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European ADRs Edge Lower Despite Mining Gains

American depository receipts of European stocks were trading 0.6% lower at 129.74 on the Bank of New York Mellon Europe ADR Index on Tuesday morning.

Decliners in Continental Europe were led by National Bank of Greece ( NBG ). 12.0% lower, followed by Dutch telecommunication services company VimpelCom - Com ( VIP ), down by 4.1%, and Italian semiconductor company STMicroelectronics - New York Shares ( STM ), 1.7% lower.

In the UK, low-cost airline Ryanair ( RYAAY ) was 3.6% lower, followed by cruise vacation company Carnival ( CUK ), down by 2.9% and Amarin (AMRN), a biopharmaceutical company, 2.5% lower.

Gainers in Continental Europe were led by oil and gas exploration and production company Statoil (STO), 2.2% higher, while Sequans Communications (SQNS), a French developer of chipset solutions, was up by 1.7%.

And, in the UK, gold mining business Randgold Resources (GOLD) rose by 2.1%, followed by Luxfer (LXFR), a materials technology company, 1.2% higher and BHP Billiton (BBL), a mining company, trading 0.9% higher.

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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