European Equities Traded in the US as American Depositary Receipts Climb Higher in Wednesday Trading

TC BioPharm said Wednesday it executed a non-binding letter of intent to acquire a commercial-stage ophthalmic pharmaceutical company in an all-stock transaction.

The target company has a US Food and Drug Administration-approved once-per-day drop to decrease intraocular pressure and a pipeline of development-stage assets in ophthalmology indications, TC said.

The company said it expects to execute the binding letter of intent in the next 2-3 weeks and close the acquisition in Q3 of 2025.

Shares of TC BioPharm were over 8% lower in recent trading.

European equities traded in the US as American depositary receipts fell late Tuesday morning with the S&P Europe Select ADR Index down 0.75% to 1,409.96

From continental Europe, the gainers were led by consumer goods giant Unilever (UL) and pharmaceutical company Sanofi (SNY), which rose 2.3% and 1.9% respectively. They were followed by brewing company Anheuser-Busch InBev and medical device maker EDAP TMS , which were up 1.4% and 0.4% respectively.

The decliners from continental Europe were led by biotech firm Evaxion Biotech E and semiconductor company Sequans Communications , which lost 5.6% and 4.9% respectively. They were followed by financial services company Banco Santander and biopharmaceutical company DBV Technologies , which dropped 4.4% and 4.3% respectively.

From the UK and Ireland, the gainers were led by pharmaceutical companies Silence Therapeutics and GSK , which increased 3% and 2.9% respectively. They were followed by educational publisher Pearson and biotech company Autolus Therapeutics , which advanced 2.5% and 1.7% respectively.

The decliners from the UK and Ireland were led by biopharmaceutical company TC Biopharm and construction materials supplier CRH , which fell 9.6% and 6.4% respectively. They were followed by cruise line operator Carnival and biopharmaceutical company NuCana , which were down 5.9% and 3.1% respectively.