European ADRs Leading The Surge For U.S. Equities (ALU, MT, BHP, DB, FTE, PHG, NOK, NBG, SI, TI, UBS)
Friday’s bounce in the U.S. is continuing based on the fact that there was no significant negative news or negative developments over the weekend. On the day we were down last week it was many of the key ADRs leading the U.S. lower. Today most of those ADRs are leading the charge higher.
We have shown the New York trading indications as well as the trading indication on the local markets for these to adjust for off-clock similar trading the prior day and for currencies.
Alcatel-Lucent (NYSE: ALU) is indicated up 3% at $3.00 but no real ADR volume yet; shares are up 3.2% in local markets.
Arcelor Mittal (NYSE: MT) +4% at $15.96.
BHP Billiton Ltd. (NYSE: BHP) +1.4% at $68.68. Shares up 0.6% in U.K. (although Australia based).
Deutsche Bank AG (NYSE: DB) +8.6% at $34.03; shares are up down 9.6% in local markets.
France Telecom (NYSE: FTE) up 27% at $16.11; shares up 3.5% in local markets.
Koninklijke Philips Electronics NV (NYSE: PHG) shares are indicated up 4% but no volume yet.
Nokia Corporation (NYSE: NOK) up 4.5% at $5.48.
National Bank of Greece SA (NYSE: NBG) is actually down 1% at $0.79, a sign that the det rating downgrade on Friday might not have been as one-off as everyone hoped.
Siemens AG (NYSE: SI) up 3.6% at $91.39. Shares are up 3% in local trading.
Telecom Italia SpA (NYSE: TI) shares are indicated up 2% at $10.52 but no volume; shares are up 3% in local markets.
UBS AG (NYSE: UBS) is up 3.5% at $11.64; shares are up 4% in local markets.
JON C. OGG