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Pharma Stocks' Rally Propels European ADRs Higher

American depository receipts of European stocks were 0.2% higher at 124.31 on the Bank of New York Mellon Europe ADR Index on Tuesday morning.

Gainers in Continental Europe were led by ArcelorMittal ( MT ), a Luxembourg steelmaker, 5.1% higher, followed by Sequans Communications ( SQNS ), a French developer of chipset solutions, up by 4.8% and voxeljet ( VJET ), a German three-dimensional printer manufacturer, trading 4.3% higher.

In the UK, pharmaceutical companies Midatech Pharma ( MTP ), GW Pharmaceuticals ( GWPH ) and Amarin (AMRN) were trading 5%, 4.2% and 2.7% higher, respectively.

Decliners in Continental Europe were led by Credit Suisse (CS), a Swiss financial services company, 3.2% lower, followed by VimpelCom - Com (VIP), a Dutch provider of telecommunications services, down by 2.1% and Materialise (MTLS), a Belgian provider of 3D Printing software, trading 1.2% lower.

And, in the UK, Aviva (AV), a provider of insurance, savings and fund management products, was down by 0.9%, followed by BT Group (BT), a British communications services company, trading 0.8% lower and oil and gas production major BP (BP), down by 0.7%.

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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