European ADRs Shift Higher

American depository receipts of European stocks were 0.7% higher at 127.96 on the Bank of New York Mellon Europe ADR Index on Tuesday morning. Gainers in Continental Europe were led by Edap (EDAP), a French medical devices developer, up by 6.1%, followed by Banco Santander (SAN), a Spanish banking company, 2.8% higher, followed by ING Groep (ING), a Dutch financial services company, up by 2.6% and Banco Bilbao Vizcaya Argentaria (BBVA), a Spanish financial group, 2.5% higher.

In the UK, Barclays Bank (BCS) and Royal Bank of Scotland (RBS) were 2.9% and 1.9% higher, respectively, while Amec Foster Wheeler (AMFW), a global engineering conglomerate, was up by 1.9% and Midatech Pharma, an early-stage biopharmaceutical company, was 1.8% higher.

Decliners in Continental Europe were Deutsche Bank – Global Registered Shares (DB), 4.9% lower, followed by kidney dialysis company Fresenius Medical Care – Com (FMS), 2.9% lower. Forward Pharma (FWP), a Danish biopharmaceutical company, was 1.7% lower and TiGenix (TIG), a Belgium-based biopharmaceutical company, was 1.3% lower.

And, in the UK, pharmaceutical companies Adaptimmune Therapeutics (ADAP), Akari Therapeutics (AKTX) and Amarin (AMRN) were 3.5%, 2.6% and 1.2% lower, respectively. Rio Tinto (RIO), a mining company, was 1.6% lower.

By Celina Yao