European ADRs Move Lower

American depository receipts of European stocks were 0.48% lower at 126.07 on the Bank of New York Mellon Europe ADR Index on Thursday morning. Decliners in Continental Europe were led by Sequans Communciations (SQNS), a semiconductor solutions company, 2.2% lower, followed by Telecom Italia – Savings (TI.A), 1.7% lower and Banco Santander (SAN), also 1.7% lower. CGG (CGG), a manufacturer of geophysical equipment, was 1.6% lower. In the UK, Midatech Pharma (MTP), an early-stage biopharmaceutical company, was 4.1% lower, followed by Akari Therapeutics (AKTX), a development-stage biopharmaceutical company, down by 2.9% and high-street bank HSBC (HSBC), down by 1.4%. Royal Dutch Shell – B Shares (RDS.B), an oil and gas production company, was down by 1.3%.

Gainers in Continental Europe were led by voxelJet (VJET), a German three-dimensional printer manufacturer, up by 2.9%, followed by ArcelorMittal (MT), a Luxembourg steelmaker, 0.8% higher and Fresenius Medical Care (FMS), a German kidney dialysis company, also 0.8% higher. VEON Com (VEON), a provider of communications services, was 0.5% higher.

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