ADRs End Mostly Lower; Royal Dutch Shell Declines
05 May 2016 - 9:04AM
Dow Jones News
International stocks trading in New York closed mostly lower on
Wednesday.
Royal Dutch Shell PLC (RDSA, RDSA.LN) was among the companies
with ADRs that traded actively.
The BNY Mellon index of American depositary receipts fell 1.4%
to 122.09. The European index declined 1.7% to 120.52, the Asian
index eased 0.8% to 128.42, the Latin American index edged up 0.02%
to 179.97 and the emerging markets index edged down 0.41% to
227.74.
Royal Dutch Shell said it plans to slash its capital spending by
nearly 10% in 2016 as it contends with a nearly two-year slump in
oil prices. The Anglo-Dutch oil giant also reported a sharp drop in
quarterly profit. ADRs fell 2.5% to $50.22.
Anheuser-Busch InBev NV (BUD, ABI.BT), the world's largest
brewer said first quarter profit fell 95%, reflecting nearly $2
billion in financing costs, much of it related to its pending
acquisition of SABMiller PLC. ADRs fell 1.5% to $123.05.
Barclays PLC (BCS, BARC.LN) that it will sell a 12.2% stake in
its African unit to an array of investors, as the British bank
pushes ahead with its retreat from the continent. ADRs fell 2.1% to
$9.45.
A unit of HSBC Holdings PLC (HSBC, 0005.HK, HSBA.LN) is
appealing what would be the largest fine ever imposed by Hong
Kong's securities regulator. Lawyers representing HSBC Private Bank
(Suisse) SA on Wednesday began their appeal of the 605 million Hong
Kong dollars (US$78 million) fine handed down in July of last year
by the Hong Kong regulator related to alleged misconduct
surrounding products sold to HSBC's private banking clients between
2003 and 2008. ADRs of HSBC Holdings fell 2.3% to $31.86.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
May 04, 2016 18:49 ET (22:49 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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