Oil Stocks Lead European Equities Traded in the US as American Depositary Receipts Sharply Lower in Tuesday Trading

European equities traded in the US as American depositary receipts were were sharply lower late Tuesday morning, falling 1.75% to 1,410.73 on the S&P Europe Select ADR Index.

From continental Europe, the gainers were led by telecommunications company Ericsson (ERIC) and furniture maker Natuzzi (NTZ), which climbed 11% and 9.7% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and brewing company Anheuser-Busch InBev (BUD), which increased 2.4% and 1.1% respectively.

The decliners from continental Europe were led by oil and gas company TotalEnergies (TTE) and petroleum refiner Equinor (EQNR), which dropped 4.6% and 4.1% respectively. They were followed by oil and gas company Eni (E) and biotech firm BioNTech (BNTX), which lost 3.1% and 2.3% respectively.

From the UK and Ireland, the gainers were led by cruise line operator Carnival (CUK) and biopharmaceutical company Adaptimmune Therapeutics (ADAP), which rose 6.2% and 1.6% respectively. They were followed by utilities company National Grid (NGG) and communications company WPP (WPP), which were up 1.3% and 1% respectively.

The decliners from the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and oil and gas company BP (BP), which fell 6.5% and 3.2% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and oil and gas company Shell (SHEL), which were down 3.1% each.