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European ADRs Advance as Shares in Spanish Energy Conglomerate Abengoa Surge 39 Per Cent

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American depository receipts of European stocks were 0.6% higher at 119.52 on the Bank of New York Mellon Europe ADR Index on Friday morning.

Gainers in Continental Europe were led by Abengoa ( ABGB ), a Spanish energy conglomerate, 38.7% higher, followed by CGG ( CGG ), a manufacturer of geophysical equipment, up by 8.2% and voxeljet ( VJET ), a German three-dimensional printer manufacturer, 7.6% higher. Abengoa's majority shareholder has agreed to cut its holding in the company to 5% from currently 51% in talks with creditors in a move to avoid bankruptcy for the renewable energy firm, Bloomberg reported,

In the UK, Amec Foster Wheeler ( AMFW ), a consultancy, engineering and project management company, was 10.9% higher, followed by commodities companies BHP Billiton ( BHP ) and Rio Tinto (RIO), up by 6.9% and 4.2%, respectively.

Decliners in Continental Europe were led by Natuzzi (NTZ), an Italian furniture manufacturer, down by 3.5%, followed by pharmaceutical companies Oasmia Pharmaceutical (OASM) and Ascendis Pharma (ASND), down by 3.3% and 2.8%, respectively.

And, in the UK, pharmaceutical companies Midatech Pharma (MTP) and Adaptimmune Therapeutics (ADAP) were down by 5.0% and 1.7%, respectively, followed by telecommunicatons company BT Group (BT), down by 1.4%.

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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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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