ADRs End Mostly Lower; Nokia Declines
February 01 2016 - 6:16PM
Dow Jones News
International stocks trading in New York closed mostly lower
Monday.
Nokia Corp. (NOK, NOKIA.HE) was among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts edged down
0.3 % to 119.53. The European index eased 0.3% to 120.09, the Asian
index fell 0.5% to 126.73, the Latin American index edged up 0.3%
to 140.64 and the emerging markets index decreased 0.3% to
201.86.
ADRs of Nokia Corp. (NOK, NOKIA.HE) fell 12% to $6.34 after the
Finnish telecommunications-equipment maker issued guidance for its
intellectual-property portfolio following a patent deal reached
with Samsung Electronics Co., that left some investors
disappointed.
BP PLC (BP, BP.LN) unveiled a management shake up, promoting the
head of its exploration and production arm, Lamar McKay, to the new
position of deputy chief executive. The U.K. oil giant pitched the
executive reshuffle as part of a broader plan to reorganize and
bolster its executive team's capacity amid one of the worst price
slumps in the industry's history. ADRs fell 2.1% to $31.70.
Credit Suisse Group AG (CS, CSGN.VX) and Barclays PLC (BCS,
BARC.LN) agreed to pay $154.3 million combined to settle
investigations by regulators into their "dark pools," officials
said. The record settlements are with the U.S. Securities and
Exchange Commission and the New York attorney general. The agencies
announced the agreements in news releases Sunday, after The Wall
Street Journal published a report about the impending settlements.
Credit Suisse's ADRs fell 2.6% to $17.34 and Barclays decreased
1.1% to $10.66.
ADRs of Luxottica Group SpA (LUX, LUX.MI) fell 3.9% to $59.15 on
Monday amid concerns that the reassertion of control by founder
Leonardo Del Vecchio could leave it with a weak management
structure at a time of intensifying competition and slowing sales.
Late Friday, the Milan company--whose brands include Lenscrafters,
Sunglass Hut, Ray Ban and Oakley-- said co-chief executive Adil
Khan was departing. Mr. Del Vecchio, 80 years old and the company's
majority owner, will assume Mr. Khan's executive powers on an
interim basis, possibly until 2017.
Smith & Nephew PLC (SN.LN) said Monday that Chief Executive
Olivier Bohuon has cancer though it is a highly treatable form of
the disease so he plans to remain in his post. The British
medical-technology group said Mr. Bohuon will start chemotherapy
later this month, with the treatment expected to be completed by
late fall. ADRs edged up 10 cents to $33.66.
Norway's Petroleum Safety Authority slammed oil and gas producer
Statoil ASA (STO, STL.OS) for serious breaches of regulations after
a 2015 leak at the Gudrun field in the North Sea. The Feb. 18 leak
was caused by a rupture in a two-inch pipe at the field's
processing plant and caused production to be shut down for 23 days.
Nobody was injured, but the regulators and Statoil said the
consequences could have been severe. The regulators ordered the
company to make changes to improve its risk assessment and safety
measures. ADRs fell 3.2% to $13.16.
Royal Dutch Shell PLC (RDSA, RDSA.LN) agreed to sell its 51%
stake in Shell Refining Co. (Federation of Malaya) (4324.KU) to
Malaysian Hengyuan International Ltd. for $66.3 million, amid
Shell's broader effort to streamline its portfolio and reduce costs
amid its roughly $50 billion deal for BG Group PLC. ADRs fell 1.3%
to $43.38.
Ryanair Holdings PLC (RYAAY, RY4C.DB, RYA.LN) unveiled an 800
million euro ($867 million) share-repurchase program and said
third-quarter net profit more than doubled despite sales weakness
the discount airline suffered in the wake of the terror attacks in
Paris last year. ADRs rose 4% to $81.49.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
February 01, 2016 18:01 ET (23:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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