ADRs End Mostly Higher; Alibaba, Teva Trade Actively
03 November 2017 - 10:22AM
Dow Jones News
International stocks trading in New York closed mostly higher on
Thursday.
The BNY Mellon index of American depositary receipts improved
0.12% to 150.88. The Asian index rose 0.41% to 179.09. The Latin
American index improved 0.13% to 244.51. And the emerging-markets
index edged up 0.04% to 323.87.
Meanwhile, the European index eased 0.04% to 139.68.
Alibaba Group Holding Ltd. (BABA) and Teva Pharmaceutical
Industries Ltd. (TEVA, TEVA.TV) were among those with ADRs that
traded actively.
Chinese e-commerce giant Alibaba Group Holding Ltd.'s (BABA) net
income more than doubled in a blockbuster second quarter that beat
forecasts, as the company leveraged its huge trove of consumer data
to drive spending and attract more online advertising. ADRs on
Thursday beat the day-old 52-week high in New York before closing
at $184.81, down 0.68% for the day.
Credit Suisse Group AG (CS, CSGN.EB) on Thursday reported a
sharp rise in third-quarter profit on strong growth at its
wealth-management division, indicating the Swiss banking giant's
strategic shift toward managing wealthy clients' money is paying
off. The results--after crosstown rival UBS Group AG reported
strong profit growth last week--provide relief for the Swiss
banking sector, which has been beset for years by negative interest
rates, hefty legal settlements and regulatory changes to bring its
rules in line with global norms on the automatic exchange of client
information. ADRs rose 5% to $16.38.
Randgold Resources Ltd.'s (GOLD, RRS.LN) third-quarter profit
fell due to lower production following a planned decrease in gold
grades at its Loulo-Gounkoto project in Mali and as gold prices
declined. The main negative surprise was the increase in total cash
cost to $667 an ounce versus $572 an ounce in the second quarter,
says Berenberg in a note. ADRs fell 8% to $90.58.
Royal Dutch Shell PLC (RDSB, RDSB.LN) said Thursday
third-quarter profit nearly tripled from the year-ago period,
helped by recovering oil prices, better conditions for its
refineries and an increase in oil and gas production. Net debt at
the British-Dutch oil giant fell to $67.7 billion at the end of the
third quarter, compared with $77.8 billion a year earlier, helped
by a continuing asset disposal program and steep cost-cutting. ADRs
rose 1.3% to $66.03.
The world's biggest seller of generic drugs, Israel's Teva, cut
its annual financial outlook for the second time this year, blaming
price pressure in its U.S. business and greater competition for its
blockbuster multiple sclerosis drug. ADRs fell 20% to $11.23.
(END) Dow Jones Newswires
November 02, 2017 19:07 ET (23:07 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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