 6% decline in its fourth quarter revenue from the corresponding quarter of the prior year, according to results published on Friday. The group's net income did, however, swing to EUR470 million ($501 million) compared with a net income loss of EUR580 million in the prior-year period.

Swedish telecommunications operator Telefonaktiebolaget LM Ericsson ( ERIC ) was down by 3.3% and STMicroelectronics - New York Shares ( STM ), an Italian semiconductor company, was 2.9% lower. Spanish financial group Banco Bilbao Vizcaya Argentaria ( BBVA ) was 2.5% lower.

In the UK, Barclays Bank ( BCS ) led the decliners, 2.1% lower, followed by miners BHP Billiton (BBL) and Rio Tinto (RIO), 2.1% and 2.0% lower, respectively, while Amec Foster Wheeler (AMFW), an engineering conglomerate, was down by 2.1%.

Gainers in Continental Europe were led by Unilever N.V - New York Shares (UN), a Dutch consumer goods company, 10% higher, followed by DBV Technologies (DBVT), a French clinical-stage biopharmaceutical company, up by 3.7% and voxelJet (VJET), a German three-dimensional printer manufacturer, 3.3% higher. Natuzzi (NTZ), an Italian furniture manufacturer, was up by 1.8%.

And, in the UK, AstraZeneca (AZN), a biopharmaceutical company, was 1.5% higher, gold mining major Randgold Resources (GOLD) was up by 1.1% and Luxfer (LXFR), a materials technology company, 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.

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

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