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European ADRs Edge Higher as Consumer Stocks Advance

American depository receipts of European stocks were 1.2% higher at 115.81 on the Bank of New York Mellon Europe ADR Index on Monday morning.

Gainers in Continental Europe were led by Flamel Technologies ( FLML ), a French pharmaceutical company, 8.0% higher, followed by Natuzzi ( NTZ ), an Italian furniture manufacturer, up by 4.4% and ArcelorMittal ( MT ), a Luxembourg steelmaker, up by 4.1%.

In the UK, low-cost airline operator Ryanair ( RYAAY ) was 5.4% higher after approving its eighth share buyback, posting gains in its second quarter earnings and revenue and ramping up its forecast for annual passenger volumes through 2024. High street bank HSBC ( HSBC ) and Amarin (AMRN), a biopharmaceutical company, were both 4.3% higher.

Decliners in Continental Europe were led by Edap (EDAP), a French medical devices developer, and Cellectis (CLLS), a French genome engineering company, both 2.2% lower, followed by Nabriva Therapeutics (NBRV), an Austria-based clinical-stage biopharmaceutical company, down by 2.1%.

And, in the UK, gold mining major Randgold Resources (GOLD) was 1.9% lower, followed by National Grid (NGG), an electricity and gas utility company, 0.8% 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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