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European ADRs Climb as Telecommunications Stocks Edge Higher

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American depository receipts of European stocks were 0.3% higher at 120.85 on the Bank of New York Mellon Europe ADR Index on Thursday morning.

Gainers in Continental Europe were led by Telefonica ( TEF ), a Spanish telecommunications group, 2.9% higher, followed by Sequans Communications ( SQNS ), a French developer of chipset solutions, up by 2.4% and VimpelCom - Com ( VIP ), a Dutch provider of telecommunications services, 2.2% higher.

In the UK, Midatech Pharma ( MTP ), an early-stage biopharmaceutical company, was 1.9% higher, followed by Amec Foster Wheeler ( AMFW ), an engineering conglomerate, up by 1.8% and telecommunications company BT Group (BT), up by 1.4%.

Decliners in Continental Europe were led by Aegon - New York Shares (AEG), a Dutch life insurance, pensions and asset management company,11.4% lower, followed by CGG (CGG), a manufacturer of geophysical equipment, down by 4.9% and Advanced Accelerator Applications (AAAP), a radiopharmaceutical company, 3.8% lower.

And, in the UK, metal miners BHP Billiton (BBL) and Rio Tinto (RIO) were 1.9% and 1.8% lower, respectively, while ARM (ARM), a microchip manufacturer, was down by 1.6%.

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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