ADRs End Mostly Higher; Orange Rises
April 26 2016 - 06:05PM
Dow Jones News
International stocks trading in New York closed mostly higher on
Tuesday.
Orange SA (ORAN, ORA.FR), was among the companies with ADRs that
traded actively.
The BNY Mellon index of American depositary receipts rose 0.65%
to 127.82. The European index increased 0.80% to 125.59, the Asian
index was flat at 136.26, the Latin American index rose 2.1% to
185.58 and the emerging markets index increased 0.70% to
237.78.
Orange SA, France's largest telecom company whose plan to buy
rival Bouygues Telecom broke down earlier this month, said Tuesday
that its first-quarter revenue rose 3.5%, boosted by a return to
revenue growth in Spain and higher sales to companies. ADRs rose
1.6% to $16.96.
BP PLC (BP, BP.LN) is struggling to control the spiraling costs
of the fatal blowout that sent a slick of oil across the Gulf of
Mexico for months in 2010, disclosing on Tuesday the disaster's
bill had reached more than $56 billion. The mounting bills came
into focus on Tuesday, when U.K. oil major reported a $485 million
quarterly net loss that was largely caused by an unexpected $917
million write-down related to the spill. Still, ADRs rose 5.4% to
$33.49 as oil prices rose.
Former cellphone maker Nokia Corp. (NOK, NOKIA.HE) is speeding
its return to the gadgets business. Two years after selling its
mobile-phone unit to Microsoft Corp., the Finnish maker of
telecom-network equipment said Tuesday that it plans to buy
Withings SA, a French startup that was among the first companies to
make Internet-connected devices that track users' health. Nokia's
ADRs fell by a penny to $5.91.
Philips NV (PHG, PHIA.AE) said the International Court of
Arbitration has ruled in favor of the Dutch electronics group in a
2013 arbitration case against Japanese consumer electronics company
Funai Electric Co. Ltd. (6839.TO). The court has ordered Funai to
pay Philips 135 million euros ($151.46 million) as compensation for
damages, Philips said. ADRs rose 2.1% to $27.65.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
April 26, 2016 17:50 ET (21:50 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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