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European ADRs Edge Higher as Semiconductor, Pharma Stocks See Mixed Fortunes

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American depository receipts of European stocks were 1.2% higher at 121.25 on the Bank of New York Mellon Europe ADR Index on Wednesday morning.

Gainers in Continental Europe were led by pharmaceutical company Oasmia Pharmaceuticals ( OASM ), 8.3% higher, followed by ASM International - New York Shares (ASMI), a supplier of wafer processing equipment used for semiconductor manufacturing, up by 5.2% and Aixtron ( AIXG ), which also provides equipment to the semiconductor industry, up by 4.6%. Oasmia Pharmaceutical AB ( OASM ) has begun enrollment in the Phase I clinical study of its next-generation cancer treatment candidate Docecal.

In the UK, metal miner Rio Tinto ( RIO ) was 4.2% higher, followed by pharmaceutical company Amarin ( AMRN ), up by 4.0% and cruise vacation company Carnival (CUK, CCL), 3.9% higher. Carnival Corp. reported better-than-expected Q1 results, issued in line guidance on Q2 EPS and raised the low end of its guidance range on FY16 earnings.

Decliners in Continental Europe wete led by semiconductor company STMicroelectronics - New York Shares ( STM ), down by 0.2% and telecommunication company Telecom Italia - Savings (TIA), down by 0.1%.

And, in the UK, pharmaceutical company GW Pharmaceuticals (GWPH) and gold miner Randgold Resources (GOLD) were both down by 2.7% while Adaptimmune Therapeutics (ADAP), a pharmaceutical company, edged 2.5% 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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