ADRs End Mostly Lower; iQiyi, Unilever Trade Actively
15 June 2018 - 7:45AM
Dow Jones News
International stocks trading in New York closed mostly lower on
Thursday.
The BNY Mellon index of American depositary receipts declined
0.1% to 150.10. The Asian index eased 0.1% to 183.87. The Latin
American index fell 1.9% to 212.96. And the emerging-markets index
declined 0.4% to 324.61.
Meanwhile, the European index edged up 0.01% to 138.62.
iQiyi Inc. (IQ) and Unilever PLC (UL, ULVR.LN) were among those
with ADRs that traded actively.
GlaxoSmithKline PLC (GSK, GSK.LN) said Thursday its subsidiary,
ViiV Healthcare Ltd., has reported positive phase 3 studies for the
dolutegravir and lamivudine drug combination, demonstrating the
ability to control HIV with a two-drug regimen. ADRs rose 2% to
$41.94.
Unilever said Thursday it was "extremely unlikely" it would keep
a place in the FTSE 100 index after it consolidates its British and
Dutch legal structure in the Netherlands. The move could force some
investors -- namely funds that track the FTSE 100 -- to drop the
company's shares. Unilever will retain a listing in London but not
one that allows it to be included in the FTSE, of which it is one
of the largest components. ADRs fell 3% to $53.63.
Chinese streaming company iQiyi Inc.'s (IQ) ADRs closed at a
record $40.51, up 17% for the day, fueled by investor optimism. The
company was split in March from Baidu Inc., which remains its
controlling shareholder. On Thursday, iQiyi said Ctrip.com Chief
Executive Jane Jie Sun and Dr. Haifeng Wang, Baidu's senior vice
president and general manager of Baidu's artificial intelligence
group, were joining its board. Baidu, meanwhile, closed up 0.2% at
$270.64.
(END) Dow Jones Newswires
June 14, 2018 17:30 ET (21:30 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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