European ADRs Edge Lower

American depository receipts of European stocks were 0.3% lower at 122.39 on the Bank of New York Mellon Europe ADR Index on Wednesday morning.

Decliners in Continental Europe were led by Nabriva Therapeutics (NBRV), an Austria-based clinical-stage biopharmaceutical company, 3.8% lower, followed by Banco Bilbao Vizcaya Argentaria (BBVA), down by 2.6% and Luxxottica (LUX), a manufacturer of eyewear, 2.2% lower. Telecom Italia – Savings (TI.A), a telecommunications company, was down by 2.1%.

In the UK, Akari Therapeutics (AKTX), a development-stage biopharmaceutical company, was 6.3% lower, followed by gold miner Randgold Resources (GOLD), down by 1.5% and drinks-maker Diageo (DEO), 0.8% lower. Royal Dutch Shell – A Shares (RDS.A), an oil and gas production company, was also 0.8% lower.

Gainers in Continental Europe were led by semiconductor manufacturer STMicroelectronics – New York Shares (STM), up by 2.3%, followed by ArcelorMittal (MT), a Luxembourg steelmaker, also 2.3% higher and financial services provider Aegon – New York Shares (AEG), 1.6% higher. Advanced Accelerator Applications (AAAP), a radiopharmaceutical company, was also 1.6% higher.

And, in the UK, Adaptimmune Therapeutics (ADAP), a clinical-stage biopharmaceutical company, was 4.4% higher, followed by Pearson (PSO), an education company, 3.5% higher and low-cost airline Ryanair (RYAAY), 2.1% higher. CRH (CRH), a building materials company, was 1.9% higher.

By William Spence