ADRs End Slightly Lower; Prudential, ING and SAP Trade Actively
March 08 2019 - 6:10PM
Dow Jones News
International stocks trading in New York closed slightly lower
on Friday.
The BNY Mellon index of American depositary receipts fell 0.2%
to 137.97. The European index fell 0.2% to 127.77. The Asian index
fell 0.5% to 161.34. The Latin American index rose 0.4% to 237.16.
And the emerging-markets index fell 0.4% to 301.62.
Prudential PLC (PUK), ING Group NV (ING) and SAP SE (SAP) were
among those with ADRs that traded actively.
Prudential is likely to report higher full-year profit when the
insurer posts 2018 results on Wednesday, says Panmure Gordon.
Panmure forecasts a slight increase in IFRS operating profit, with
anticipated performance having been impacted by currency volatility
and other issues. The brokerage also expects a final dividend of
35.09 pence, up 8%, making the full-year dividend 50.76p, also up
8% and slightly ahead of consensus. "The shares have recovered from
market-low woes and are up 11% in the year to date, but we believe
they remain attractively valued. Buy," says Panmure's Barrie
Cornes. ADRs of Prudential fell 2% to $39.94.
ING is shuffling its investments to fight climate change but
won't end financing for fossil fuels right away, the Dutch bank
says. "Limiting the rise of global temperatures to well below two
degrees Celsius requires a major shift in investment patterns," it
says. Last year, the bank provided EUR16.5 billion of loans, up
from EUR14.6 billion in 2017, aimed at reducing carbon emissions,
and it plans to remove thermal coal from its investments and loans
by 2025. "Climate change is one of the biggest challenges of our
time and, as such, extremely significant to ING and our
stakeholders," the bank says. ADRs of ING fell 1.8% to $11.76.
SAP and Bumble Bee Foods said Friday the seafood company is
using SAP's Cloud Platform Blockchain service to track yellowfin
tuna from the point it is caught to the consumer's home. The
technology allows customers to scan Bumble Bee Foods' Natural Blue
by Anova yellowfin tuna cans with their smartphone to reveal where
the fish was caught, the size of the catch and other information to
verify "authenticity, freshness, safety, fair trade fishing
certification and sustainability." ADRs of SAP were up 1.5% to
$107.97.
(END) Dow Jones Newswires
March 08, 2019 17:55 ET (22:55 GMT)
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