International stocks trading in New York closed lower on
Thursday.
The BNY Mellon index of American depositary receipts edged down
0.35% to 143.44. The European index eased 0.25% to 143.63, the
Asian index fell 0.15% to 149.55, the Latin American index dropped
2.3% to 194.53 and the emerging markets index declined 0.84% to
245.03. Credit Suisse Group AG (CS, CSGN.VX) was among the
companies with ADRs that traded actively.
Credit Suisse notched a better-than-expected second-quarter
profit, cheering investors and providing the Zurich-based bank's
chief executive, Tidjane Thiam, with momentum in his first month on
the job. ADRs rose 5.7% to $29.69.
The U.S. Securities and Exchange Commission is investigating
whether Diageo PLC (DEO, DGE.LN) has been shipping excess inventory
to distributors in an effort to boost the liquor company's results,
The Wall Street Journal reported. Diageo on Thursday confirmed to
The Wall Street Journal that it received an inquiry from the SEC
regarding its distribution in the U.S. ADRs fell nearly 4% to
$114.91.
LG Display Co. (LPL, 034220.SE) said it would build a new plant
in South Korea to produce flexible displays, citing the need to
prepare for an expected rise in demand from smartphone makers. LG
Display, a key screen supplier to Apple Inc. and LG Electronics
Inc., said in a regulatory filing it will invest 1.05 trillion
Korean won ($907 million) in the new facility over a two-year
period starting in the third quarter. ADRs fell 2.6% to $9.81.
Pearson PLC (PSO, PSON.LN) said it would sell FT Group, which
includes the Financial Times newspaper, to Nihon Keizei Shimbun
Inc. of Japan for 844 million British pounds ($1.32 billion). The
cash sale to the business publisher better known as Nikkei means
London-based Pearson is jettisoning one of its flagship media
assets to sharpen its focus on its key education businesses.
Pearson ADRs rose 1.1% to $19.10.
Drug-maker Shire PLC (SHPG, SHP.LN) reported a 69% decline in
second-quarter earnings after booking higher costs. However the
Dublin-based company raised its full-year guidance citing its
confidence in the underlying business. ADRs rose $1.78 to
$261.24.
STMicroelectronics NV (STM, STM.MI, STM.FR), Europe's largest
semiconductor maker, gave a cautious sales outlook for the third
quarter, partly as the result of uncertainties in China. Jefferies
said margins and revenue were in line with expectations, though the
results "may be a bit of a relief for some." ADRs rose 7.7% to
$7.99.
Syngenta AG (SYT, SYNN.VX) Chief Executive Mike Mack rolled out
his most definitive rejection of Monsanto Co.'s $45 billion
takeover overtures, saying a tie-up was too risky, the offer on the
table inadequate, and the pesticide and seed maker's recent
performance shows it is better off going it alone. Syngenta ADRs
fell 50 cents to $83.13.
Unilever PLC (UL, ULVR.LN) said its profit slumped 18% for the
first half of the year as sales growth slowed and the
consumer-goods giant came up against a tough comparison with a
year-earlier period helped by gains on a sale. ADRs rose 18 cents
to $44.97.
Wipro Ltd. (WIT, 507685.BY) said its earnings rose 4% for the
quarter ended in June as revenue grew, though the Bangalore-based
company's employee costs also increased. ADRs fell 1.3% to
$12.59.
Write to Tess Stynes at tess.stynes@wsj.com
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