European ADRs Edge Higher as Oil Stocks Rally

American depository receipts of European stocks were trading 0.2% higher at 119.53 on the Bank of New York Mellon Europe ADR Index on Monday morning.

Gainers in Continental Europe were led by oil and gas production company Eni (E), 4.7% higher, followed by VimpelCom – Com (VIP), a Dutch provider of telecommunications services, up by 4.1% and CGG (CGG), a manufacturer of geophysical equipment, trading 4.0% higher. Nabriva Therapeutics (NBRV), an Austria-based clinical-stage biopharmaceutical company, was up by 2.8%.

In the UK, mining company BHP Billiton (BBL) was 4.1% higher, followed by Amec Foster Wheeler (AMFW), an engineering conglomerate, up by 2.3% and the A and B shares of oil and gas production company Royal Dutch Shell (RDS.A, RDS.B), both 2.2% higher.

Decliners in Continental Europe were led by Forward Pharma (FWP), a Danish biopharmaceutical company, down by 4.2%, followed by financial services provider Credit Suisse (CS), 1.7% lower and voxeljet (VJET), a German three-dimensional printer manufacturer, down by 1.4%. Sequans Communications (SQNS), a French developer of chipset solutions, was 1.1% lower.

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