European ADRs Decline Amid Broad-Based Losses

Strategic Insights -

European ADRs experienced a significant decline, with the Bank of New York Mellon Europe ADR Index contracting by 0.63% to 140.90. The downturn was widespread, with various sectors contributing to the losses. National Bank of Greece led the decline in continental Europe, falling by 12.1%, while miners and oil companies dominated the decliners among the U.K. and Ireland-based ADRs.

Royal Dutch Shell (RDS.B) fell 1.2%, mining companies Rio Tinto (RIO) and BHP Billiton (BBL) dropped 2.1% each, and gold-producer Randgold Resources (GOLD) was lower 4.5%. Pharmaceutical companies, including AstraZeneca (AZN), Shire (SHPG), Sanofi (SNY), and Novo Nordisk (NVO), also weakened, with AstraZeneca down 1.6% and Novo Nordisk shedding 3.0%. On the other hand, oil company Statoil (STO) and pharmaceutical companies GlaxoSmithKline (GSK) and Novartis (NVS) bucked the trend, rising 1.7%, 0.6%, and 1.5%, respectively. Alcatel-Lucent (ALU) was the most active gainer, up 1.2%, following better-than-expected Q4 earnings.

Key Takeaways:

  • European ADRs declined by 0.63% to 140.90, with the Bank of New York Mellon Europe ADR Index showing broad-based losses.
  • National Bank of Greece led the decline in continental Europe, falling by 12.1%.
  • Miners and oil companies dominated the decliners among the U.K. and Ireland-based ADRs, with Rio Tinto and BHP Billiton dropping 2.1% each.
  • Pharmaceutical companies, including AstraZeneca and Novo Nordisk, weakened, with AstraZeneca down 1.6% and Novo Nordisk shedding 3.0%.
  • Alcatel-Lucent was the most active gainer, up 1.2%, following better-than-expected Q4 earnings.
  • Banks were a bright spot among U.K. and Ireland-based ADRs, with Barclays, HSBC, Royal Bank of Scotland, and Bank of Ireland rising 2.3%, 0.6%, 1.2%, and 1.6%, respectively.

Statistics:

  • European ADRs decline by 0.63% to 140.90.
  • National Bank of Greece falls by 12.1%.
  • Rio Tinto and BHP Billiton drop 2.1% each.
  • AstraZeneca down 1.6%.
  • Novo Nordisk sheds 3.0%.
  • Alcatel-Lucent up 1.2%.
  • Barclays rises 2.3%.
  • HSBC up 0.6%.
  • Royal Bank of Scotland adds 1.2%.
  • Bank of Ireland up 1.6%.

Sources:

  • "European ADRs as a group contracted 0.63% to 140.90 on Friday morning, according to data published by the Bank of New York Mellon Europe ADR Index." (MidnightTrader via COMTEX)
  • "As of Monday, 02-02-2015 23:59, the latest Comtex SmarTrend Alert indicated a DOWNTREND on 02-15-2012 for AZN @ $45.43." (Comtex News Network, Inc.)
  • "As of Monday, 02-02-2015 23:59, the latest Comtex SmarTrend Alert indicated an UPTREND on 06-07-2012 for BBL @ $56.81." (Comtex News Network, Inc.)
  • "As of Monday, 02-02-2015 23:59, the latest Comtex SmarTrend Alert indicated a DOWNTREND on 04-05-2012 for BCS @ $13.88." (Comtex News Network, Inc.)