Markets

European ADRs Head South as Retail Trade Slides Across Euro Area

American depository receipts of European stocks were trading 0.2% lower at 130.23 on the Bank of New York Mellon Europe ADR Index on Thursday morning after retail trade in the euro area contracted and the European Central Bank (ECB) extended the deadline for its quantitative easing program.

Retail trade fell by 0.1% in October compared to September, according to data released by Eurostat, the statistics office of the European Union, and the ECB extended its government bond-buying program until March 2017 from an original deadline of September 2016.

Decliners in Continental Europe were led by Abengoa ( ABGB ), a Spanish energy conglomerate, 18.2% lower, followed by Edap ( EDAP ), a French medical devices developer, down by 4.0% and personal car products provider Unilever ( UN ), trading 2.2% lower.

In the UK, GW Pharmaceuticals ( GWPH ) was down by 2.6% and mining major BHP Billiton ( BHP ).

Gainers in Continental Europe were led by DBV Technologies (DBVT), a French clinical-stage biopharmaceutical company, 4.0% higher, followed by Logitech (LOGI), a Swiss hardware and software products developer, up by 3.3% and Telefonaktiebolaget LM Ericsson (ERIC), a provider of communications technology and services, trading 1.8% higher.

And, in the UK, pharmaceutical company Adaptimmune Therapeutics (ADAP) was 5.7% higher, followed by engineering conglomerate Amec Foster Wheeler (AMFW), up by 1.8% and low-cost airline Ryanair (RYAAY), 1.5% higher.

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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