European ADRs Move Down

American depository receipts of European stocks were 0.04% lower at 126.47 on the Bank of New York Mellon Europe ADR Index on Tuesday morning. Decliners in Continental Europe were led by Telecom Italia (TI), an Italian telecommunications company, 3.7% lower, followed by CGG (CGG), a manufacturer of geophysical equipment, down by 2.1% and Telecom Italia – Savings (TI.A), down by 2.0%.

In the UK, Akari Therapeutics (AKTX), a development-stage biopharmaceutical company, was 6.0% lower, followed by Trinity Biotech (TRIB), a manufacturer of medical diagnostic products, down by 4.3% and Barclays Bank (BCS), 2.4% lower and Royal Bank of Scotland (RBS), down by 2.3%.

Gainers in Continental Europe were led by Talend (TLND), a provider of open source integration solutions, up by 4.5%, followed by Novo Nordisk (NVO), a Danish healthcare company, 3.4% higher and VEON Com (VEON), a provider of communications services, up by 2.3%. Natuzzi (NTZ), an Italian furniture manufacturer, was 2.1% higher.

By Celina Yao