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European ADRs Extend Gains as Technology Stocks Rise

American depository receipts of European stocks were trading 0.8% higher at 126.36 on the Bank of New York Mellon Europe ADR Index on Wednesday morning.

Gainers in Continental Europe were led by Nokia ( NOK ), a technology investor, 1.7% higher, followed by Koninklijke Philips Electronics - New York Shares ( PHG ), a Dutch diversified technology company, and AB InBev ( BUD ), a Belgian brewing company, up by 1.6%.

In the UK, Pearson ( PSO ), an international education and media company, was 3.8% higher, followed by BHP Billiton ( BBL ), a mining company, up by 3.1% and Amec Foster Wheeler (AMFW), a British consultancy, engineering and project management company, trading 3.0% higher.

Decliners in Continental Europe were led by pharmaceutical companies Innocoll (INNL) and Biotie (BITI), 4.1% lower and 2.9%, respectively, and Sequans Communications (SQNS), a French developer of chipset solutions, down by 2.5%.

And, in the UK, ARM (ARMH), a microchip manufacturer, edged down by 3.2%, followed by pharmaceutical company GW Pharmaceuticals (GWPH), trading 2.3% lower and telecommunication company BT Group (BT), 0.3% lower.

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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