ADRs End Higher; Financial Firms Rise
12 July 2016 - 8:45AM
Dow Jones News
International stocks trading in New York closed higher on
Monday.
The BNY Mellon index of American depositary receipts rose 1.4%
to 123.46. The European index increased 1% to 119.90; the Asian
index improved 2.2% to 133.30; the Latin American index rose 1% to
188.91; and the emerging markets index increased 1.7% to
238.94.
Financial firms were among the companies with ADRs that traded
actively.
The U.K.'s FTSE 100 rose 1.4% on Monday, continuing Friday's
gains after the strong U.S. jobs report fueled investor optimism.
Among U.K. companies with ADRs, financial firms were among the
biggest gainers, including Royal Bank of Scotland Group PLC (RBS,
RBS.LN), which increased 7.3% to $4.72. Barclays PLC (BCS, BARC.LN)
rose 4.8% to $7.67 and Lloyds Banking Group PLC (LYG, LLOY.LN)
advanced 4.7% to $2.87.
U.S. Justice Department officials overruled their prosecutors'
recommendation to pursue criminal charges against HSBC Holdings PLC
(HSBC, HSBA.LN, 0005.HK) over money-laundering failings in 2012,
according to a House committee report prepared by Republicans that
was reviewed by The Wall Street Journal before its release Monday.
ADRs of HSBC rose 1.9% to $31.08.
Swiss banking giant UBS Group AG (UBS) saw its market
capitalization slip 36% from the end of last year to the end of
June, which pushed the bank to 5th largest in Europe from a
previous ranking of No. 3, according to data from S&P Global
Market Intelligence. The slide was far more pronounced for Swiss
rival Credit Suisse AG (CS, CSGN.EB), which fell to No. 19 as of
the end of June, from No. 12 as of the end of 2015; Credit Suisse's
market capitalization fell slightly more than 50% over the period.
ADRs of UBS rose 2.1% to $12.51 and Credit Suisse increased 2.9% to
$10.76.
Brazilian aircraft manufacturer Embraer SA (ERJ, EMBR3.BR)
delivered fewer planes and reported a smaller backlog in the second
quarter, the company said in a statement Monday. Embraer said it
delivered 52 jets in the period, down from 60 planes in the
year-earlier quarter. ADRs fell 18 cents to $21.41.
Advertising firm WPP PLC (WPPGY, WPP.LN) said Monday its
subsidiary Grey Group, has acquired a majority stake in the holding
company of Famous, a creative agency in Belgium, for an undisclosed
sum. Following the acquisition, Famous will rebrand as FamousGrey,
WPP said. ADRs rose 1.1% to $108.43.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
July 11, 2016 18:30 ET (22:30 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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