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European Equities Traded in US as ADRs Ease in Thursday Trading

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-- European equities traded in the US as American depositary receipts eased late Thursday morning with the S&P Europe Select ADR Index dropping 0.1% to 1,801.52.

From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and pharmaceutical company Sanofi (SNY), which rose 6.4% and 2.5%, respectively. They were followed by biopharmaceutical company argenx (ARGX) and medical device maker EDAP TMS (EDAP), which were up 0.7% and 0.6%, respectively.

The decliners from continental Europe were led by software firm SAP (SAP) and internet advertising company Criteo (CRTO), which fell 5% and 3.5%, respectively. They were followed by internet browser company Opera (OPRA) and 3D printer company Materialise (MTLS), which were down 3.2% and 3.1%, respectively.

The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and hospitality company InterContinental Hotels Group (IHG), which advanced 4.8% and 2.4%, respectively. They were followed by biopharmaceutical company Amarin (AMRN) and telecommunications operator Vodafone Group (VOD), which increased 2% and 1.6%, respectively.

The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and biotech firm Trinity Biotech (TRIB), which lost 6.4% and 6.2%, respectively. They were followed by software firm Endava (DAVA) and biopharmaceutical company Akari Therapeutics (AKTX), which dropped 6.1% and 2.6%, respectively.

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Capstone Copper (CS.TO) after the close Wednesday reported a nearly 12-fold surge in first-quarter adjusted net income as higher copper prices boosted earnings, with results topping analysts' estimates.The company posted record adjusted net income attributable to shareholders , excluding most one-time items, of US$94.8 million, or US$0.12 per share, up from US$8.1 million, or US$0.01 per share, a year earlier. The result exceeded FactSet analysts' estimate of US$0.11 per share.Capstone said the increase was driven by stronger earnings from mining operations, supported by higher realized copper prices.Revenue for the three months ended March 31 rose to US$652.5 million from US$533.3 million in the prior-year period, beating FactSet analysts' estimate of US$647.5 million.The company also reported record adjusted EBITDA of US$329.1 million for Q1 2026, up from US$179.9 million a year earlier, primarily due to higher realized copper prices, which rose 36% to US$5.92 per pound, and supported by stronger gold and silver prices. This marked the sixth consecutive quarter of record adjusted EBITDA, the company said.In its 2026 production outlook, the company issued guidance of 200,000 to 230,000 tonnes of copper and C1 cash costs guidance of $2.45 to $2.75 per payable pound of copper remains unchanged. 2026 capital expenditure, capitalized stripping, and exploration expenditure guidance is also unchanged."We continue to monitor and manage the impacts stemming from the conflict in the Middle East. To date we have not experienced any inventory or operational impacts, however cost pressures, notably from higher diesel and sulphuric acid prices, represent a headwind," Capstone said.The company said its MV Optimized Project progressed according to plan during Q1 2026 and the capital cost estimate of US$176 million is unchanged. MV Optimized is a capital-efficient brownfield expansion project providing incremental copper and gold production of approximately 20,000 tonnes and 6,000 ounces of gold per annum, respectively."For the remainder of 2026, we are focused on operational execution and continuing to advance our high-return organic growth opportunities, including executing the Mantoverde Optimized Project, advancing Santo Domingo to a sanctioning decision, and progressing our exploration strategy centered around district-scale growth. Despite recent geopolitical volatility, copper prices remain strong and fundamentals support continued momentum, reinforcing our ability to deliver significant value through our peer-leading growth pipeline," chief executive Cashel Meagher said,Company's shares closed down $0.21 to $10.84 on Toronto Stock Exchange.

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