DR Market News Briefs

Financial Stocks Burden European Equities Again Friday Trading


Last updated: 03/17/2023 11:08:19

11:08 AM EDT, 03/17/2023 (MT Newswires) -- Amid a global banking crisis, financial stocks led European equities sharply lower again in Friday trading as American depositary receipts of European stocks fell 1.56% to 1,090.88 on the S&P Europe Select ADR Index. The index is down more than 2.2% for the week so far.

In continental Europe, the lone gainer was pharmaceutical company Novo Nordisk (NVO), which rose 0.8%.

The decliners in continental Europe were led by dating app operator Spark Networks (LOV) and financial services company Credit Suisse Group (CS), which fell 7.5% and 7.4%, respectively. They were followed by financial services company ING (ING) and furniture maker Natuzzi (NTZ), which dropped 6.3% and 6.2%, respectively.

In the UK and Ireland, the gainers were led by biopharmaceutical companies NuCana (NCNA) and Akari Therapeutics (AKTX), which rose 3.8% and 0.7%, respectively. They were followed by pharmaceutical company GlaxoSmithKline (GSK) and biotech firm Trinity Biotech (TRIB), which were up 0.4% and 0.01%, respectively.

The decliners in the UK and Ireland were led by biopharmaceutical company Adaptimmune Therapeutics (ADAP) and insurance firm Prudential (PUK), which lost 4.6% each. They were followed by financial services company HSBC (HSBC) and cruise line operator Carnival (CUK), which were down 4.5% and 4.3%, respectively.

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