Flamel Technologies SA ( FLML ) led declines in American depositary receipts of European companies as the region's markets declined following disappointing services industry data. Investors awaited decisions by the European Central Bank on interest rate cuts and other stimulus measures.
The Bank of New York Mellon Europe ADR Index fell 0.5%, compared with a 0.14% gain to a record high for the S&P 500 Stock Index. Decliners led advancers 59 to 46.
Flamel, a French drug maker, fell 5.4% to $10.90 per ADR, giving back some its 23% advance since a May 23 bottom.
Natuzzi SPA ( NTZ ), an Italian furniture maker, declined 5.4% to $2.46 per ADR to mark its third day of declines since reporting that quarterly sales had dropped from a year earlier.
Decliners included WPP Plc ( WPPGY ) -2.3%, National Grid ( NGG ) -1.9%, Bank of Ireland ( IRE ) -1.7% and Statoil ASA (STO) -1.6%.
Edap TMS SA (EDAP), a French provider of ultrasound therapy, rose 5.2% to mark its second day of gains since raising money to support a review with U.S. health authorities.
Credit Suisse (CS) gained 1.4% to $29.78 per ADR after being upgraded to a buy rating from neutral by analysts at Goldman Sachs.
Gainers included Vimpelcom Ltd. (VIP) +4.5%, Promotora de Informaciones SA (PRIS-B) +3.3%, Smith & Nephew Plc (SNN) +2.9% and Abengoa SA (ABGB) +2.6%.
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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.
