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European ADRs Decline, Led By Mining Companies

Depository receipts of European stocks slid slightly in the morning session on Tuesday, pulled down by a decline in mining companies, which was partially offset by gains in financial institutions. The Bank of New York Mellon Europe ADR Index was 0.09% lower at 150.93.

National Bank of Greece ( NBG ) lifted 2.51%, whilst telecommunications equipment company Alcatel-Lucent ( ALU ) gained 1.56%. Arcelor Mittal ( MT ), the integrated steel and mining company, rose 0.85% and pharmaceuticals company Novartis ( NVS ) jumped 0.67%. Telefonaktiebolaget LM Ericson ( ERIC ), the provider of communications, technology and services, rose 0.56%

In the UK, the gainers were led by Royal Bank of Scotland (RBS), which was up 1.10%. British American Tobacco (BTI) expanded 0.51% and GW Pharmaceuticals (GWPH) rose 0.50%.

Decliners in Continental Europe were led by French transnational company Veolia (VE), which was down 1.22%. It was followed by pharmaceuticals company Sanofi (SNY), down 0.77% and energy company Statoil (STO), which was 0.50% lower.

In the UK, mining, metals and petroleum company BHP Billiton (BBL) fell by 5.60%, followed by British-Australian metals and mining company Rio Tinto (RIO), which was down 1.35%. Pharmaceuticals company GlaxoSmithKline (GSK) was 0.91% lower and biopharmaceutical company Amarin (AMRN) was 0.54% 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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