ADRs End Higher; Miners Trade Actively
December 11 2017 - 5:50PM
Dow Jones News
International stocks trading in New York closed higher on
Monday.
The BNY Mellon index of American depositary receipts increased
0.4% to 150.40. The European index improved 0.4% to 140.02. The
Asian index rose 0.6% to 177.30. The Latin American index improved
0.4% to 239.07, and the emerging-markets index rose 0.8% to
318.45.
Miners were among those with ADRs that traded actively.
HSBC Holdings PLC (HSBC, HSBA.LN, 0005.HK) is to be released
from an agreement with the Justice Department that let it avoid
U.S. criminal charges in 2012, after it was judged to have
sufficiently improved its systems to keep out financial criminals.
The expiration of the five-year deferred prosecution agreement is a
win for the bank and Chief Executive Stuart Gulliver, who had
sought to have the case cleared before he retires in February. It
also heralds the end of a contentious relationship between HSBC and
an independent monitor installed at the bank as part of the
settlement. ADRs rose 1.7% to $50.20.
Miners gain on Monday as copper prices recover following losses
last week. On Friday, China reported that imports of copper
concentrate reached a record high in November, metal trader Marex
Spectron notes. Among the base-metal miners that gained are Rio
Tinto PLC (RIO, RIO.LN), up 1.7% to $47.95, and BHP Billiton PLC
(BBL, BLT.LN), up 1.9% to $36.64.
Nokia Corp. (NOK, NOKIA.HE) on Monday appointed company veteran
Joerg Erlemeier as its chief operating officer, succeeding Monika
Maurer, who is leaving to pursue new opportunities. Mr. Erlemeier
has held several leadership roles at Nokia since joining in 1994,
most recently serving as senior vice president of Nokia
Transformation. His appointment is effective immediately. ADRs
closed down 1.3% at $4.58.
(END) Dow Jones Newswires
December 11, 2017 17:35 ET (22:35 GMT)
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