ADRs End Slightly Higher; Alibaba, Aegon and Santander Trade Actively
September 19 2018 - 6:39PM
Dow Jones News
International stocks trading in New York closed slightly higher
on Wednesday.
The BNY Mellon index of American depositary receipts rose 0.6%
to 143.17. The European index increased 0.6% to 133.97. The Asian
index jumped 0.6% to 169.06. The Latin American index rose 1.3% to
214.73. And the emerging-markets index increased 0.2% to
296.34.
Alibaba Group Holding Ltd. (BABA), Aegon NV (AGN) and Banco
Santander SA (SAN) were among those with ADRs that traded
actively.
German business-software vendor SAP SE and Chinese internet
giant Alibaba Group Holding Ltd. (BABA) plan to expand their
partnership in online platform services, the two companies said
Wednesday. The companies plan to offer SAP's online
business-process-management software SAP S/4HANA and SAP Cloud
Platform to customers of Alibaba's cloud-computing business in
China. Under the terms of the agreement, SAP will continue to use
Alibaba Cloud technology and Alibaba will use SAP S/4HANA in
return. ADRs of Alibaba were up 3.8% to $162.63.
Aegon said Wednesday that it will repurchase 24.1 million shares
in order to offset the dilutive effect of issuing stock as part of
its interim dividend. The buyback will begin on Oct. 1 and continue
until Nov. 9, the Dutch insurance and asset management company
said. The shares will be bought at the daily volume-weighted
average during the period. ADRs of Aegon were up 3.3% to $6.29.
Santander has reached an agreement to sell a portfolio of
residential properties to an affiliate of Cerberus Capital
Management LP for about 1.54 billion euros ($1.80 billion), it said
Wednesday. The price corresponds to 55% of the portfolio's gross
book value, the Spanish bank said. "This portfolio of foreclosed
properties consists of 35,700 residential properties and associated
parking and storage and will be serviced by Haya Real Estate, a
property-management company affiliated with the Cerberus group," it
said in a statement. The bank expects the deal to be completed by
the first quarter of next year, and doesn't see it having a
significant impact on results and capital. ADRs of Santander rose
2.1% to $5.25.
(END) Dow Jones Newswires
September 19, 2018 18:24 ET (22:24 GMT)
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