ADRs End Mixed; Royal Dutch Shell, Total Rise
29 Gennaio 2016 - 12:24AM
Dow Jones News
International stocks trading in New York were mixed on
Thursday.
The BNY Mellon index of American depositary receipts edged up
0.05% to 117.31. The European index rose 0.05% to 118.03, the Asian
index eased 0.12% to 124.79, the Latin American index rose 0.9% to
132.65 and the emerging markets index increased 0.08% to
195.94.
Royal Dutch Shell PLC's (RDSA, RDSA.LN) and Total SA (TOT,
FP.FR) were among the companies with ADRs that traded actively.
BG Group PLC's shareholders signed off on Shell's roughly $50
billion takeover bid for the company, clearing the final hurdle to
a deal that will create one of the world's largest liquefied
natural gas producers while also bolstering Shell's deep water oil
projects. Shell's ADRs rose 3.7% to $43.33.
Iranian Oil Minister Bijan Zanganeh said his country will sign
an agreement with Total allowing the French oil major to buy
hundreds of thousands of barrels of Iranian crude oil a day,
ramping up the country's efforts to attract investment in its oil
industry following the lifting of international sanctions. ADRs
rose 1.8% to $44.05.
Alibaba Group Holding Ltd. (BABA) posted stronger-than-expected
earnings in its latest quarter despite a slowdown in China's
economy, highlighting the resilience of China's consumers. Still,
ADRs of the Chinese e-commerce giant fell 3.8% to $66.92.
Banco Bradesco SA (BBDO, BBD, BBDC4.BR) warned on of little or
no increase in business demand for credit this year as Brazil
remains mired in recession. While Brazil's fourth-largest bank in
terms of assets reported a rise in fourth-quarter net profit, its
also recorded an increase in bad debts. ADRs fell three cents to
$4.74.
Diageo PLC (DEO, DGE.LN) reported that its half-year operating
profit tumbled on lower sales in the U.S., adding to pressure on
Chief Executive Ivan Menezes to turn around the company's most
important market. ADRs of the maker of Johnnie Walker whisky and
Smirnoff vodka fell 13 cents to $106.29.
The U.K. government said it has postponed a planned sale of
shares in the partially state-owned lender Lloyds Banking Group PLC
(LYG, LLOY.LN), citing continuing turmoil in financial markets. The
British government began selling its stake in the lender last year
and currently owns less than 10% of the bank, which was bailed out
by taxpayers in 2008. ADRs rose 1.1% to $3.75.
Brazilian oil company Petroleo Brasileiro SA (PBR, PETR3.BR,
PETR4.BR) unveiled changes to its management structure intended to
save 1.8 billion reais ($441.5 million) per year. The changes are
necessary for the state-controlled company, known as Petrobras, to
adapt to "the new reality of the oil and gas sector" and to give a
greater priority to profit and financial discipline, the company
said in a note to Brazil's market regulator. ADRs rose 2.2% to
$3.20.
Posco (PKX, 005490.SE), the world's fifth-largest steelmaker by
output, reported its first ever annual loss, hit by China's
slowdown, investment write-downs and a weaker local currency that
inflated its overseas debt. South Korean steelmaker's ADRs rose
five cents to $35.72.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
January 28, 2016 18:09 ET (23:09 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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