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European ADRs Edge Lower as Banks Contract

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American depository receipts of European stocks were 0.2% lower at 123.09 on the Bank of New York Mellon Europe ADR Index on Friday morning.

Decliners in Continental Europe were led by Italian telecommunication company Telecom Italia ( TI ) and Telecom Italia - Savings (TI.A), 3.0% and 2.9% lower, respectively, while Banco Santander ( SAN ) and Dutch financial services company ING Groep ( ING ) were 2.4% and 2.1% lower, respectively.

In the UK, Royal Bank of Scotland ( RBS ) and Lloyds Banking Group ( LYG ) were 1.9% and 1.5% lower, respectively, while Smith & Nephew (SNN), a medical devices business, and low-cost airline Ryanair (RYAAY) were 1.7% and 1.3% lower, respectively.

Gainers in the Continental Europe were led by Trivago (TRVG), which operates an online hotel search platform, up by 8%, followed by ArcelorMittal (MT), a Luxembourg steelmaker, up by 5.0% and Talend (TLND), a provider of open source integration solutions, 4.8% higher. Edap (EDAP), a French medical devices developer, was 3.6% higher.

And, in the UK, Amec Foster Wheeler (AMFW), a global engineering conglomerate, was 3.6% higher, followed by miners Rio Tinto (RIO) and BHP Billiton (BBL), 2.7% and 1.5% higher, respectively, while CRH (CRH), a building materials company, was up by 1.2%.

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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