European ADRs Trade Lower

American depository receipts of European stocks were trading 0.3% lower at 133.34 on the Bank of New York Mellon Europe ADR Index before midday on Wednesday. Decliners in Continental Europe were led by Italian mobile network operator Telecom Italia (TI), down 1.7%; followed by Spanish financial services group Banco Bilbao Vizcaya Argentaria (BBVA), 1.5% lower; French digital performance marketing company Criteo (CRTO), down 1.5%; and Danish biopharmaceutical Ascendis Pharma (ASND), down 1.2%.

In the United Kingdom, shares of London-based provider of advertising and marketing services WPP plc (WPPGY) fell 11.8%, clinical-stage biopharmaceutical Akari Therapeutics (AKTX) tumbled 8.6%, education and media company Pearson (PSO) decreased 1.4%, while British insurance holding company Prudential (PUK) declined 1.4% Gainers in Continental Europe were led by French maker of geophysical equipment CGG (CGG), up 28.8%; France-based semiconductor company Sequans Communications (SQNS), 8% higher; French clinical-stage biopharmarceutical DBV Technologies (DBVT), up 3.2%; and Belgium-based biopharmaceutical TiGenix (TIG), 3.2% higher.

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