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European ADRs Fractionally Lower as Pharmaceutical Stocks See Mixed Fortunes


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American depositary receipts of European stocks were 0.01% lower at 138.26 on the Bank of New York Mellon Europe ADR Index on Wednesday morning.

Decliners in Continental Europe were led by ERYTECH Pharma ( ERYP ), 3.8% lower, followed by STMicroelectronics - New York Shares ( STM ), an Italian semiconductor company, down by 3.5% and Materialise ( MTLS ), a Belgian provider of 3D printing software and services, 2.7% lower. Argenx ( ARGX ), a pharmaceutical company, was down by 2.6%.

In the UK, pharmaceutical stocks were among the biggest decliners with GW Pharmaceuticals ( GWPH ) 6.2% lower, Midatech Pharma (MTP) down by 4.3%, Avadel (AVDL), a pharmaceutical company, 3.3% lower and CRH (CRH), a building materials company, down by 1.2%.

Gainers in Continental Europe were led by Novo Nordisk (NVO), a Danish healthcare company, 3.3% higher, followed by telecommunications companies Telecom Italia (TI) and Telecom Italia - Savings (TI.A), 2.9% and 2.0% higher, respectively, while ABB (ABB), a Swiss company engaged in power and automation technologies, was up by 0.8%.

And, in the UK, British American Tobacco (BTI) was 3.3% higher, Akari Therapeutics (AKTX) was up by 2.8%, Diageo (DEO), an alcoholic beverages company, was 1.0% higher and Amarin (AMRN), a biopharmaceutical company, was also 1.0% 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 , STM , MTLS , ARGX , GWPH


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