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European ADRs Edge Lower as Brewing Stocks Contract


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American depository receipts of European stocks were 0.03% lower at 138.05 on the Bank of New York Mellon Europe ADR Index on Thursday morning.

Decliners in Continental Europe were led by Erytech Pharma ( ERYP ), down by 4.5%, CGG ( CGG ), a manufacturer of geophysical equipment, 2.2% lower and Novo Nordisk ( NVO ), a Danish healthcare company, down by 1.1%. AB InBev ( BUD ), a Belgian brewing company, was also down by 1.1%.

In the UK, British American Tobacco ( BTI ) was 1.9% lower, Midatech Pharma (MTP) was down by 1.8% and miner Rio Tinto (RIO) was 1.1% lower. Diageo (DEO), an alcoholic beverages company, was down by 1.0%.

Gainers in Continental Europe were led by Sequans Communications (SQNS), a French developer of chipset solutions, up by 4.1%, Trivago (TRVG), a technology company, also 4.1% higher and Forward Pharma (FWP) and Telecom Italia (TI), an Italian telecommunications company, both up by 2.5%.

And, in the UK, GW Pharmaceuticals (GWPH), a biopharmaceutical company, was 7.2% higher, Avadel (AVDL), a pharmaceutical company, was up by 4.1% and BT Group (BT), a communications services company, was up by 2.7%. Education company Pearson (PSO) was also 2.7% higher.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Stocks
Referenced Symbols: ERYP , CGG , NVO , BUD , BTI


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