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European ADRs Edge Lower as Oil Producers Head South

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American depository receipts of European stocks were 0.2% lower at 123.98 on the Bank of New York Mellon Europe ADR Index on Wednesday morning.

Decliners in Continental Europe were led by Marine Harvest ( MHG ), a Norwegian seafood company, 5.0% lower, followed by CGG ( CGG ), a manufacturer of geophysical equipment, down by 2.7% and Materialise ( MTLS ), a Belgian provider of 3D printing software and services, 2.3% lower. Oil and gas production company Eni ( E ) was 1.8% lower.

In the UK, oil and gas production companies BP and the A and B Shares of Royal Dutch Shell (RDS.A and RDS.B) were 2.4%, 2.6% and 2.4% lower, respectively.

Gainers in Continental Europe were led by Spanish financial group Banco Bilbao Vizcaya Argentaria ( BBVA ), 2.4% higher, followed by voxeljet (VJET), a German three-dimensional printer manufacturer, up by 1.9% and Credit Suisse (CS), a Swiss financial services company, up by 1.5%. Ascendis Pharma (ASND), a Danish clinical stage biopharmaceutical company, was 0.9% higher.

And, in the UK, Royal Bank of Scotland (RBS), Barclays Bank (BCS), Lloyds Banking Group (LYG) and HSBC (HSBC), were 1.5%, 1.4%, 0.9% and 0.7% higher, respectively.

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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