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Biopharma, Tech Stocks Lead European Equities Slightly Lower

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Last updated: 01/25/2023 11:10:01

11:10 AM EST, 01/25/2023 (MT Newswires) -- Biopharmaceutical firms and tech stocks led European equities modestly lower in Wednesday trading, as American depositary receipts of European stocks were down 0.22% to 1,161.41 on the S&P Europe Select ADR Index.

In continental Europe, the gainers were led by biopharmaceutical companies MorphoSys (MOR) and Grifols (GRFS), which rose 3.1% and 2.2%, respectively. They were followed by pharmaceutical company Sanofi (SNY) and telecommunications company Nokia (NOK), which were up 0.7% and 0.3%, respectively.

The decliners in continental Europe were led by biopharmaceutical company Cellectis (CLLS) and 3D printer company voxeljet (VJET), which fell 8.4% and 6.5%, respectively. They were followed by internet browser company Opera (OPRA) and dating app operator Spark Networks (LOV), which dropped 6.1% and 4.2%, respectively.

In the UK and Ireland, the gainers were led by biopharmaceutical company Akari Therapeutics (AKTX) and pharmaceutical company Avadel Pharmaceuticals (AVDL), which advanced 6.7% and 5.6%, respectively. They were followed by financial services companies Lloyds Banking Group (LYG) and Barclays (BCS), which increased 2.2% and 1.2%, respectively.

The decliners in the UK and Ireland were led by biotech firm Autolus Therapeutics (AUTL) and software firm Endava (DAVA), which lost 5.3% and 4%, respectively. They were followed by biopharmaceutical companies Bicycle Therapeutics (BCYC) and Adaptimmune Therapeutics (ADAP), which were down 2.2% and 1.6%, respectively.

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