Markets
RIO

European ADRs Head South as Commodities Stocks Slide

American depository receipts of European stocks were trading 1.2% lower at 125.40 on the Bank of New York Mellon Europe ADR Index on Friday morning.

Decliners in Continental Europe were led by Luxembourg steelmaker ArcelorMittal ( MT ), 3.8% lower, followed by Syngenta ( SYT ), a Swiss agribusiness operating in the crop and garden markets, down by 2.9%, and VimpelCom - Com ( VIP ), a Dutch provider of telecommunications services, 2.5% lower.

In the UK, mining stocks BHP Billiton ( BBL ) and Rio Tinto ( RIO ) were 4.4% and 3.1% lower, respectively, while Barclays Bank (BCS) was down by 2.6%.

Gainers in Continental Europe were led by Sequans Communications (SQNS), a French developer of chipset solutions, 1.1% higher, followed by Ascendis Pharma (ASND), a Danish clinical stage biopharmaceutical company, up by 0.9%, and Aixtron (AIXG), a German provider of deposition equipment to the semiconductor and compound-semiconductor industry, trading 0.5% higher.

And, in the UK, National Grid (NGG), an electricity and gas utility company gained 0.6% while Randgold Resources (GOLD), a gold mining company, was 0.1% 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 BBL

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