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European ADRs Edge Lower as Pharma Stocks See Mixed Fortunes

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American depository receipts of European stocks were 0.8% lower at 114.34 on the Bank of New York Mellon Europe ADR Index on Friday morning.

Decliners in Continental Europe were led by CGG ( CGG ), a manufacturer of geophysical equipment, 5.9% lower, followed by Aixtron ( AIXG ), a German provider of deposition equipment to the semiconductor industry, down by 4.0% and Advanced Accelerator Applications ( AAAP ), a radiopharmaceutical company, 3.8% lower. Banco Bilbao Vizcaya Argentaria ( BBVA ), a Spanish financial group, was down by 2.5%.

In the UK, GW Pharmaceuticals ( GWPH ), a biopharmaceutical company, was 4.4% lower, followed by Midatech Pharma (MTP), an early-stage biopharmaceutical company, down by 3.4% and BT Group (BT), a communications services company, down by 2.7%. Gold miner Randgold Resources (GOLD), was 2.4% lower.

Gainers in Continental Europe were led by Forward Pharma (FWP), a Danish biopharmaceutical company, 5.3% higher, followed by Nabriva Therapeutics (NBRV), an Austria-based clinical-stage biopharmaceutical company, up by 5.0% and STMicroelectronics (STM), an Italian semiconductor company, 1.6% higher. ASML - New York Shares (ASML), a Dutch developer of semiconductor equipment systems, was up by 0.9%.

And, in the UK, Adaptimmune Therapeutics (ADAP), a clinical-stage biopharmaceutical company, was 2.1% higher, followed by WPP (WPPGY), a provider of advertising and marketing services, up by 0.6% and InterContinental Hotels (IHG), a British hotel chain, 0.6% higher. British American Tobacco (BTI), was up by 0.5%.

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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