European Stocks Decline Amid Crude Oil Price Slump

Strategic Insights -

American depository receipts of European stocks were trading lower as the price of crude oil fell below the $54 a barrel mark, impacting oil and gas producing companies. The decline was led by Portuguese telecommunications company Portugal Telecom, down 3.6%, followed by National Bank of Greece, down 2.8%, and mobile telecommunications company VimpelCom-Com, which was trading 2.5% lower. On the other hand, pharmaceutical company Flamel Technologies was a major gainer, up 4.1%, while Aixtron, a provider of deposition equipment to the semiconductor and compound-semiconductor industry, gained 2.9%.

Key Takeaways:

  • The Bank of New York Mellon Europe ADR Index traded 0.59% lower at 139.13 on Tuesday morning, with decliners in Continental Europe leading the way.
  • Portugal Telecom (PT) was the largest decliner, down 3.6%, followed by National Bank of Greece (NBG), down 2.8%, and mobile telecommunications company VimpelCom-Com (VIP), which was trading 2.5% lower.
  • The price of crude oil fell below the $54 a barrel mark, significantly impacting oil and gas producing companies, such as Total (TOT) and Royal Dutch Shell -B and A-Shares (RDS.B and RDS.A).
  • Pharmaceutical company Flamel Technologies (FLML) was a major gainer, up 4.1%, while Aixtron (AIXG), a provider of deposition equipment to the semiconductor and compound-semiconductor industry, gained 2.9%.
  • Mining companies Randgold Resources (GOLD) and Rio Tinto (RIO) were 3.0% and 2.1% higher respectively in the UK.

Statistics:

  • The price of crude oil fell below $54 a barrel, significantly impacting oil and gas producing companies.
  • Pharmaceutical company Flamel Technologies (FLML) gained 4.1%, outperforming the broader market.
  • Aixtron (AIXG) gained 2.9%, supported by an uptrend since 01-19-2012 on AMRN.
  • The Bank of New York Mellon Europe ADR Index traded 0.59% lower at 139.13 on Tuesday morning.

Sources:

  • MidnightTrader.com - COMTEX
  • Comtex SmarTrend Alert (AIXG)
  • Comtex SmarTrend Alert (AMRN)
  • Comtex SmarTrend Alert (BCS)
  • Comtex SmarTrend Alert (for more information)
  • www.mysmartrend.com (SmarTrend trademark and copyright information)
  • Comtex News Network, Inc. - Copyright 2004-2014 (SmarTrend and Comtex SmarTrend Alert information)