European ADRs Edge Higher as Pharmaceutical Stocks See Mixed Fortunes

American depository receipts of European stocks were 0.2% lower at 135.08 on the Bank of New York Mellon Europe ADR Index on Tuesday morning.

Decliners in Continental Europe were led by Cellectis (CLLS), a French genome engineering company, 23.7% lower, followed by CGG (CGG), a manufacturer of geophysical equipment, down by 11.1% and Materialise (MTLS), a Belgian provider of 3D printing software and services, down by 3.3%. Telecom Italia (TI), an Italian telecommunications company, was 2.6% lower.

In the UK, Motif Bio (MTFB), a clinical-stage biopharmaceutical company, was 4.7% lower, followed by Verona Pharma (VRNA), a clinical-stage biopharmaceutical company, down by 2.0% and Carnival (CUK), a cruise vacation company, 1.9% lower. Avadel (AVDL), a specialty pharmaceutical company, was 1.9% lower.

Gainers in Continental Europe were led by Advanced Accelerator Applications (AAAP), a radiopharmaceutical company, 4.8% higher, followed by Forward Pharma (FWP), a Danish biopharmaceutical company, up by 2.1% and Koninklijke Philips Electronics – New York Shares (PHG), a Dutch diversified technology company, 2% higher. ABB (ABB), a technology company, was up by 1.9%.

And, in the UK, Amec Foster Wheeler (AMFW), a global engineering conglomerate, was 7.3% higher, Akari Therapeutics (AKTX), a development-stage biopharmaceutical company, was up by 4.4%, Randgold Resources (GOLD), a gold-mining company, was up by 2.1% and AstraZeneca, a biopharmaceutical company, was 1.0% higher.

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