ADRs End Higher; BHP Billiton Rises
March 16 2016 - 6:05PM
Dow Jones News
International stocks trading in New York closed higher on
Wednesday.
BHP Billiton was among the companies with ADRs that traded
actively.
The BNY Mellon index of American depositary receipts rose 0.8%
to 122.37. The European index increased 0.4% to 120.59, the Asian
index improved 1.2% to 131.75, the Latin American index rose 1.8%
to 163.08 and the emerging markets index increased 2.1% to
223.75.
BHP Billiton Chief Executive Andrew Mackenzie said in an
interview with The Wall Street Journal that the Anglo-Australian
mining giant is sizing up deals for petroleum and copper assets
that could offer an immediate boost to profits amid what it now
expects to be a prolonged period of low commodity prices. ADRs of
BHP Billiton Ltd. (BHP, BHP.AU) rose 4% to $26 and BHP Billiton PLC
(BBL, BLT.LN) increased 3.6% to $22.69.
Anheuser-Busch InBev NV (BUD, ABI.BT) sold 13.25 billion euros
($14.8 billion) in debt in the largest sale ever of
euro-denominated corporate bonds. The world's largest brewer plans
to use the proceeds to finance a portion of its $108 billion
takeover of rival drinks firm SABMiller PLC (SBMRY, SAB.LN,
SAB.JO). The deal comes amid a flurry of bond sales from European
companies this week. The increased activity follows the European
Central Bank's announcement last week that it will start buying
corporate debt later this year. ADRs rose 72 cents to $117.23.
Baidu Inc. (BIDU, K3SD.SG) will soon start testing autonomous
cars in the U.S., part of the Chinese tech giant's effort to
introduce a commercially viable model by 2018. The move, disclosed
by Baidu's chief scientist Andrew Ng in an interview, is a
significant step for the company, which is trying to get ahead in
the race to build autonomous cars and is now calling on the
resources of its Silicon Valley tech center to advance the effort.
ADRs rose 1.6% to $183.05.
Cheetah Mobile Inc. (CMCM) issued first-quarter revenue guidance
that missed analysts expectations and signaled slower growth at the
Chinese mobile utility and security app company. ADRs rose 11 cents
to $15.96.
Low-cost airline GOL Linhas Aereas Inteligentes SA (GOL,
GOLL4.BR) continues to come under pressure from Brazil's economic
woes, with traffic down 4.1% in the first two months of the year
and the percentage of seats filled sliding to 79.2% from 80.1%.
Brazilians are delaying vacation plans as the country's economic
recession deepens. ADRs fell 1.8% to $7.08.
A U.S. jury declared valid two Amgen Inc. (AMGN) patents linked
to the company's recently approved cholesterol-lowering drug,
delivering a setback to Regeneron Pharmaceuticals Inc. (REGN) and
Sanofi (SNY), makers of a rival drug. Regeneron and Sanofi, in a
prepared statement, said they "strongly disagree" with the verdict
by the Delaware jury and that they plan to appeal. Amgen, in a
separate statement, said it was thankful for the verdict and that
proceedings will follow on damages and whether a permanent
injunction will be approved that would remove the rival drug from
the market. Sanofi's ADRs fell 1% to $40.76.
The U.S. consumer unit of Banco Santander SA (SAN, SAN.MC) said
it has again missed the deadline to file its annual report after
regulators raised questions about how it provisions for loans. The
second delay in the publishing of Santander Consumer's 2015 annual
accounts escalates the problems facing Santander Executive Chairman
Ana Botin in the U.S. Ms. Botin has appointed new executives in the
U.S. and stepped up meeting with regulators to try to shape up the
Spanish-lender's U.S. operations. ADRs fell 1.1% to $4.71.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
March 16, 2016 17:50 ET (21:50 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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