Markets
SAN

European ADRs Trade Lower Led By Network Infrastructure Companies, Banks

European ADRs as a group contracted 0.32% to 151.03 on Tuesday, according to data published by the Bank of New York Mellon Europe ADR Index.

Network infrastructure companies Nokia ( NOK ), Ericsson ( ERIC ) and Alcatel-Lucent ( ALU ) were the most active decliners among continental European ADRs, shedding 1.2%, 0.1% and 1.7% respectively.

Banks also traded lower ahead of the Federal Reserve's monetary policy meeting and tomorrow's interest rate and economic forecast announcements.

Banco Santander ( SAN ) slipped 0.6%, National Bank of Greece ( NBG ) was down 2.0%, UBS (UBS) shed 0.5% and Dutch ING Groep (ING) fell 0.9%.

U.K. banks were also weaker, with Barclays (BCS) being the most active, down 1.1% and Lloyds Banking Group (LYG) lower 0.8%.

Mining and metals companies were another big group of decliners, with Rio Tinto (RIO) down 0.7%, Randgold Resources (GOLD) off by 2.1% and BHP Billiton (BBL) down 0.5%.

Gainers included electrical engineering firm ABB (ABB), higher 0.5% and telecommunications operator Vimpelcom (VIP), up by 1.7% after saying it will sell its stake in wireless carrier Wind Canada. GW Pharmaceuticals (GWPH) added 1.8%.

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

SAN ERIC NOK

Other Topics

Commodities