U.S.-traded shares of companies based in Europe edged up Thursday as the broader market turned positive.
The Bank of New York Europe ADR index, a portfolio of European stocks traded on U.S. exchanges gained 0.72 points to 174.49. ADRs, or American Depositary Receipts, are securities that allow U.S. investors to trade shares of companies based overseas.
Major U.S. indexes opened lower, but entered positive territory around midday.
ADRs of Russian mining and steel company Mechel OJSC gained $6.09, or 4.9 percent, to $130.71.
British gold miner Randgold Resources Ltd. added $1.96, or nearly 4 percent, to $51.46.
CNH Global NV, a farming equipment maker based in the Netherlands, advanced $1.81, or 3.5 percent, to $54.07.
Shares of German software maker SAP AG picked up $2.37, or 4.8 percent, to $51.70.
ADRs of CGGVeritas, a French oil and gas services company, slid $1.62, or 3.3 percent, to $48.26.
Shares of Swiss computer accessory maker Logitech International SA fell 79 cents, or 3 percent, to $25.79.
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