ADRs End Mostly Higher; Pearson Rises
January 21 2016 - 5:56PM
Dow Jones News
International stocks trading in New York closed mostly higher on
Thursday.
Pearson PLC (PSO, PSON.LN) was among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts rose 0.8%,
to 114.49. The European index increased 0.9%, to 114.98; the Asian
index improved 0.6%, to 123.22; the Latin American index fell 0.8%,
to 124.58; and the emerging markets index increased 1%, to
192.50.
Pearson unveiled plans to cut 4,000 jobs, or 10% of its
workforce, as the company also lowered its earnings outlook. The
London company, which makes most of its revenue from educational
services in the U.S., said it had underestimated the impact of
trading pressures across its key markets. ADRs rose 16%, to
$10.95.
Russia's second-biggest lender VTB Bank (VTBR.MZ) signed a
strategic partnership agreement with Internet giant Alibaba Group
Holding Ltd. (BABA) and its affiliate Ant Financial Services Group,
VTB said in a statement on Thursday. Alibaba's ADRs rose 2.9%, to
$70.72.
Royal Bank of Canada (RY, RY.T) said it had agreed to sell its
home and auto-insurance operations to the Canadian arm of U.K.
insurance provider Aviva PLC (AV, AV.LN) for 582 million Canadian
dollars (about $402 million). Aviva's ADRs rose 1.7%, to
$13.23.
Barclays PLC (BCS, BARC.LN) said it would refocus its investment
bank in the U.K. and the U.S., cutting around 1,000 jobs, mainly
across Asia. The U.K.-based lender is closing its
cash-equity-research, -sales and -trading and its
convertible-bond-trading businesses in Asia. The bank will also
exit several countries including Brazil, Russia, Taiwan and South
Korea, according to a letter and memo sent to staff by Barclays's
investment banking chief executive Tom King. ADRs rose 1.3%, to
$10.62.
Saudi Arabian Oil Co. is in talks with two of China's leading
energy companies concerning several energy projects to help
increase the Saudi state-owned oil company's sales in Asia. The
talks are at an advanced stage involving projects with China
National Petroleum Corp. and China Petroleum & Chemical Corp.
(SNP, 0386.HK), better known as Sinopec, said Khalid al-Falih, the
chairman of the state-owned oil giant better known as Saudi Aramco.
The projects include refineries in the city of Qingdao and in the
provinces of Yunnan and Sichuan. Sinopec's ADRs rose 4.8%, to
$52.22.
Logitech International SA (LOGI, LOGN.EB) raised its earnings
guidance for its fiscal year ending in March as the computer
peripherals-maker posted better-than-expected earnings for the
holiday quarter. ADRs rose 7.4%, to $14.73.
Total SA (TOT, FP.FR) is likely to report adjusted earnings of
close to $10 billion for 2015, down from $12.8 billion the previous
year as a result of the oil price collapse, Chief Executive Patrick
Pouyanne said. The French oil major's ADRs rose 2%, to $41.01.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
January 21, 2016 17:41 ET (22:41 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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