European ADRs Slip Lower

American depository receipts of European stocks were 0.3% lower at 134.98 on the Bank of New York Mellon Europe ADR Index on Wednesday morning. Decliners in Continental Europe were led by CGG (CGG), a manufacturer of geophysical equipment, 5.9% lower, followed by Criteo (CRTO), a French technology company, down by 3.5% and Novo Nordisk (NVO), a Danish healthcare company, down by 2.1% and Orange (ORAN), a French telecommunication services company, 1.8% lower.

In the UK, Akari Therapeutics (AKTX), a clinical-stage biopharmaceutical company, was 4.2% lower, followed by WPP (WPPGY), a provider of advertising and marketing services, down by 4.1% and Vodafone Group (VOD), a mobile communications company, down by 3.5% and Amec Foster Wheeler (AMFW), a global engineering conglomerate, down by 2.9%. Gainers in Continental Europe were led by Edap (EDAP), a French medical devices developer, up by 4.6%, followed by Sequans Communications (SQNS), a French developer of chipset solutions, up by 3.8% and TiGenix (TIG), a Belgium-based biopharmaceutical company, up by 3.0% and Banco Bilbao Vizcaya Argentaria (BBVA), 2.6% higher.

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