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European ADRs Slide 0.2 Per Cent in Morning Session as Banks Contract

American depository receipts of European stocks were trading 0.2% lower at 143.34 on the Bank of New York Mellon Europe ADR Index on Friday morning as high street banks slid.

Decliners in Continental Europe were led by Banco Bilbao Vizcaya Argentaria ( BBVA ), down 2.4%, followed by Banco Santander ( SAN ), 2.0% lower, and Spanish multinational Abengoa ( ABGB ), down 1.7%. Telefonaktiebolaget LM Ericsson ( ERIC ), an information and communications technology solutions provider, was also trading 0.8% lower.

In the UK, biopharmaceutical companies Shire ( SHPG ) and Amarin (AMRN) fell 2.4% and 1.7% respectively, while high street banks Barclays Bank (BCS) and Lloyds Banking Group (LYG) both fell 1.6%.

Gainers in Continental Europe were led by National Bank of Greece (NBG), up 2.4%, followed by Novo Nordisk (NVO), a healthcare company, 2.1% higher and Fresenius Medical Care-Com (FMS), a kidney dialysis company, trading 2.0% higher. Novartis (NVS), a healthcare solutions company, also gained 0.8%.

In the UK, Randgold Resource (GOLD), which is engaged in the exploration and development of gold deposits in Sub-Saharan Africa, rose 2.4% while cigarette maker British American Tobacco (BTI) gained 1.0% and pharmaceutical company GlaxoSmithKline (GSK) rose 0.6%. Hotel operator InterContinental Hotels (IHG) also expanded by 0.5%.

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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