ADRs End Mostly Lower; Nokia Rises
July 13 2016 - 6:33PM
Dow Jones News
International stocks trading in New York closed mostly lower on
Wednesday.
Nokia Corp. (NOK, NOKIA.HE) was among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts eased 0.06%
to 125.12. The European index decreased 0.16% to 121.56; the Asian
index edged up 0.04% to 134.90; the Latin American index rose 0.38%
to 192.05; and the emerging markets index edged down 0.03% to
240.79.
Nokia Corp. (NOK, NOKIA.HE) and Samsung Electronics Co.
(005930.SE) agreed to expand a licensing deal in an agreement that
grants the two companies greater access to each other's patented
technologies. The Finnish telecom-equipment maker said the deal
will help boost annual sales from patent and brand licensing at its
technologies unit to roughly 950 million euros ($1.05 billion) by
the end of 2016. The unit reported sales of 403 million euros in
2015. Nokia's ADRs rose 5.4% to $5.89.
Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) and Allergan
PLC on Wednesday said they had tweaked the terms of Teva's $40.5
billion deal for Allergan's generics business, including pushing
back a key date that illustrates how long the deal is taking to
close. The move comes a day after the Israel-based drugmaker
boosted its second-quarter guidance. ADRs of Teva rose 3.8% to
$54.46.
Brazilian state-run oil company Petroleo Brasileiro SA (PBR,
PETR3.BR, PETR4.BR), or Petrobras, extended the timetable to hold
exclusive negotiations with Brookfield Asset Management Inc. (BAM)
regarding the sale of its gas-pipeline unit, Nova Transportadora do
Sudeste SA. ADRs of Petrobras fell 2% to $7.92.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
July 13, 2016 18:18 ET (22:18 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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