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European ADRs Edge Lower as Telecommunication Stocks Contract

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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.

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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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