European ADRs Edge Higher as Banks Log Gains

American depository receipts of European stocks were 0.4% higher at 114.39 on the Bank of New York Mellon Europe ADR Index on Tuesday.

Gainers in Continental Europe were led by CGG (CGG), a manufacturer of geophysical equipment, 3.7% higher, followed by Telecom Italia – Savings (TI.A), an Italian telecommunications company, up by 3.4% and Telecom Italia (TI), 3.2% higher. Natuzzi (NTZ), an Italian furniture manufacturer, was 3.1% higher.

In the UK, Barclays Bank (BCS) was 2.8% higher, followed by BT Group (BT), a communications services company, up by 2.2% and Royal Bank of Scotland (RBS), 1.7% higher. Financial services provider Prudential (PUK) was up by 1.4%.

Decliners in Continental Europe were led by Advanced Accelerator Applications (AAAP), a radiopharmaceutical company, 5.4% lower, followed by Nabriva Therapeutics (NBRV), an Austria-based clinical-stage biopharmaceutical company, down by 3.3% and Sequans Communications (SQNS), a semiconductor developer, down by 2.9%. Energy company Statoil (STO) was 2.2% lower.