ADRs End Higher; Barclays Rises
November 18 2015 - 6:41PM
Dow Jones News
International stocks trading in New York closed higher on
Wednesday.
Barclays PLC (BCS, BARC.LN) was among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts rose 1.1%
to 132.16. The European index increased 1.2%, to 132.09; the Asian
index edged up 0.58%, to 140.33; the Latin American index rose
2.2%, to 167.20; and the emerging markets index increased 0.94%, to
223.89.
Barclays has agreed to pay $150 million to resolve an
investigation by New York's banking regulator into a trading
practice that allowed the bank to exploit a milliseconds-long lag
between an order and its execution to its clients' detriment. The
penalty is the latest to stem from Barclays' foreign-exchange
trading, a line of business that, with the latest settlement, has
cost the British bank more than $2.5 billion in penalties. ADRs
rose 1.6%, to $13.92.
Finnish wireless-equipment specialist Nokia Corp. (NOK,
NOKIA.HE) on Wednesday commenced its share-exchange offer with
Alcatel-Lucent SA (ALU, ALU.FR) shareholders in Paris and New York,
betting its 15.6 billion euros ($16.6 billion) acquisition will
allow the new company to better compete in a global race for scale
in the business of making telecommunications and Internet gear.
Nokia ADRs rose six cents, to $7.31. Alcatel-Lucent ADRs increased
1%, to $3.97.
Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) said late
Tuesday that oil production in Brazil rose 2.1% in October from the
previous month, thanks to the completion of maintenance operations.
However, Petrobras reported that output from the vital pre-salt
fields fell 2.3%. The Brazilian state-run oil company touts its
pre-salt production often, and the metric is closely watched as
production from mature fields starts to plateau. The numbers next
month likely will be much worse, affected by major production
stoppages resulting from a continuing oil workers' strike. On
Wednesday, Petrobras's ADRs rose 4.3%, to $5.07.
Write to Tess Stynes at tess.stynes@wsj.com
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(END) Dow Jones Newswires
November 18, 2015 18:26 ET (23:26 GMT)
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