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European ADRs Up as Pharma Companies, Select Banks Gain

Pharmaceuticals companies saw significant gains, as did select banks, which helped to offset contractions among mining stocks traded as American depository shares Thursday.

The Bank of New York Mellon Europe ADR Index hit a two-week high, expanding 0.36% to 151.30.

AstraZeneca ( AZN ), a pharmaceutical and biologics company, rose 3.2%. National Bank of Greece ( NBG ) was up 2.9% in mid-morning action.

Telecommunications company Nokia ( NOK ) lifted 1.7% and French telecommunications equipment company Alcatel-Lucent ( ALU ) jumped 1.5%. CRH ( CRH ), the parent company of a group of building materials businesses, rose 1.3%.

Alcoholic beverages company Diageo (DEO) lifted 0.6% and Amarin (AMRN), a biopharmaceuticals company, also gained 0.55%.

European decliners were led by therapeutic ultrasound provider Edap (EDAP), which fell 2.29%. It was followed by insurance and pensions provider Aegon New York Shares (AEG), which contracted 2.05% and gold mining business Randgold Resources (GOLD), which slid 1.63%.

Telecommunications service provider Portugal Telecom (PT) dropped 1.60% and mining company Rio Tinto (RIO) edged down 1.01%.

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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