ADRs End Lower; Anheuser-Busch InBev Rises
October 13 2015 - 6:07PM
Dow Jones News
International stocks trading in New York closed lower on
Tuesday.
Anheuser-Busch InBev NV (BUD, ABI.BT) was among the companies
with ADRs that traded actively.
The BNY Mellon index of American depositary receipts fell 1.61%
to 131.09. The European index decreased 1.44% to 131.89, the Asian
index dropped 1.50% to 136.80, the Latin American index fell 4.04%
to 165.88 and the emerging markets index declined 1.93% to
219.73.
SABMiller PLC's (SBMRY, SAB.LN, SAB.JO) board agreed to key
terms of a sweetened potential takeover offer by Anheuser-Busch
InBev NV (BUD, ABI.BT), valuing the London-based brewer at GBP67.9
billion British pounds ($104.2 billion) and setting the stage for
the creation of a brewing behemoth that would dominate much of the
world's beer market. AB InBev's ADRs rose 2.1% to $113.83. ADRs of
SABMiller, which aren't included in the BNY Mellon index, rose 5.6%
to $59.87.
Alibaba Group Holding Ltd. (BABA) soon will be opening offices
in Italy, France and Germany, a senior executive said Tuesday, as
the Chinese e-commerce giant ramps up international expansion
efforts amid slowing Chinese economic growth. ADRS fell 62 cents to
$69.68.
Barclays PLC (BCS, BARC.LN) plans to name Jes Staley, former
head of investment banking at JPMorgan Chase & Co. (JPM) as its
chief executive raised concerns among analysts Tuesday. The U.K.
bank's ADRs fell 3.6% to $15.16. Analysts said the planned
appointment could mean a lurch back toward investment banking after
a series of stops and starts in scaling back the division under
Antony Jenkins, its former CEO. If so, that could require more
capital, analysts warned. Barclays said it hadn't concluded the
process of appointing a new CEO.
Carnival PLC (CUK, CCL.LN) plans to double its cruise lines in
China in a bet that tourism will grow even as the economy slows.
The dual-listed company, known as Carnival Corp. (CCL) in the U.S.,
plans to add its namesake Carnival brand and its upscale Aida line
to its China fleet by 2017, in addition to its currently available
Princess and Costa brands. ADRs of Carnival PLC fell 43 cents to
$51.37.
Rio Tinto PLC (RIO, RIO.LN, RIO.AU) Chief Executive Sam Walsh
said he isn't interested in making a bid for Glencore PLC despite
the sharp decline in the embattled Swiss miner's stock in the past
few months. Mr. Walsh said in an interview Tuesday that he doesn't
think the two companies' businesses are well aligned and that the
they operate in different geographic regions. Rio Tinto's ADRs fell
2% to $38.17.
A unit of Spain's Banco Santander SA (SAN, SAN.MC) agreed to pay
roughly $6.4 million in a settlement with Wall Street's
self-regulator regarding supervisory failings tied to the sale of
Puerto Rican municipal bonds, which have plunged in value in recent
years. ADRs fell 3% to $5.75.
UBS Group AG (UBS) agreed to pay $19.5 million to settle charges
from the U.S. Securities and Exchange Commission that it provided
false or misleading information in materials related to structured
debt securities. ADRs fell 1.1% to $19.53.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 13, 2015 17:52 ET (21:52 GMT)
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