Markets
RIO

Mining Companies Lead Gains in European ADRs After Chinese Factory Data Show Improvement

A generic image of two people across each other
Credit: Shutterstock photo

Mining companies led advancers among American depositary receipts of European companies Monday after Chinese factory data showed improvement.

China's National Bureau of Statistics said a measure of industrial output rose to 50.8 in May from 50.4 a month earlier.

The Bank of New York Mellon Europe ADR Index wavered between slight gains and losses alongside the S&P 500 Stock Index, which also traded flattish. European ADR decliners led advancers 56 to 45.

Mechel OAO ( MTL ), the Russian metals company, gained 1% to $1.95 per ADR following the Chinese data. Rio Tinto Plc ( RIO ), the U.K. miner, rose 1.6% to $52.20 per ADR.

Telecom Italia SPA ( TI ) rained 0.7% to $12.47 per ADR, continuing its advance since Goldman Sachs added the Italian phone company to its conviction buy list on Wednesday.

Abengoa SA ( ABGB ), the Spanish engineering and construction company, gained 1.5% after announcing plans to lists its Abengoa Yield unit in a $600 million initial public offering.

Alcatel-Lucent ( ALU ), the French maker of telecom equipment, fell 3.2% to $3.88 per ADR after offering EUR 1 billion ($1.4 billion) in bonds that can be exchange for stock. The company plans to use the proceeds from the sale to pay down older debt.

Europe's decliners also included Amarin Corp. (AMRN) -3.9% and Sequans Communications SA (SQNS) -3.3%.

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 MTL

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