ADR Shares End Higher; JinkoSolar, Petrobras Trade Actively
September 30 2015 - 7:04PM
Dow Jones News
By Maria Armental
International stocks trading in New York closed higher on
Wednesday.
The BNY Mellon index of American depositary receipts rose 2.3%
to 124.77. The European index improved 2.1% to 126.02, the Asian
index rose 2.4% to 129.55, the Latin American index rose 2.9% to
155.98 and the emerging-markets index improved 2.8% to 206.46.
JinkoSolar Holding Co. Ltd. (JKS) and Petroleo Brasileiro SA (PBR,
PETR3.BR, PETR4.BR) were was among the companies with ADRs that
traded actively.
AirMedia Group Inc. (AMCN) on Wednesday said it reached a deal
with a group of its executives to take the company private with an
offer that values the firm around $360 million, following a raft of
management offers earlier this year to take Chinese companies off
the U.S. market. The management-led buyout group already owns about
35% of the company's shares. ADRs rose nearly 7.8% to 5.37.
JinkoSolar said it reached a nearly $5.1 million settlement of a
2011 lawsuit with class-action status representing purchasers of
the Chinese solar-products company's American depositary shares
between their U.S. stock market debut in May 2010 and September
2011. ADRs surged nearly 14% to $21.94.
Novartis AG's (NVS, NOVN.VX) Sandoz Inc. unit agreed to a
nonexclusive license to sell a generic version of the United
Therapeutics Corp.'s hypertension drug Remodulin by June 2018
ending a long-running dispute between the two companies. Sandoz
could be permitted to enter the market sooner under certain
circumstances, United Therapeutics said in a news release. The
license would exclude other United Therapeutics products, as well
as technology related to an implantable version of Remodulin that
United Therapeutics is developing with medical-device maker
Medtronic PLC (MDT) and a pre-filled semi-disposable pump system
being developed with DEKA Research & Development Corp. ADRs
rose 2.7% to $91.92.
ADRs of Petrobras rose nearly 12% to $4.35 a day after Brazil's
state-run oil company said it was raising gasoline prices by 6% and
diesel prices by 4% at its refineries. Any change to prices at the
pump is unclear, as they are set by gas-station owners. Petrobras
imports gasoline and diesel fuel to meet domestic demand. The
weakening of the Brazilian currency, the real, against the dollar
has made those imports more expensive.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 30, 2015 18:49 ET (22:49 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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