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.

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

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