European ADRs Edge Lower as Telecommunication Stocks Contract
American depository receipts of European stocks were trading 0.3% lower at 119.46 on the Bank of New York Mellon Europe ADR Index on Monday morning.
Decliners in Continental Europe were led by Telecom Italia ( TI ), an Italian company engaged in the communications sector, 4.0% lower, followed by Aixtron ( AIXG ), a German provider of deposition equipment, down by 3.6% and voxeljet ( VJET ), a German three-dimensional printer manufacturer, 2.4% lower.
In the UK, InterContinental Hotels ( IHG ), a hotel chain, was 2.0% lower, followed by telecommunication company Vodafone Group ( VOD ), down by 1.7% and low-cost airline Ryanair (RYAAY), trading 1.6% lower.
Gainers in Continental Europe were led by Abengoa (ABGB), a Spanish energy conglomerate, 32.1% higher, followed by DBV Technologies (DBVT), a clinical-stage biopharmaceutical company, up by 8.3% and Edap (EDAP), a medical devices developer, 6.3% higher.
And, in the UK, pharmaceutical company Adaptimmune Therapeutics (ADAP) was 9.2% higher, followed by miners Rio Tinto (RIO) and BHP Billiton (BHP), 6.1% and 5.3% 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.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.