European ADRs Rise Amid Oil Price Increase, ECB Measures

European ADRs as a group rose 0.58% to 140.96 on Thursday morning, according to data published by the Bank of New York Mellon Europe ADR Index. Despite the European Central Bank's unexpected move to stop accepting Greek bonds, U.S.-listed American Depository Receipts were boosted by oil companies as West Texas Intermediate and Brent Crude futures traded up 3.1% and 3.2%, respectively. BP, Royal Dutch Shell, Statoil, and Total were among the notable gainers, while National Bank of Greece, Banco Santander, and ING Groep experienced losses.

Key Takeaways:

• European ADRs as a group rose 0.58% to 140.96 on Thursday morning, with oil companies driving the gains.
• BP, Royal Dutch Shell, Statoil, and Total were among the top gainers, with increases of 2.1%, 1.5%, 2.6%, and 1.2%, respectively.
• Banks also experienced gains, with Lloyds Banking Group, Barclays Bank, Credit Suisse, and Banco Bilbao Vizcaya Argentaria increasing by 1.9%, 0.8%, 0.4%, and 0.4%, respectively.
• National Bank of Greece, Banco Santander, and ING Groep were among the top losers, declining by 4.9%, 0.6%, and 0.1%, respectively.
• Nokia was the most active gainer in continental Europe, increasing by 1.0%, while ABB and GlaxoSmithKline also experienced gains, rising by 2.1% and 1.5%, respectively.
• Vodafone Group and AstraZeneca reported losses, decreasing by 1.7% and 2.1%, respectively.

Statistics:

• Oil prices: West Texas Intermediate futures traded up 3.1%, while Brent Crude futures increased by 3.2%.
• European ADR Index: Rose 0.58% to 140.96.
• Notable gainers: BP (2.1%), Royal Dutch Shell (1.5%), Statoil (2.6%), and Total (1.2%).
• Notable losers: National Bank of Greece (4.9%), Banco Santander (0.6%), and ING Groep (0.1%).
• Nokia: Increased by 1.0% as the most active gainer in continental Europe.

Sources:

• Bank of New York Mellon Europe ADR Index
• Comtex SmarTrend Alert (ABB, BBVA, BCS)
• MidnightTrader.com
• Comtex News Network, Inc.