ADRs End Mostly Lower; JA Solar Falls
November 17 2015 - 5:59PM
Dow Jones News
International stocks trading in New York closed mostly lower
Tuesday.
JA Solar Holdings Co. (JASO) was among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts edged up
0.24% to 130.79. The European index increased 0.52% to 130.56, the
Asian index edged down 0.3% to 139.52, the Latin American index
eased 0.02% to 163.58 and the emerging markets index declined 0.32%
to 221.80.
JA Solar reported that its third-quarter earnings rose 69% in
the latest quarter on stronger-than-expected demand. The Beijing
solar module and cell maker said in its news release Tuesday that
it plans to further increase its manufacturing capacity to meet
growing demand. The expansion plans come after JA Solar opened its
first plant outside China -- in Malaysia -- in late October. ADRs
fell 2.3% to $8.38.
Chinese search giant Baidu Inc. (BIDU, K3SD.SG) and China Citic
Bank Corp. plan to set up a direct bank, The Wall Street Journal
reported Tuesday. The move marks the Internet giant's latest push
to better compete against its rivals in the rapidly growing space
for online financial services. Baidu's ADRs fell 1% to $196.83.
Barclays PLC (BCS, BARC.LN) on Tuesday took further action to
reshape its investment bank by naming macro markets head Mike
Bagguley as chief operating officer of the unit. Mr. Bagguley, a
14-year Barclays veteran, will take a key role in accelerating the
continuing restructuring, reporting to investment bank Chief
Executive Tom King, according to an internal memo reviewed by The
Wall Street Journal. ADRs fell 12 cents to $13.70.
Credit Suisse Group AG (CS, CSGN.VX) has elevated one of its top
investment bankers in Asia Pacific to run a new unit that will help
carry out the bank's recently unveiled strategy for the region.
Vikram Malhotra, currently head of investment banking for Asia
Pacific, has been named executive vice chairman for the region and
will oversee a new unit focused on the bank's "most significant"
ultra-high-net worth entrepreneur clients. Credit Suisse ADRs fell
17 cents to $22.97.
Statoil ASA (STO, STL.OS) said it had decided to exit Alaska,
echoing a recent move by Royal Dutch Shell to drop the high-cost
Arctic frontier area. Explaining its decision, the Norway oil major
said its exploration activities in the Chukchi Sea couldn't compete
with projects elsewhere. Statoil's ADRs fell 1.5% to $15.19.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 17, 2015 17:44 ET (22:44 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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