ADRs End Lower
September 25 2017 - 6:12PM
Dow Jones News
By Imani Moise
International stocks trading in New York closed lower on
Monday.
Mergers announcements swung stocks during the trading day. ABB
Ltd. (ABB) was among the companies with ADRs that traded
actively.
The BNY Mellon index of American depositary receipts fell 1% to
147.62. The European index decreased 0.6% to 138.20, the Asian
index dropped 1.7% to 169.08, the Latin American index fell 1.8% to
254.18 and the emerging markets index declined 2.3% to 315.09.
ADRs in ABB fell 0.3% to $24.65 after the Swiss conglomerate
said it would buy General Electric Co.'s (GE) Industrial Solutions
unit for $2.6 billion and postpone a previously announced share
buyback.
ADRs in Unilever edged up 0.1% to $57.50 after the
consumer-goods maker said it reached an agreement to acquire
skincare business Carver Korea for 2.27 billion euros ($2.7
billion) from Bain Capital Private Equity and Goldman Sachs Group
Inc. (GS).
ADRs in Alibaba Group Holding Ltd. (BABA) tumbled 4.8% to
$169.59 after Chinese regulators said they hit operators of three
of the country's biggest social-media platforms with the maximum
fine allowable under a new cybersecurity law for hosting fake news,
pornography and other forms of banned content.
ADRs of BRF SA (BRFS) fell 3.6% to $14.42 after being downgraded
to BBB-, just one rung above junk status, by Fitch Ratings.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
September 25, 2017 17:57 ET (21:57 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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