European ADRs Advance as Telecommunication Stocks Gain Traction

American depository receipts of European stocks were trading 0.5% higher at 119.66 on the Bank of New York Mellon Europe ADR Index on Friday morning.

Gainers in Continental Europe were led by Nokia (NOK), a technology investor, up by 3.2%, followed by telecommunications company Orange (ORAN), 2.8% higher and VimpelCom – Com (VIP), a Dutch provider of telecommunications services, up by 2.4%. Criteo (CRTO), a French technology company specializing in digital performance marketing, was trading 2.3% higher.

In the UK, Shire (SHPG), a biopharmaceutical company, was 1.9% higher, and Adaptimmune Therapeutics (ADAP), a clinical-stage biopharmaceutical company, was also up by 1.9%. Telecommunications company Vodafone (VOD) was up by 1.6% and Amarin (AMRN), a biopharmaceutical company, was also up by 1.6%.

Decliners in Continental Europe were led by Materialise (MTLS), a Belgian provider of 3D printing software and services, 2.8% lower, followed by Sanofi (SNY), a French healthcare company, down by 2.2% and and ArcelorMittal (MT), a Luxembourg steelmaker, 1.0% lower. Luxottica (LUX), an Italian eyewear company, was down by 0.9%.

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