ADRs End Mostly Lower; Air Travel, Tourism Firms Decline
March 22 2016 - 6:20PM
Dow Jones News
International stocks trading in New York closed mostly lower on
Tuesday.
Air travel and tourism firms were among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts fell 0.42%
to 123.21. The European index decreased 0.64% to 120.34, the Asian
index edged down 0.13% to 133.43, the Latin American index edged up
0.34% to 176.09 and the emerging markets index eased 0.06% to
230.81.
ADRs of a number of air travel and tourism companies declined in
the aftermath of attacks at Brussels Airport and in a subway
station in the city, the second major terror attack on a European
capital in four months. Among the decliners, ADRs of Ryanair
Holdings PLC (RYAAY, RYA.LN, RY4C.DB) , Europe's largest budget
airline, fell 1.1% to $82.91. Intercontinental Hotels Group PLC
(IHG, IHG.LN), whose brands include Holiday Inn and Crowne Plaza,
declined 2.7% to $39.63 and cruise-ship operator Carnival PLC (CUK,
CCL.LN) dropped 2.5% to $49.82.
Italian eyewear company Luxottica Luxottica Group SpA (LUX,
LUX.MI) has released strong 2015 results and a confident outlook
for this year but its bonds will be taking a breather, according to
UniCredit. Credit analyst Silke Stegemann cuts his recommendation
to marketweight from overweight. ADRs fell 1.3% $54.39.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
March 22, 2016 18:05 ET (22:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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