European Stocks Decline Amid Debt Repayment Concerns

Strategic Insights -

February 11, 2015 marked a sluggish day in the European stock market, with American depository receipts (ADRs) of European stocks trading 0.8% lower at 141.52 on the Bank of New York Mellon Europe ADR Index. This decline was largely driven by concerns over debt repayment plans, particularly in Greece, where the newly elected government was scheduled to meet with European Union ministers to discuss an alternative plan. Meanwhile, oil companies such as Statoil and Total, as well as UK-based BP and Royal Dutch Shell, experienced losses.

Key Takeaways:

  • The Bank of New York Mellon Europe ADR Index declined by 0.8% on February 11, 2015, with national benchmarks such as the Stoxx Europe 600 index also falling.
  • Oil companies Statoil and Total lost 3.2% and 2.0% respectively, while UK-based BP and Royal Dutch Shell (RDS.A, RDS.B) declined by 2.9% and 2.7% respectively.
  • Low-cost airline Ryanair (RYAAY) and UK-based oil companies Royal Dutch Shell and BP were among the notable decliners, while fabless designer Sequans Communications (SQNS), Dutch financial institution ING Groep (ING), and voxeljet AG (VJET) recorded gains.
  • Specialty biopharmaceutical company Shire (SHPG) was trading 0.9% higher, while microprocessor designer ARM (ARMH) and communication services company BT Group (BT) recorded gains of 2.3% and 1.1% respectively.
  • The Comtex SmarTrend Alert system indicated an uptrend for Amarin (AMRN) and downtrends for BP and BT.

Statistics:

  • The Bank of New York Mellon Europe ADR Index declined by 0.8% on February 11, 2015.
  • Statoil lost 3.2% while Total fell 2.0%.
  • BP and Royal Dutch Shell (RDS.A, RDS.B) declined by 2.9% and 2.7% respectively.
  • Ryanair (RYAAY) fell 1.9% while Rio Tinto (RIO) declined by 1.6%.
  • Sequans Communications (SQNS) gained 5.9%, ING Groep (ING) rose 3.9%, and voxeljet AG (VJET) climbed 3.4%.
  • Amarin (AMRN) recorded a gain of 3.5%, ARM (ARMH) increased 2.3%, and BT Group (BT) rose 1.1%.
  • Shire (SHPG) was trading 0.9% higher.

Sources:

  • MidnightTrader via COMTEX, February 11, 2015
  • Comtex SmarTrend Alert system, as of February 7, 2015
  • Comtex News Network, Inc., 2004-2015.