11:09 AM EDT, 08/02/2024 (MT Newswires) -- European equities traded in the US as American depositary receipts were moving sharply lower late Friday morning, dropping 1.92% to 1,387.47 on the S&P Europe Select ADR Index. The index is down 2.7% for the week.

From continental Europe, the gainers were led by brewing company Anheuser-Busch InBev ( BUD ) and biopharmaceutical company MorphoSys ( MOR ) , which rose 3.8% and 2.2%, respectively. They were followed by pharmaceutical firm Sanofi ( SNY ) and electronics company Philips (PHG), which were up 2.1% each.

The decliners from continental Europe were led by pharmaceutical company Ascendis Pharma ( ASND ) , which fell 6.1%, followed by internet browser company Opera (OPRA), which declined 5%. They were followed by biotech firm Evaxion Biotech ( EVAX ) and financial services company Banco Santander (SAN), which dropped 4.1% and 3.6%, respectively.

From the UK and Ireland, the gainers were led by utilities company National Grid ( NGG ) and pharmaceutical firm GSK (GSK), which added 2.1% and 1%, respectively. Pharmaceutical firm AstraZeneca ( AZN ) and tobacco company British American Tobacco ( BTI ) were also up 0.5% and 0.1%, respectively.

The decliners from the UK and Ireland were led by biopharmaceutical companies TC Biopharm ( TCBP ) and Adaptimmune Therapeutics ( ADAP ) , which fell 19% and 11%, respectively. They were followed by biopharmaceutical companies Verona Pharma ( VRNA ) and Biodexa Pharmaceuticals ( BDRX ) , which lost 7.4% and 6.6%, respectively.