European ADRs Slide as Lenders, Natural Resource Majors Slump

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American depositary receipts of European stocks were down 0.96% to 133.05 on the Bank of New York Mellon Europe ADR Index Tuesday.

In continental Europe, geoscience firm CGG ( CGG ) led decliners, slumping 5.7%, followed by biopharmaceutical firm Ascendis Pharma ( ASND ), down 5.3%. Norwegian oil major Statoit ( STO ) followed with a 3.4% drop. Lenders Banco Santander ( SAN ), ING Group ( ING ) and Credit Suisse (CS) were off 2.0%, 1.7% and 0.8%, respectively.

In the U.K., natural resource giant BHP Billiton (BHP) led the decline, falling 3.9%. Peer Rio Tinto (RIO) and British oil giant BP (BP) followed, both falling 3.3%. B shares of Anglo-Dutch oil major Royal Dutch Shell (RDS.B) were down 2.7%. U.K. lender Llloyds Banking (LYG) was down 2.5%.

Gainers in continental Europe were led by drug maker Oasmia Pharmaceutical (OASM), up 4%. Biopharmaceutical firms TiGenix (TIG) and DBV Technologies (DBVT) followed, gaining 2.1% and 1.2%, respectively.

In the U.K., gainers were led by biopharmaceutical firm GW Pharmaceuticals (GWPH), up 3.5%. Peers Amarin (AMRN) and Akari Therapeutics (AKTX) followed, rising 2.3% and 1.8%, respectively.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Stocks
Referenced Symbols: CGG , ASND , STO , SAN , ING

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