European ADRs Edge Lower

American depository receipts of European stocks were 0.5% lower at 121.75 on the Bank of New York Mellon Europe ADR Index on Thursday morning.

Decliners in Continental Europe were led by Luxottica (LUX), an Italian eyewear company, 2.4% lower, followed by Edap (EDAP), a French medical devices developer, down by 1.8% and Novartis (NVS), a Swiss company which manufactures healthcare products, 1.7% lower. Nabriva Therapeutics (NBRV), an Austria-based clinical-stage biopharmaceutical company, was 1.5% lower.

In the UK, GW Pharmaceuticals (GWPH), a biopharmaceutical company, was 2.2% lower, followed by oil and gas production company Royal Dutch Shell – B Shares (RDS.B), AstraZeneca (AZN), a biopharmaceutical company, and Amec Foster Wheeler (AMFW), a global engineering conglomerate, all 1.3% lower.

Gainers in Continental Europe were led by Oasmia Pharmaceuticals (OASM), a Sweden-based pharmaceutical company, up by 10%, followed by Telecom Italia (TI), an Italian telecommunications company, and Telecom Italia – Savings (TI.A), 2.7% and 1.8% higher, respectively, followed by VimpelCom (VIP), a Dutch provider of telecommunications services, up by 1.5%. STMicroelectronics – New York Shares (STM), an Italian semiconductor company, was up by 1.2%.

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