ADRs End Lower; Banks, Oil Firms Slide
September 16 2016 - 5:33PM
Dow Jones News
International stocks trading in New York closed lower on
Friday.
Unilever PLC (UL, ULVR.LN) was among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts fell 1.3%
to 125.96. The European index decreased 1.5% to 120.04, the Asian
index dropped 0.9% to 142.06, the Latin American index fell 1.3% to
193.37 and the emerging markets index declined 0.8% to 252.02.
ADRs of Unilever PLC (UL, ULVR.LN) fell 1.7% to $46.02 following
reports in The Wall Street Journal last night that the consumer
goods giant is in talks to buy Honest Co., the retailer co-founded
by actress Jessica Alba, in a deal valued at more than $1 billion.
The deal would give Unilever, with brands like Axe and Dove, access
to the growing "green" cleaning market, as well as the diaper
business. The deal would also add another e-commerce brand to its
portfolio.
ADRs of Ecopetrol S.A. (EC, ECOPETROL.BO) fell 3.1% to $8.32,
ADRs of Royal Dutch Shell PLC (RDSA, RDSA.LN) fell 1.7% to $47.21,
and ADRs of BP PLC (BP, BP.LN) fell 0.9% to $33.31. Oil prices fell
Friday as attention turned to increasing exports from the
Organization of the Petroleum Exporting Countries and a shutdown on
a major U.S. gasoline pipeline keep weighing on prices. Royal Dutch
Shell and Exxon Mobil Corp. (XOM) have both lifted force majeures
on Nigerian exports after militants had caused the shut-in of
supply. Stockpiles of both crude and gasoline are still high, and
are likely to make any disruptions from the pipeline only a
momentary problem, analysts have said.
ADRs of Royal Bank of Scotland Group PLC (RBS, RBS.LN) fell 5.8%
to $4.86, after after news that the U.S. Department of Justice has
asked German lender Deutsche Bank AG (DB) to pay $14 billion to
settle various U.S. probes into mortgage securities it sold during
the financial crisis. A Bankhaus Lampe analyst said it isn't
surprising that Royal Bank of Scotland shares were among those
being sold off, given the bank's own legal issues and its strong
investment division prior to its restructuring. ADRs of Credit
Suisse Group AG (CS, CSGN.EB) fell 4.7% to $13.09 and ADRs of
Barclays PLC (BCS, BARC.LN) fell 4.6% to $8.58.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
September 16, 2016 17:18 ET (21:18 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
BP (NYSE:BP)
Historical Stock Chart
From Aug 2024 to Sep 2024
BP (NYSE:BP)
Historical Stock Chart
From Sep 2023 to Sep 2024