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European ADRs Trade at Two Year Low as Miners Contract

American depository receipts of European stocks were trading 1.4% lower at 124.49 on the Bank of New York Mellon Europe ADR Index on Monday morning. This represents a two-year low.

Decliners in Continental Europe were led by steel and mining company ArcelorMittal ( MT ), 7.0% lower, followed by National Bank of Greece ( NBG ), down by 6.6% and oil and gas production company Total ( TOT ), 3.2% lower.

In the UK, pharmaceutical company Amarin ( AMRN ) slid by 5.9% while diversified mining company BHP Billiton ( BBL ) slid by 5.7% and metal miner Rio Tinto (RIO) contracted by 4.5%.

Gainers in Continental Europe were led by Italian furniture designer Natuzzi (NTZ), 5.1% higher, followed by Edap (EDAP), a medical device designer, up by 3.9%, and three-dimensional printer manufacturer Voxeljet AG (VJET), 2.5% higher.

And, in the UK, electricity and gas utility company National Grid (NGG) and pharmaceutical company Adaptimmune Therapeutics (ADAP) both edged up by 1.0% while materials technology company Luxfer (LXFR) rose by 0.4%.

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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