Markets

European ADRs Hit Two -Week High Buoyed by Greek Banking Gain

American depository receipts of European stocks were trading 1.9% higher at 142.54 on the Bank of New York Mellon Europe ADR Index on Friday.

Gainers in Continental European were led by National Bank of Greece ( NBG ), up 10.8% following news that the Greek government has agreed to provide a reform plan to European Union ministers in the coming days.

Spanish bank Banco Santander ( SAN ) was also 4.4% higher while Dutch mobile telecommunications business VimpelCom-Com ( VIP ) was up 4.4%. Swiss financial institution Credit Suisse ( CS ) was also trading 3.5% higher.

In the UK, gold mining company Randgold Resources ( GOLD ) gained 3.3% while biopharmaceutical company Amarin (AMRN) rose 2.8% and mining company Rio Tinto (RIO) expanded by 2.4%.

Royal Dutch Shell - B Shares (RDS.B) also gained 2.1% after the oil and gas company announced that its Nigerian subsidiary, Shell Petroleum Development Co. of Nigeria, completed the sale of its 30% interest in oil-mining lease 18 and related facilities in the Eastern Niger Delta for $737 million in total cash proceeds.

In Continental Europe, decliners were led by performance- based online display advertising company Criteo (CRTO), down 0.6% while biopharmaceutical company Forward Pharma (FWP) fell 0.5% and Alcatel-Lucent (ALU), a provider of voice, data, and video services, contracted by 0.3%.

Ascendis Pharma (ASND), a clinical-stage biopharmaceutical company, was also trading 0.2% lower.

In the UK, Fly Leasing (FLY), a lessor of commercial jet aircraft, fell 1.4% while high street bank Royal Bank of Scotland - Pref L (RBS PR L) slid 0.3%.

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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