National Bank of Greece ( NBG ) on Thursday led gains among American depositary receipts of European companies after being upgraded. Also supportive, European markets showed broad gains after the European Central Bank cut certain interest rates to a negative level for the first time and announced further stimulus measures.
Bank of New York Mellon's Europe ADR Index rose 0.4%, compared with a 0.3% gain for the S&P 500 Stock Index. Advancers led decliners 65 to 38.
National Bank of Greece climbed 4.7% to $3.79 per American depositary receipt after an upgrade to a buy rating from hold by analysts at Deutsche Bank.
Fly Leasing Ltd. ( FLY ) rose 2.9% to $14.19 per ADR after announcing the purchase of four Boeing 737-800 aircraft that are leased to four European airlines.
European ADR Gainers included Orange ( ORAN ) +3.5%, Prisa (PRIS-B) +3.2% and Abengao SA ( ABGB ) +2.7%.
Smith & Nephew Plc ( SNN ) led decliners with a 5.5% slide to $91.88 per ADR. It reached a record high Wednesday after an unconfirmed press report said Medtronic Inc. (MDT) was evaluating a takeover bid on the company.
Decliners included Arm Holdings Plc (ARMH) -2%, Mechel OAO (MTL) -2.1% and Aixtron SE (AIXG).
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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.
