European ADRs Move Lower

American depository receipts of European stocks were 0.9% lower at 124.13 on the Bank of New York Mellon Europe ADR Index on Tuesday morning. Decliners in Continental Europe were led by CGG (CGG), a manufacturer of geophysical equipment, 4.7% lower, followed by Sequans Communications (SQNS), a French developer of chipset solutions, down by 3.7% and ArcelorMittal (MT), a Luxembourg steelmaker, 3.2% lower. Statoil (STO), an oil and gas production company, was 2.7% lower.

In the UK, Amec Foster Wheeler (AMFW), a global engineering conglomerate, was 5.7% lower, followed by Royal Bank of Scotland (RBS), down by 4.4% and Lloyds Banking Group (LYG), 3.8% lower. Adaptimmune Therapeutics (ADAP), a clinical-stage biopharmaceutical company, was 3.7% lower.

Gainers in Continental Europe were led by Edap (EDAP), a French medical devices developer, 1.9% higher, followed by Nabriva Therapeutics (NBRV), an Austria-based clinical-stage biopharmaceutical company, up by 1.0% and Unilever (UL), a Dutch consumer goods company, 0.7% higher. voxelJet (VJET), a German three-dimensional printer manufacturer, was also 0.7% higher.

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