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Sept. 23, 2004, 5:22 p.m. EDT

Oil, techs weigh on European ADRs

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By Christopher Noble, CBS MarketWatch.com

SAN FRANCISCO (CBS.MW) -- U.S.-listed shares of European companies fell Thursday, as a warning from household appliance maker AB Electrolux and higher oil prices triggered weakness in oil sensitive stocks and some technology shares.

The Bank of New York European ADR Index fell 0.39 points to close at 109.95.

Automakers and airlines were mostly weaker as a new spike in oil prices sank in. The rise in crude oil futures to $49 a barrel weighed on stocks more generally, even hitting some energy shares, which weakened on investor concern about supplies.

Daimler Chrysler dropped 0.9 percent and Fiat SpA fell 0.7 percent. Air France fell 0.7 percent and Ryanair Holdings /zigman2/quotes/208049948/composite RYAOF 0.00% dropped 0.2 percent, but British Airways /zigman2/quotes/210123207/composite BAB +0.07% edged 0.1 percent higher.

Energy companies Shell Transport and Trading , Royal Dutch/Shell , BG Group and BP Plc /zigman2/quotes/207305210/composite BP -3.40% were the biggest decliners. Stolt Offshore , Technip and Smedvig A.S. gained.

Home furnishing stocks fell after AB Electrolux warned that higher steel prices would hurt its profit. Electrolux fell 7.6 percent and Waterford Wedgwood fell 3.4 percent.

Enodis Plc. /zigman2/quotes/200321864/composite ENO +0.13% climbed 2.2 percent and Natuzzi SpA /zigman2/quotes/206283720/composite NTZ -1.31% rose 2.2 percent.

Software and communications technology shares weakened while telecommunications shares were higher.

/zigman2/quotes/208049948/composite
US : U.S.: OTC
$ 13.00
0.00 0.00%
Volume: 0.00
Oct. 13, 2022 9:30a
P/E Ratio
10.73
Dividend Yield
N/A
Market Cap
$11.72 billion
Rev. per Employee
$548,656
loading...
/zigman2/quotes/210123207/composite
US : U.S.: NYSE Arca
$ 27.23
+0.02 +0.07%
Volume: 201,508
Feb. 2, 2023 4:10p
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 35.20
-1.24 -3.40%
Volume: 16.78M
Feb. 2, 2023 4:00p
P/E Ratio
N/A
Dividend Yield
3.85%
Market Cap
$109.29 billion
Rev. per Employee
$3.38M
loading...
/zigman2/quotes/200321864/composite
US : U.S.: NYSE
$ 24.29
+0.03 +0.13%
Volume: 5,454
Feb. 2, 2023 4:10p
P/E Ratio
N/A
Dividend Yield
5.66%
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/206283720/composite
US : U.S.: NYSE
$ 6.80
-0.09 -1.31%
Volume: 3,009
Feb. 2, 2023 4:10p
P/E Ratio
10.35
Dividend Yield
N/A
Market Cap
$75.59 million
Rev. per Employee
$118,927
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Christopher Noble is a reporter for CBS MarketWatch in San Francisco.

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