ADRs End Mostly Higher; GlaxoSmithKline Trades Actively
27 July 2017 - 9:01AM
Dow Jones News
International stocks trading in New York closed mostly up on
Wednesday.
The BNY Mellon index of American depositary receipts improved
0.51% to 145.79. The European index increased 0.4% to 137.23. The
Asian index rose 0.85% to 167.73. And the emerging-markets index
rose 0.89% to 307.77.
Meanwhile, the Latin American index eased 0.04% to 233.77.
GlaxoSmithKline PLC (GSK, GSK.LN) was among those with ADRs that
traded actively.
GlaxoSmithKline axed more than 30 drug-research projects to
focus on four key disease areas in a push by new Chief Executive
Emma Walmsley to sharpen the company's research-and-development
operations. U.K.-based Glaxo said Wednesday it would now focus its
research on respiratory diseases, HIV and other infectious
diseases, cancer and immuno-inflammatory conditions. ADRs fell 2.7%
to $40.85.
JD.com Inc. (JD) has managed to outpace China's e-commerce
market overall by focusing on fast deliveries, and by expanding its
product line to entice affluent Chinese consumers, who are less
price-sensitive and looking for the latest gadgets and specialty
food items, said Robert Hah, a managing director at Accenture
Strategy Greater China. JD.com's continued growth is being watched
by technology-industry analysts. JD.com is now about $5 billion
below search engine Baidu Inc. (BIDU) in market value, positioning
the online retailer to possibly overtake Baidu as China's
third-largest internet company after Tencent Holding Ltd. and
Alibaba Group Holding Ltd. JD's ADRs closed up 3% at $45.87.
Three years into an oil-price slump, investors want the world's
biggest oil companies to do something they have historically
struggled with: Maintain some financial discipline. The companies
are under pressure to show they are continuing to move on from
budget-busting projects once common in the industry, as they head
into second-quarter financial disclosures that begin on Thursday
with Royal Dutch Shell PLC (RDSA, RDSA.LN, RDSB, RDSB.LN), which
closed up 0.49% at $55.53, and Total SA (TOT, FP.FR), up 1.1% at
$50.39.
Royal Bank of Scotland Group PLC (RBS, RBS.LN) will spend more
than GBP800 million on measures to increase competition in the U.K.
banking market to atone for breaking European Union rules following
its bailout during the financial crisis, the U.K. government said
Wednesday. ADRs closed up 1.1% at $6.70.
(END) Dow Jones Newswires
July 26, 2017 18:46 ET (22:46 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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