ADRs End Higher; Embraer Trades Actively
06 January 2018 - 10:16AM
Dow Jones News
International stocks trading in New York closed higher on
Friday.
The BNY Mellon index of American depositary receipts increased
0.8% to 158.66. The European index improved 0.5% to 145.92. The
Asian index rose 1.3% to 189.70. The Latin American index increased
0.9% to 262.17. And the emerging-markets index rose 1.3% to
343.47.
Embraer SA (ERJ, EMBR3.BR) was among those with ADRs that traded
actively.
Mexico's Cemex SAB (CX, CEMEX.MX) will pay a $25.4 million
Colombian antitrust fine for alleged price-fixing, but will seek to
have the sanction overturned in an administrative court. The
Monterrey-based cement maker says the fine won't have a material
impact on its operations or finances even if the appeal is
unsuccessful. Cemex, Holcim Colombia and Cementos Argos were fined
after authorities in the South American country said they
deliberately abstained from competing on cement prices in the
2010-2012 period. Cemex's ADRs fell 0.8% to $7.89.
Boeing Co. is in talks with Embraer SA and Brazil's government
on ways to address the government's concerns about the U.S.
planemaker's potential takeover of its Brazilian rival, according
to people familiar with the matter. Embraer's ADRs fell 4% to
$25.76.
Novartis AG (NVS, NOVN.EB) should see a "sustained period" of
double-digit growth in core earnings per share starting in 2018,
Jefferies says. Cosentyx, a psoriasis treatment, and Entresto, a
drug for heart failure, will continue to drive growth, with
increasing contributions from Novartis's pipeline over time,
Jefferies says, and the impact on growth from loss of exclusivity
for certain drugs will be "more muted." ADRs rose 1% to $86.27.
(END) Dow Jones Newswires
January 05, 2018 18:01 ET (23:01 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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