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European ADRs Advance as Telecommunication Stocks' Gains Offset Mining Losses

American depository receipts of European stocks were trading 0.9% higher at 131.05 on the Bank of New York Mellon Europe ADR Index on Tuesday morning.

Gainers in Continental Europe were led by VimpelCom - Com ( VIP ), a Dutch provider of telecommunications services, 3.9% higher, followed by Telefonica ( TEF ), a Spanish telecommunications group, 2.3% higher and Belgian brewer AB InBev ( BUD ), up by 2.2%.

In the UK, pharmaceutical companies Shire ( SHPG ) and AstraZeneca ( AZN ) advanced by 3.1% and 2.3% while education and media company Pearson (PSO) gained 2.1%.

Decliners in Continental Europe were led by National Bank of Greece (NBG), 9.8% lower, followed by Sequans Communications (SQNS), a French developer of chipset solutions, down by 6.9% and CGG (CGG), a manufacturer of geophysical equipment, trading 2.6% lower.

And, in the UK, gold producer Randgold Resources (GOLD) was 1.9% lower, followed by aircraft leasing company Fly Leasing (FLY), down by 1.8% and mining company Rio Tinto (RIO), 1.5% lower.

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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