Markets

European ADRs Slide Lower Despite Gains for Oil and Gas Companies

American depository receipts of European stocks were trading 0.5% lower at 123.71 on the Bank of New York Mellon Europe ADR Index on Tuesday morning.

Decliners in Continental Europe were led by medical device designer Edap ( EDAP ), 4.5% lower, followed by clinical-stage biopharmaceutical company Nabriva Therapeutics ( NBRV ), 3.6% lower and National Bank of Greece ( NBG ), down by 3.5%.

In the UK, building materials company CRH ( CRH ) slid by 1.8% while financial services company Aviva ( AV ) edged 1.4% lower and Barclays Bank (BCS) fell by 1.2%.

Gainers in Continental Europe were led by semiconductor company STMicroelectronics - New York Shares (STM), 3.6% higher, followed by Banco Bilbao Vizcaya Argentaria (BBVA), up by 2.9% and oil and gas production company Statoil (STO) 2.8% higher.

In the UK, oil and gas production major Royal Dutch Shell A and B Shares (RDS.A and RDS.B) were both 2.4% higher while pharmaceutical company Amarin (AMRN) expanded by 1.5%.

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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