ADRs End Higher; Nokia Declines
May 10 2016 - 6:14PM
Dow Jones News
International stocks trading in New York closed higher on
Tuesday.
Nokia Corp. (NOK, NOKIA.HE) was among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts rose 1.5%
to 123.34. The European index increased 1.1% to 121.43, the Asian
index improved 1.7% to 130.43, the Latin American index rose 4.1%
to 182.40 and the emerging markets index increased 2% to
229.15.
Nokia reported first-quarter results below expectations on
sluggish mobile-network sales and charges related to the recent
acquisition of French rival Alcatel-Lucent SA. ADRs fell 6.7% to
$5.31.
Mining giant BHP Billiton Ltd. (BHP, BHP.AU) said it will forge
ahead with investments to boost production capacity, particularly
in copper and oil, despite the protracted rout in commodity prices.
ADRs of BHP Billiton Ltd. rose 3.5% to $27.17 and BHP Billiton PLC
(BBL, BLT.LN) increased 3.9% to $24.08.
ADRs of Credit Suisse Group (CS, CSGN.EB) rose 4.2% to $13.90
after the Zurich-based lender reported its first-quarter results.
While Credit Suisse swung to its second consecutive quarterly loss,
its wealth management business turned in better numbers than
expected, encouraging investors.
ADRs of ING Groep NV (ING, INGA.AE) rose 2.6% to $11.94 after
the Dutch bank reported first-quarter earnings, even as higher
regulatory costs weighed on profits. Analysts said the regulatory
costs overshadowed an otherwise solid operating performance, which
benefited from robust interest income, lending growth and a drop in
loan impairments.
A leading shareholder advisory group has criticized a decision
by Royal Dutch Shell PLC (RDSA, RDSA.LN) to award its chief
executive a chunky bonus in 2015 and recommended investors vote
against the payment plans at the oil giant's annual meeting this
month. ADRs rose 2.1% to $50.63 as oil prices strengthened.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
May 10, 2016 17:59 ET (21:59 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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