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European ADRs Rally as Technology Stocks Jump

American depository receipts of European stocks were trading 1.8% higher at 125.62 on the Bank of New York Mellon Europe ADR Index.

Gainers in Continental Europe were led by Alcatel-Lucent ( ALU ), a provider of cloud networking and ultra-broadband access, 3.7% higher, followed by technology investment company Nokia ( NOK ), 3.5% higher and telecommunication company Telefonaktiebolaget LM Ericcson ( ERIC ), 3.4% higher.

In the UK, health care company Shire ( SHPG ) advanced by 3.4% while metal mining company Rio Tinto ( RIO ) edged up by 2.5% and financial services group Lloyds Banking Group (LYG) expanded by 2.2%. Rio Tinto says it agreed to sell its 40% stake in the Bengalla coal venture in Australia to New Hope Corp. for $606 million.

Decliners in Continental Europe were led by National Bank of Greece (NBG). 5.8% lower, followed by CGG (CGG), a manufacturer of geophysical equipment, 3.8% lower and Nabriva Therapeutics (NBRV), an Austria-based clinical-stage biopharmaceutical company, 3.8% lower.

There were no decliners in the UK at the time of publication.

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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