ADRs End Lower; Philips Declines
April 25 2016 - 5:41PM
Dow Jones News
International stocks trading in New York closed lower
Monday.
Philips NV (PHG, PHIA.AE) was among the companies with ADRs that
traded actively.
The BNY Mellon index of American depositary receipts fell 0.9%
to 127.00. The European index decreased 0.7% to 124.59, the Asian
index dropped 1.2% to 136.26, the Latin American index declined
1.5% to 181.71 and the emerging-markets index retreated 1.2% to
$236.13.
Philips NV (PHG, PHIA.AE) said Monday it is more likely to sell
its lighting arm via an initial public offering as the Dutch
electronics group struggles to find a buyer for the business.
Philips said in its latest earnings report that it tilts toward an
IPO even as it continues to look at proposals in a private sale
process. ADRs fell 4.2% to $27.09.
Royal Dutch Shell PLC (RDSA, RDSA.LN) will offer a new voluntary
severance program for employees and plans to close a number of U.K.
offices in the wake of its roughly $50 billion acquisition of BG
Group PLC, the company said Monday. The Anglo-Dutch oil giant has
proposed plans to consolidate its London operations in central
London and close its Thames Valley Park campus by the end of the
year. The company also intends to close BG's offices in Aberdeen by
the end of 2016 and Shell's Manchester offices by the end of 2017.
ADRs fell 2.3% to $51.65.
Norway's Statoil ASA (STO, STL.OS) said Monday it had partnered
with Germany's E.ON SE (EOAN.XE) to develop the 1.2 billion euro
($1.35 billion) Arkona offshore wind project off the coast of
Germany, expanding into new European waters as it continues to step
up its offshore wind exposure. ADRs fell 1.7% to $16.57.
Days after the European Central Bank detailed its plan to buy
corporate bonds, consumer-goods giant Unilever NV (UN, UNA.AE) has
sold one of the stingiest new issues: a slug of debt that pays zero
coupons and will offer investors a return of practically nothing.
ADRs of Unilever NV increased 25 cents to $45.30. Unilever PLC (UL,
ULVR.LN) rose 22 cents to $46.21
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
April 25, 2016 17:26 ET (21:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Shell (LSE:SHEL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Shell (LSE:SHEL)
Historical Stock Chart
From Sep 2023 to Sep 2024